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Property Laws

Property Laws

Property Law

Property law is law regarding the ownership of property and the rights that come with such ownership. Property laws in a very general sense are designed to protect the basic rights of property ownership, such as the right to transfer property from one owner to another. Property law deals with both personal property and real property, or real estate.

Buy Property

One may buy property from any individual willing to sell property. Buying property is not possible in instances where the individual who currently holds the property in question is unwilling to sell, as that individual's ownership rights protect him or her. An individual, who wishes to buy property in a particular location, where such property is real property, must usually go through a significantly extended process to buy property.

Property Search

A property search tool, or property finder, is a tool which will allow individuals to search for information regarding properties. A property search tool might help a searcher to find property within particular ranges of values, such as property between ends of fair market value. A property ownership search tool would allow individuals to find the owner of particular pieces of real property based on address.

Property Development

Property development is the process of developing a given property by improving it. Property developing will often involve getting other parties to build on the property in question so as to improve it. Property development finance is an important part of property developing, as real estate development often costs a significant amount of money.

Eminent Domain

Eminent domain is the power of the state governments to take any land within those states for use in public buildings. Eminent domain does not allow the state to simply seize the land in question, as fair compensation must be given from the state government to the individual who owns the land being seized. Eminent domain can be appealed in court.

Property Developer

A property developer is an individual who develops property, as described above. Property developers are primarily in the business of improving property such that it is more valuable and they can make a profit on that property. Real estate developers might wind up ultimately selling the improved, more worthwhile property to another party in order to make their profit.

Property Rights

Property rights refer to the rights of any given individual owner of the property which he or she owns. The property market inherently involves the transfer of property rights from owner to owner with the property. For example, if one person gave another a piece of hunting property, then the new owner of the hunting property would have full property rights over that hunting property.

Lien on Property

A lien on property is a specific type of interest within a particular piece of property, allowing the individual holding the lien to have some claim to the property in question in order to ensure payment on a debt of some kind. Tax lien properties are properties which were put under a lien for the owner of those properties to pay his or her taxes.

Property Investing

Property investment is the practice of putting money into property for the sake of eventually selling that property and getting profit. Investing in property, where property here means real property in particular, is often a good idea because land and real property generally go up in value over time. Thus, property investments are often a good way for individuals to make money.

Property Portfolio

A property portfolio is simply a way of referring to a number of properties which are either owned or being developed by the holder of the property portfolio in question. A property portfolio might contain property information about each of the properties mentioned within the property portfolio. Such property information would generally just describe the property, its value, and any important features.

Property Consultants

Property consultants are those individuals with great expertise dealing with real property and real estate, who are able to bring their expertise into the matter of real estate sales and purchases in order to assist those individuals who hire them. A property consultant can often help individuals to make good decisions with regard to buying appropriate properties.

Property Brokers

Property brokers are individuals who help facilitate the buying and selling of property by serving many of the important functions within the process of buying and selling real property. A property agent will help to make sure buyers know of a property on the market on behalf of sellers. Property dealers and realtor agents might also help a buyer to find appropriate properties that are being sold. It is possible to sell a no agent property as well, however.

Property Owner

A property owner is the individual who holds title to a given piece of property. Property ownership comes with many rights and powers granted with regard to that piece of property. There might be multiple property owners in some cases, when the rights of property ownership are split between multiple individuals instead of being invested in a single property owner.

Property Preservation

Property preservation is the practice of preserving and securing a house which has been put up for foreclosure. Because an individual is losing his or her own land in such an instance, he or she might not take the care necessary to keep that land well-kept or safe, and might simply leave. In such a case, then, property preservation refers to making the property as secure and well-kept as possible.

Rent Property

Renting property is a viable option both for those who are not looking to buy property, and for those who are not looking to sell property. For an owner, putting up properties for rent is a good way to make some profit from the properties, without giving them up, though there are drawbacks. For a renter, looking to rent property will ensure lower costs than buying a property, but in the long run, costs may actually be higher.

Sell Property

An individual with full ownership rights and title to a piece of property can sell property, as the ability to sell property is one of the fundamental rights afforded to property owners. Selling property, particularly selling real property, can sometimes be a difficult and time consuming course of action because of the number of steps involved, but it may ultimately supply the owner with profit for a property he or she would not have otherwise used.

Property Title

A property title refers to the group of rights held by the owner of a piece of property. Property title is usually embodied in some form of documentation, and the transfer of property title must be registered with a government agency. This is significant because a property title search can be conducted through this publicly available information.

Property Marketing

Property marketing refers to the twofold practices of both preparing a property for sale and making sure that the sale status of the property is readily known in the important spheres. Property marketing is often conducted by a realty agent.

Property Prices

Property prices are determined based on a number of different factors. These factors which influence property prices include, in the case of real property, the location of the real property, the quality of the real property, the repair of the real property, and any special features of the real property.

