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MAIN Arrow to Home Life Home Legal Guide Arrow to Real Estate LawReal Estate & Property Law

Picture of foreclosure signThe 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.

Property law, and by extension real estate law, is also one of the oldest kinds of law dating back to the ancient Romans.

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 via estate 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 loaners.

In the US and many other countries, there are also unique tax benefits for homeowners.

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.


also see -> Buying foreclosures | Mortgage insurance


More about property & real estate law around the Web:

 

Guide 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.

Real Estate and Property Law - Legal Help - Busy forum with expert help on topics such as buying & selling real estate, condominiums, landlord-tenant law, foreclosures and other real estate law issues.

What does a real estate lawyer do? - A quick course on how lawyers can help when buying or selling homes and real estate with a description of typical costs and fees.

Glossary of Real Estate Abbreviations, Terms and Phrases - Comprehensive cross-referenced glossary with definitions browseable in an A-Z list.

The information provided on these pages is intended as reference
only and does not constitute professional legal advice.

 

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