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California prevented aliens (mainly Asians) from holding title to land until the law was declared unconstitutional in 1952. [14] Currently there are no restrictions on foreign ownership of land in the United States, although sales of real estate by non-resident aliens are subject to certain special taxation rules.
Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date.
In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
Mr Ainsworth was the registered owner, but moved out in 1957, borrowed £1,000 in 1958 from the bank, and gave the bank a charge (security by mortgage) over it. The money was used for his small business, Hastings Car Mart Ltd, incorporated at the end of 1959. He had left his wife living in the home, deserting their relationship.
Beneficial owners hold specific property rights ("use and title") in equity belong to a person even though legal title of the property belongs to another person. Beneficial owner is subject to a state's statutory laws regulating interest or title transfer. [2] This often relates where the legal title owner has implied trustee duties to the ...
Oyama v. State of California, 332 U.S. 633 (1948) was a United States Supreme Court decision that ruled that specific provisions of the 1913 and 1920 California Alien Land Laws abridged the rights and privileges guaranteed by the Fourteenth Amendment to Fred Oyama, a U.S. citizen in whose name his father, a Japanese citizen, had purchased land.
The setting-up process of a sole proprietorship to comply with local laws and regulations, is obtainable from the Small Business Development Center (SBDC), using their locator facility. A sole proprietor must be prepared to devote their time, utilizing business methods towards establishing a sound and appropriate foundation.
At common law, the vendor of land needs to show his or her ownership of the land by tracing the chain of ownership back to the earliest grant of land by the Crown to its first owner. The documents relating to transactions with the land are collectively known as the "title deeds" or the "chain of title". This event may have occurred hundreds of ...