3 Basic Real Estate Law Concepts


Dealing with questions about property is one of the primary reasons that a legal system exists at all. Real estate law, like any form of law, is grounded in a number of core concepts. When you have a conversation with a real estate attorney, these three particular ones are likely to come up.

The County Register

In virtually every county in the U.S., there is a register of all the properties within its boundaries. Similarly, there is a county registrar whose job it is to ensure that the available information is as accurate and up-to-date as possible.

When you need to learn about a property, the register includes all the information the county government has ever collected about it. This includes data like what the property boundaries are, who has had title to the location, where water sources have been found and even where the utility lines are. If any modifications have been made to the property, such as a subdivision from a larger title, those will also appear in the register.

Any time you make significant changes to the site, you're supposed to enter them into the register. Changing the footprint of the foundation would call for an update. Likewise, the data should be updated, for example, if you had the electric company run a new underground line to power the garage.

Title

The paperwork that states the ownership of the location is called the title. When one person has a claim to the property without any outstanding debts, this is called a clear title. If the property has been used to secure a debt or has been included in a bankruptcy proceeding, a lien may be placed against it. This allows a preferred creditor to call dibs on any value that might come from the disposition of the property. It's critical to perform a title search prior to selling or buying a place to ensure there aren't any undiscovered liens against it.

Transfer

Selling or giving real estate to someone else is a fairly common activity, and the legal system is designed to ensure the fewest disputes possible occur during this process. During a transfer, it's important that the receiving party understands everything that might be wrong with it. Otherwise, this can be construed as fraud. To that end, buyers and sellers often pay for surveys and independent inspections to ensure that all necessary representations about the site are accurate.

About Me

The Law Is Blind

Thanks for visiting my fun little blog on the legal system. I'm Jane Campbell. I have always wanted to be a part of the legal profession. I find law fascinating and I read everything I can find about the subject and hope to attend university someday. The only thing that prevented me from pursuing this profession was my social anxiety disorder. While I am in the process of trying to recover from this condition, I've decided to create a blog so I can talk to others about a subject that I hold so dearly. I hope my posts will be useful for you.

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