Property Site Inspection

A property site inspection is an inspection of a particular property site, so that an individual could get a firsthand look at the property in question. A property site inspection of land property might be conducted by government officials, or it might be conducted by an individual attempting to examine a house for the first time.

Property Damage

Property damage is any damage to a property which might have been caused by another individual or by nature. Property damage could include superficial damage to the property, or it could include property damage that reduces the functionality of the property.

Loan Against Property

A loan against property is a secured loan in which the real estate property of the borrower is used as collateral in the loan, in order to ensure that the lender will receive payment on the loan. A loan against property is often easier to get than a loan that is unsecured against property.

Property Listings

Property listings are descriptions of property which may be easily accessible through certain sources on the web or in magazines and other publications. A property listing will generally be put up by either a realty agent or by the property owner him or herself.

Property Solicitors

Property solicitors are often property lawyers who assist in the transfer of a property from one party to another. Property solicitors might help draft the exact contract to allow for the transfer of property. Property solicitors are not absolutely necessary for real property transactions.

Property Revaluation

Property revaluation refers to the practice of revaluing property according to new updated standards, including the market of the area and any improvements that might have been made to the property. Property valuation and property revaluation are most often performed in order to determine the correct amount for taxes.

Real Estate Values

Property values are determined by a number of factors, with the fair market value of any property being the baseline property value for any property. Real estate value might be modified by such elements as the exact location and the nature of the recent economy, as real estate values are somewhat dependent upon the values of recent purchases.

Property Exchange

A property exchange would involve an exchange of properties instead of a selling and buying of properties. Parties involved in a property exchange would simply exchange titles of their properties, and would thus avoid some of the tax costs associated with buying and selling real property.

Property Records

Property records are generally available in a number of different locations, with the most public property records available through numerous property records search tools.

Rural Property

Rural property is property which is located out in the rural areas of America. Rural property is also sometimes known as farm real estate, because a great amount of rural property is considered to exist in the farm oriented sections of America. Rural property for sale will vary in cost and availability depending upon its exact characteristics and proximity to cities.

Unclaimed Property

Unclaimed property is property which has not been claimed within a particular reasonable time period, thus leading to the government taking possession of it. In terms of real property, most abandoned property does revert to being held by the government, instead of simply standing without any kind of owner or holder.

Foreclosure Property

Foreclosure property is property which has undergone property foreclosure, most likely because the owner of that property failed to make a payment on a loan or as an appropriate part of the deal for that foreclosed property. Property foreclosure is used to sell the property and make back some amount of money from the loan, though foreclosure properties may also be interesting for an individual who is looking to make a purchase of a property.

Bank Owned Properties

Bank owned properties are those properties which were put up for foreclosure auction, but which did not sell, and thus which defaulted into the possession of the bank. A bank is responsible for all the maintenance with regard to the bank owned property while it is bank owned. An individual might be able to purchase bank owned properties for less than he would normally, though this is not guaranteed at all.

Historic Properties

Historic properties are those properties which may be very old, or which may have some played some important role in the history of the era. In general, historic properties are treated the same way as are any other kind of properties, as the owner has full rights to these historic properties. A Council interested in historic properties might choose to buy these historic properties and turn them into council properties in order to prevent any further damage to these council properties.

General Growth Properties

General Growth Properties is a company which spends money investing in income property, meaning that it invests in properties which will then continue to make it income in some capacity.

Luxury Properties

Luxury properties are properties which are designed to be luxurious and accommodating, and which often have price tags over one million dollars. A vacation property is particularly likely to be counted among luxury properties as a consequence of many vacation home areas having much greater costs for real estate.

Repossessed Property

Repossessed property is property which has been taken back by the party that technically has ownership rights to the property, as a result of the former possessor not fulfilling his or her part of a deal. For example, a car might become repossessed property when the driver fails to pay his or her lease.

Public Property

Public property is property which is not owned by any particular party or individual owner, but is instead owned communally by the public. Public property is normally held in trust for the public by the government, which then keeps public property records with regard to all the public property it manages.

Private Property

Private property is property, be it real property or personal property, which is owned entirely by one individual or party, such that that part has all the rights to conducting private property sales and private property rentals with regard to that piece of real or personal property.

Shared Ownership Properties

Shared ownership properties are properties in which ownership is split between a number of different owners, who each own some percentage of shares of the total property. Each of these property partners thus likely has a decreased burden, but a decreased amount of rights and benefits with regard to the shared ownership properties.

Community Property

Community property is property that falls under a particular principle regarding marriage. Under the principle of community property, any properties which a married couple obtains during the course of a marriage are considered community properties, and belong equally to both parties in the marriage.

NEXT: Property Owner at a Glance

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