Ownership Basics
What is property ownership?
The legal rights in land or real estate, which include possession, control, and transfer.
What are the two basic forms of property?
Real property is land and any buildings, and personal property are movable items.
What is the importance of a title deed?
It is evidence of legal ownership and a necessity for the transaction.
What is “fee simple” ownership?
It is the absolute form of ownership, which lasts forever and may be transferred to anyone.
Co-ownership refers to shared rights whereas sole ownership entails exclusive rights in one person’s name.
How to Buy and Sell Property
Also read:
- https://truelegalexpert.com/20-essential-questions-about-property-law-explained/
- https://truelegalexpert.com/25-property-law-faqs-for-buyers-sellers-and-landlords/
- https://truelegalexpert.com/30-key-questions-about-property-ownership-and-disputes-answered/
What are the documents needed in buying a property?
Title deeds, sale agreement, tax clearance, and disclosures about the property.
What is a sale agreement for a property?
A legal contract between buyer and seller in which terms and conditions of transaction will be discussed and agreed upon by both parties involved.
What is the legal procedure in selling property?
Title search, drafting of agreements, registration, and transferring payment.
Can a property sale be rescinded?
Yes, for example on grounds of breach of contract or fraud, and often with consequences.
What is due diligence in real estate?
Researching title, zoning, taxes, and physical condition before buying.
Property Disputes
How can there be disputes over ownership?
Because titles are unclear, inheritance claims are made, or because of fraud.
How are boundary disputes resolved?
By survey, mediation, or court decision.
What legal action can end encroachments?
Suing to remove the encroachment or to collect damages.
What if two parties contest the same piece of property?
Courts base ownership on the title evidence submitted.
What is mediation in the case of a property dispute?
A voluntary means of resolving the dispute without litigating it.
Inheritance and Succession
What happens to property with no will?
It is dispersed based on local intestate laws.
May heirs contest the distribution of property?
Yes, via legal challenges or family agreements.
What is probate?
The legal process by which a will is validated and the assets transferred.
How does joint ownership affect inheritance?
Rights of survivorship or tenancy terms determine how it will be distributed.
Can an executor sell inherited property?
Yes, if the court permits it or the will has provided instructions.
Leasing and Tenancy
What are the rights of the landlord?
They must provide habitable premises, maintain property, and respect tenant rights.
Can a lease agreement override property laws?
No, the laws override any conflicting terms in the lease agreement.
What are tenants’ rights in eviction cases?
Notice periods, hearings, and protection against wrongful eviction.
What happens when a lease expires?
It can be renewed, extended, or terminated according to agreement terms.
Can tenants claim improvements on the property?
Only with landlord consent or specific legal rights.
Commercial Real Estate
What is zoning, and why does it matter?
Regulations defining property use (residential, commercial, industrial).
Can zoning laws be appealed?
Yes, through appeals or variance applications.
What is a leasehold improvement?
Alterations made by tenants to suit their business needs.
Common problems during commercial lease disputes:
Rent adjustment, maintenance responsibilities, and terms for property termination.
What are commercial properties taxed?
Property taxes on a commercial property are calculated based upon market value, usage type, and the local tax rate applied.
Mortgage and Finance
What is a mortgage?
A secured loan for property calls for certain payments to be made regularly.
If the mortgage defaults
The lender can start foreclosure to repossess the property.
Can a mortgaged property be sold?
Yes, but the mortgage has to be paid off at sale.
What is title insurance?
Protection against defects or disputes over title during transfer of ownership.
What is a lien on property?
A legal claim against property for unpaid debts.
Legal Protections
What is adverse possession?
Acquiring property rights through open, continuous, and hostile occupation.
How do property laws vary by state or country?
Jurisdiction-specific rules apply to ownership, taxes, and transactions.
What is eminent domain?
Government acquisition of private property for public use, with compensation.
Can property be gifted legally?
Yes, through a registered gift deed with necessary documentation.
What are common legal remedies for property disputes?
Negotiation, ADR, filing lawsuits, or seeking injunctions.
Let me know if you’d like to expand on any specific questions or areas!