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Before it was developed, the idea of property was seen in terms of dominion over a thing, as in the ability of the owner to place restrictions on others from interfering with the owner's property. The "bundle of rights," however, implies rules specifying, proscribing, or authorizing actions on the part of the owner. [4]
Property law in the United States is the area of law that governs the various forms of ownership in real property (land and buildings) and personal property, including intangible property such as intellectual property. Property refers to legally protected claims to resources, such as land and personal property. [1]
A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate). In several counties and municipalities in the US a standard title search (generally accompanied by title insurance ) is required under the law as a part of ...
At common law, property owners held title to all resources located above, below, or upon their land. Cuius est solum, eius est usque ad coelum et ad inferos (Latin for "whoever's is the soil, it is theirs all the way to Heaven and all the way to Hell") [1] is a principle of property law, stating that property holders have rights not only to the plot of land itself, but also the air above and ...
A chain of title is the sequence of historical transfers of title to a property. It is a valuable tool to identify and document past owners of a property and serves as a property's historical ownership timeline. The "chain" runs from the present owner back to the original owner of the property.
A partition is a term used in the law of real property to describe an act, by a court order or otherwise, to divide up a concurrent estate into separate portions representing the proportionate interests of the owners of property. [1] It is sometimes described as a forced sale.
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Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property . [ 1 ]