Home Property Law

Property Law

What Does it Mean to Buy Property

What Does it Mean to Buy Property

Buying property is, in its most basic form, a relatively simple affair. The buyer would exchange some other form of property or money with the seller in order to obtain property rights to the property in question. This is the core basis of buying property. The exact rules, however, may vary depending upon the situation, the type of property being bought, and the financial status of the individuals on either end of the transaction.
For instance, the process of buying property in Argentina would be different from the process of buying property in America, or buying property in France, as the exact laws of those nations would all have some influence upon the process of buying property in those nations.
Most often, these differences are pronounced when an individual wants to buy property of a real property nature, as opposed to personal property. Real property is property which is immovable, such as a building, or a piece of land. To buy real property often costs significantly more money than does buying personal property, and it may be a more rigorous process.
In America, to buy real property, one must get in touch with the appropriate seller. Sometimes, the seller is the owner of the property him or herself, but often enough, a seller will sell through an agent. For instance, in the case of real estate, someone looking to buy property might have to go to the agency that was helping to sell that property, as opposed to going directly to the owner of that property. A potential buyer might also have to consult with a bank in order to secure a loan for the funds necessary to buy property of such a costly nature, as well.

Property Investing

Property Investing

Property investment is the process of buying real estate property as an investment. Investing in property is generally considered a good investment, particularly if one has the skills necessary, as property, most of the time, goes up in value over time, though this is certainly not always the case. 
This is particularly true in the case of those individuals who attempt to make a living out of property investments, as these individuals have made a strategy out of investing in property by first buying the property, and then improving it substantially so as to get a better return on that property at the time of sale. Property investments require a great deal of money in order to successfully turn a profit, however, as they must be improved significantly in order to merit a higher price.
Furthermore, because the nature of property investment profit-bearing strategies requires the investor to sell the property, there may be times when the individual will not actually be earning any money at all, while he or she may be investing in property with even more money. 
This means that an individual without the means to appropriately perform a strategy of property investment, or without the necessary preparation and planning, may wind up in an unsustainable period where he or she is losing money and gaining nothing, eventually resulting in a need to sell the property investment at a loss, simply in order to make back some of the money.

Creating your Property Portfolio

Creating your Property Portfolio

A property portfolio is simply an assemblage of properties owned or developed by a particular company or individual. If a company is making references to its property portfolio, then this means that the company is referencing those properties on which it has previous performed work.
For example, the Westfield Group mentions that its property portfolio spans 119 shopping centers around the world. Each of these shopping centers would be one element of its overall property portfolio. Real estate developers will often have a property portfolio which explains and provides property information for all of the property which they have developed or are currently in the process of developing.
Real estate agents might even have a property portfolio which might contain property information about the properties which they are attempting to sell.
Most private individuals not involved with real estate on the professional level will not have any form of property portfolio, as these individuals will likely own one or two pieces of real estate, if any, and they will not need to easily and quickly present the property information of these pieces of real estate property as might a real estate professional with a property portfolio.
A company might also be interested in expanding its property portfolio by buying or becoming involved with new properties, in order to better improve its stature and prestige. The property information of properties in a property portfolio will generally include the address of those properties, the acreage of those properties, the cost of those properties, and any developments that have been built on those properties.

The Fast Facts on Land Ordinances

The Fast Facts on Land Ordinances

A land ordinance was a law that firmly established a plan for surveying and selling federally owned lands in a specific area. Throughout history, the United States Federal Government has passed three land ordinances (1784, 1785, and 1786) to further expand the country's federally owned land. 
 
 
The land ordinance of 1784 called for the land west of the Appalachian region, specifically north of the Ohio River and east of the Mississippi River to be divided into separate states. Through this action, the land became organized and states evolved into separate entities. As a result of a land ordinance, the country divided regions and instituted governments based on the divided lands. 
 
 
Although the lands were still under federal law and a part of the United States, they maintained individuality through the institution of land ordinances. That being said, a land ordinance did not define the mechanism by which the lands would become entities or states, or the territories governing bodies would be established, the ordinance simply created the physical boundaries for which states could be established. 
 
 

Where To Find Antique Maps

Where To Find Antique Maps

Antique maps can be located from a number of possible sources. As such, an antique map may be located in-person, at a physical facility, or through a website or online service. Antique maps might be found at an antique shop. In addition, the proprietor of an antique shop who does not have any antique maps onsite might be able to assist the antique map hunter by ordering one from elsewhere. 
Antique maps also might be found at an art gallery or listed in a catalogue as being potentially available through an upcoming auction. Possibly depending on the antique map hunter’s proximity to a major metropolitan area, antique maps might be most easily found at an art gallery or antique shop specializing in antique maps. Alternately, a wide array of antique map options might also be located online.

Special Administrator Role Defined

Special Administrator Role Defined

Within the context of real property laws, a special administrator is an individual that is appointed by the appropriate court with jurisdiction over situations or concerns involving wills. Special administrators are responsible for administrating issues involving the courts in regards to an estate during the probate process. Special administrators will often times specialize in particular aspect or concentration of real property. 
A special administrator can be an expert in automobiles or art, and such expertise will allow this kind of special administrator to administer the probate in relation to the deceased persons property under such categories. In some cases, special administrators may often be required to take care of an entire state. However, this only typically occurs under specific or emergency situations. In such a case, the special administrator will have the sole responsibility of overseeing and maintaining the overall estate and will typically not be involved in the probate process of the will. 

Mechanic Lien At A Glance

Mechanic Lien At A Glance

A mechanic lien can be used for personal property; in fact, all mechanic liens are in utilized in reference to personal property. 

What is a Mechanic Lien


A mechanic lien is a lien placed upon an item by a service person who has been contracted to perform repairs or modifications with regard to the item in question. Due to the fact that the service industry is a commercially-based industry, by default, a mechanic lien can only be placed on personal property.


The Validity of a Mechanic Lien
In order for a mechanic lien to be instituted with regard to personal property, a written – or expressed – contract must exist, which states the nature of the personal property in question, the nature of repairs needed, and an estimation of fees associated with the repair. Without an expressed and legal contract, a mechanic lien cannot be placed upon any personal property regardless of the status of payment.

Who Can Acquire Abandoned Property?

Who Can Acquire Abandoned Property?

Every state has established different laws and regulations regarding abandoned property. Generally, when property is abandoned by its rightful owner, it must remain unused for a specified period of time, before the government is permitted to acquire control of the property. In most instances, this period ranges from 3 years to 5 years. During the period of inactivity, banks, landlords, and insurance companies must work to locate the absent owner. 
If the owner is located, he/she must be informed of his/her rights and responsibilities regarding the maintenance of the property. If the property is not successfully returned to its lawful owner by the expiration of the inactivity period, the property will be seized by the abandoned-property department located within the state. The owner of the property will no longer maintain ownership rights to the property. The property will subsequently be controlled by the state government.
 

What are Property Consultants

What are Property Consultants

Property consultants are individuals who may be able to assist someone who is looking to buy, sell, or rent a given property. A property consultant might be able to help a private individual looking to do any of these things with regard to a particular piece of property, or he or she might also perform this service for a larger company that might be looking to buy, rent, or sell a given property. 
Most often, a property consultant is necessary because the individual or company interested in buying, selling, or renting a given property does not in itself have the necessary expertise or experience to be able to get the best deals regarding that property without assistance. 
Property consultants will always be external help brought in to assist the buyer, seller, or renter with their expertise. Property consultants are generally available all over the entire United States of America, as individuals everywhere might need the services of a property consultant in order to get the best deal for a particular property.
An individual attempting to sell a property would likely pay a property consultant or property consultants with some percentage of the total sale of the property in question. This means that property consultants would have it in their own best interests to ensure that an individual would sell the property for the best possible price, as it would ensure that the property consultants themselves would get the best possible payment on the sale.

What You Must Know About Property Brokers

What You Must Know About Property Brokers

Property brokers are those individuals who help others to buy or sell real estate property. They act as agents for their clients, performing the search for property to buy, or for buyer to whom they could sell, in their clients’ steads. A property agent, as an agent for his or her client, is afforded certain legal powers with regard to that client, depending upon the initial contract which established the agent status of the real estate broker. 
Realtor agents are required to act in the favor of their clients, as acting in their clients’ disfavor would revoke their agent status, but they can make deals and contracts for their clients, assuming that the initial contract gave them such power. Property brokers are separate from real estate salespersons, in that property brokers are often better trained and better educated than a real estate salesperson might be out of necessity. 
Furthermore, as mentioned above, the agent status of realtor agents and of a property agent is significant legally in terms of that agent’s responsibilities and powers. For example, property dealers officially acting as agents must divulge on whose behalf they are acting, whereas someone selling with no agent property salespeople might not be able put the same responsibility on those salespeople.
It is entirely possible to sell one’s own property without the help of property dealers. Selling no agent property is often more difficult than it is selling that same property with the help of property brokers, however, as the no agent property would be entirely left up to the owner to sell. 
This means the owner, who might not have the requisite experience, would not only have to set his or her own price correctly, but he or she would also have to find buyers on his or her own, and then manage the negotiations and deal making on his or her own. This is why no agent property sales are generally not as recommended.