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The number of days and the amount of the option fee, like sales price and earnest money, are among those features negotiated between a seller and potential buyer in the sale contract; in Texas, option fees typically range from $100 to $200, while earnest money ranges from one to several thousand dollars.
The legal status of land contracts varies between jurisdictions. [vague] Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract. In the usual more conventional real estate contracts, a seller does not provide a loan to the ...
The time use of a chattel or other so called "personal property" is covered under general contract law, but the term lease also nowadays extends to long term rental contracts of more expensive non-Real properties such as automobiles, boats, planes, office equipment and so forth. The distinction in that case is long term versus short term rentals.
The General Land Office's main role is to manage Texas's publicly owned lands, by negotiating and enforcing leases for the use of the land, and sometimes by making sales of public lands. Royalties and proceeds from land sales are added to the state's Permanent School Fund, which helps to fund public education within the state. [2]
Land Hampshire, England: 1996–2995 Queen's College, Oxford [5] Hampshire County Cricket Club: Former farmland U.S. Consulate General, Hong Kong: Building Hong Kong: 1999–2998 City of Hong Kong [6] Government of the United States: Formerly on a 75-year lease with 26 years left Millennium Dome: Building and surrounding land London, England ...
The Texas Pacific Land Corporation is a publicly traded real estate operating company with its administrative office in Dallas, Texas. Owning over 880,000 acres (3,600 km 2 ) in 20 West Texas counties, TPL is among the largest private landowners in the state of Texas .
The merger also refers to the doctrine whereby "a fee simple estate, once fragmented into present and future interests, can thereafter be reconstituted. 'Merger is the absorption of a lesser estate by a greater estate, and takes place when two distinct estates of greater and lesser rank meet in the same person or class of persons at the same time without any intermediate estate.' "[1 ...
This is most seen in the case of a contract. If an interest in land is the subject of a contract, the law isolates three steps. First, the sale will take place, which according to LPMPA 1989 section 2 may only occur with signed writing (though by section 2(5) and Law of Property Act 1925 section 54(2) leases under 3 years can be made without ...