property law

A Latin term referring to a bill to quiet title in the area of real property law.

 A remainder is a future interest in land.  It is the right to own and possess the land after the fixed interest of current holder expires.  Thus, a remainder can follow a life estate or a term of years.  It is created by the use of the phrase "then to" or similar language.  For example both "to A for life, then to B" and "to A for 10 years, then to B" give B a remainder.  A person who has a remainder is called a remainderman.   Contrast with a reversion.

Definition

A Latin term meaning "by intestacy."  The term refers to laws governing the succession of property after its previous owner dies without a valid will.

Definition

A situation in which the legal owner to real estate is uncertain and the determination of the true owner is pending.

Definition

Provision in a lease agreement that releases the tenant from paying rent if an act of God makes occupancy impossible or otherwise precludes the property from being used.

See also

• Abatement

The common law distinguished between lost property and mislaid property. Lost property is personal property that was unintentionally left by its true owner. Mislaid property is personal property that was intentionally set down by its owner and then forgotten. For example, a wallet that falls out of someone's pocket is lost. A wallet accidentally left on a table in a restaurant is mislaid.

Abandoned property: an overview

Personal property left by an owner who intentionally relinquishes all rights to its control.  Real property may not be abandoned. See Adverse Possession.

At common law, a person who finds abandoned property may claim it.  To do so, the finder must take definite steps to show their claim.  For example, a finder might claim an abandoned piece of furniture by taking it to her house, or putting a sign on it indicating her ownership.

Some jurisdictions allow lenders to foreclose property without getting a court order first. This is called a non-judicial foreclosure.

Non-judicial foreclosure is only available for deeds of trust with power-of-sale clauses. They are not available for traditional mortgages.

Curtilage includes the area immediately surrounding a dwelling, and it counts as part of the home for many legal purposes, including searches and many self-defense laws. When considering whether something is in a dwelling's curtilage, courts consider four factors:

Sometimes, a person buying real property gives the seller a mortgage on the property as part of the deal to buy the property. This is called a purchase money mortgage, because this type of mortgage usually replaces part or all of the cash that the buyer would otherwise pay the seller. For example, a buyer might pay for a $500,000 house with a $400,000 bank mortgage, $60,000 in cash, and a $40,000 purchase money mortgage.