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Austin said: Rights in rem sometimes arise from an instrument which is called a contract, and are, therefore, said to arise from a contract; the instrument in these cases wears a double aspect or has a twofold effect: to one purpose it gives jus in personam and is a contract, to another purpose it gives jus in rem and is a conveyance.
Similarly, where a non-profit organization may be exempt from equipment taxes and sales taxes, its mission may permit payment of an agreed PILOT to the local tax authorities, to offset the impact upon local services funded by town residents. The size of such payments can be controversial, especially where the organization appears to have ...
Pursuant to certain statutes, state agencies have promulgated bodies of regulations (sometimes called administrative law). The regulations are codified in the Pennsylvania Code (Pa. Code). [6] The Pennsylvania Bulletin is the weekly gazette containing proposed, enacted and emergency rules and other notices and important documents. [7]
As of 2014, the Restatement's failure to address basic doctrines like adverse possession and real estate transfers had never been corrected over 75 years, three Restatements series, and 17 volumes. [2] In the 1970s, the Uniform Law Commission's project to standardize state real property law was a spectacular failure. [3] [4] [5]
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 ...
Generally, "like kind" in terms of real estate, means any property that is classified real estate in any of the 50 U.S. states or Washington, D.C., and in some cases, the U.S. Virgin Islands. Taxpayers who hold real estate as inventory, or who purchase real estate for re-sale, are considered "dealers".
Steve Nicastro, a content team leader with Clever Real Estate, based in St. Louis, said Clever expects the ruling to lead to lower commissions for buyers' agents, down from the current average of ...
A tax sale is the forced sale of property (usually real estate) by a governmental entity for unpaid taxes by the property's owner.. The sale, depending on the jurisdiction, may be a tax deed sale (whereby the actual property is sold) or a tax lien sale (whereby a lien on the property is sold) Under the tax lien sale process, depending on the jurisdiction, after a specified period of time if ...