The broad category of property law is generally broken up in to two
different areas. First there is personal property, which
covers things like clothes, cars, and furniture. Then there
is real property law, which encompasses land, houses, or anything else that
is fixed to the land.
In fact, property law is in many
ways the basis for most civilized societies. Without real estate
law, the world we live in would still be something akin to a Wild
West frontier of bandits and cattle rustlers.
Today, real estate law allows for more peaceful ownership arrangements
and, over the centuries, has had ample opportunity become a multi-faceted grouping of laws.
A piece of property, and any structures built upon it, may be owned
by a single person or by several people, by a married couple,
by a group or legal trust. In addition, such laws also help govern
planning and how property is passed on to future generations.
Another more familiar aspect of real estate law is landlord
tenant law governing rental agreements. Under real estate
law, both owners and renters have claim to certain rights and
responsibilities with regards to the property, and renters often will be required to sign agreements stating exactly what those
rights and responsibilities are.
Perhaps more so than intellectual
property, real estate and investment properties have substantial
tangible value for banks, businesses and corporations.
Real estate can be an investment in the future for many young people,
too, Modern mortgage
and home ownership laws and regulations, for example, help
make real estate property ownership affordable to first time owners
who couldn't otherwise afford a home, by setting down rules for
what kinds of relationships people can have with banks and other
While home ownership has it advantages, recent history has shown that
when laws and regulations that govern real estate are lifted, foreclosure can become the unfortunate outcome for millions of homeowners,
along with financial ruin for banks and other lending agencies
that engage in such practices.
More about property & real estate law around the Web:
to Real Estate and Property Law-
Directory of related resources including real estate and property
law in the US, Europe, Asia, Australia and South Africa with links
to recent articles on the topic.