Search results
Results from the WOW.Com Content Network
Contract law regulates the obligations established by agreement, whether express or implied, between private parties in the United States. The law of contracts varies from state to state; there is nationwide federal contract law in certain areas, such as contracts entered into pursuant to Federal Reclamation Law.
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
An express easement may be "granted" or "reserved" in a deed or other legal instrument. Alternatively, it may be created by reference to a subdivision plan by "dedication" or in a restrictive covenant in the agreement of an owners association. Generally, the doctrines of contract law are central to disputes regarding express easements.
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Thus, while consensual contracts and real contracts can be formed solely by the actions of the parties, contrats solennels can only be formed via specified formal processes. Nevertheless, all three categories of contracts are based solely on the exchange of mutual assent, differing only in the manner in which assent is expressed.
A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
A listing contract (or listing agreement) is a contract between a real estate broker and an owner of real property granting the broker the authority to act as the owner's agent in the sale of the property. [1] If the broker is a member of the National Association of Realtors, the agreement must include all of the following terms: