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An action to quiet title is a lawsuit brought in a court having jurisdiction over property disputes, in order to establish a party's title to real property, or personal property having a title, of against anyone and everyone, and thus "quiet" any challenges or claims to the title.
For example, making payments on the mortgage can evince an intent to assume it, as can paying less than the value of the property (if the difference is the amount outstanding on the mortgage). Absent an assumption of the mortgage by the purchaser, the purchaser buys the property subject to the mortgage, which means the property is still ...
In most jurisdictions, the real property interest created by the contract will pass to the buyer's heirs, while the seller's personal property interest created by the contract will pass to the seller's estate. The State of New York does not recognize equitable conversion. In New York, as long as the buyer is without fault, the risk of loss ...
Once an instrument affecting the title to real estate has been recorded, the law holds that everyone is deemed to know of its existence, even if they have not searched the records in the recorder's office. This is the doctrine of "constructive notice" and it is nearly universal in the various states of the U.S. So, for example, after a deed or ...
When a property goes into foreclosure, the mortgage company becomes the owner of the property making it challenging for the current resident to sell the property. [5] To remove the cloud on the title being caused by foreclosure, the resident would simply need to pay what is owed on their mortgage. [5] This would remove the cloud on the title. [5]
Adverse possession in common law, and the related civil law concept of usucaption (also acquisitive prescription or prescriptive acquisition), are legal mechanisms under which a person who does not have legal title to a piece of property, usually real property, may acquire legal ownership based on continuous possession or occupation without the permission of its legal owner.
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.
For example, if the grantor conveys a time share interest or an interest less than fee simple absolute, the habendum clause would specify the owner's rights as well as how those rights are limited (a specific time frame or certain prohibited activities, for instance).