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Property Owner at a Glance

Property Owner at a Glance

A property owner is the individual who currently holds the property rights for a piece of property. In terms of personal property, a property owner is generally the individual currently in physical possession of the item, as property ownership for personal items is not often designated via any kind of legal contract or document. 
There are, of course, exceptions, particularly for very valuable property ownership, and just because an individual might not have any document confirming his or her property ownership for a piece of personal property, it does not mean that he or she would cease to be the property owner if a thief were to physically steal the piece of property in question.
Real estate property owners, on the other hand, almost always do have a piece of legal documentation which gives them the property rights towards the real estate property in question. Property owners of real estate thus can always prove their property ownership simply by resorting to this legal documentation, a copy of which is often filed with a government agency for the purposes of taxes and record-keeping. 
When property ownership of a given piece of real estate property changes, and there is a new property owner, then the title to that property should change as well, thereby guaranteeing that the individual who obtained the property has the documentation to prove that he or she has that documentation.
Property owners are afforded many rights to their property, such as the rights to sell the property, to rent their property, and to use their property exclusively.

Find the Right Property with a Property Search

Find the Right Property with a Property Search

For an individual looking to find property, there are a number of different tools available on the Internet. Property finder websites can allow an individual to perform a property ownership search in order to find out information about a particular property, or to find property in a particular area that conforms with the search terms of the searcher. 
For example, if an individual found a house that he or she liked as he or she was on his or her way to another location, and he or she decided that he or she would like to learn more about purchasing that property, then he or she might conduct a property search on the Internet in order to find out more information about that particular property.
There are a number of different property finder tools available to conduct such a property search, some of which might be websites on which an individual might specifically choose to put up information about his or her own property in order to help facilitate a sale, others of which might simply collect information which is available publicly elsewhere in order to create a profile for the property in question. 
For example, the Public Records Online Directory is a way for individuals to search publicly available tax records to find information such as who might own a particular piece of property, thus performing a property ownership search. Other websites such as Zillow, however, perform the functions of a property finder or property search engine in another way. These websites might find property based on how much that property costs, and would only perform a property search through properties that have been put up for sale.

The Legal Power of Eminent Domain

The Legal Power of Eminent Domain

Eminent domain is a legal power granted to the state with regard to all the property within the state. Eminent domain powers allow the state to actually take any property within that state to use for the sake of a public construction. 
Eminent domain does not allow for the seizing of land without compensation, however, as the current owner of any land seized under eminent domain must be compensated with the fair market value of the land being seized. Eminent domain, as a power granted to the states, can be exercised in a court of law in order to ensure the sale of land in question, but a buyer might also be willing to sell the land to the state without any court intervention.
If the case of eminent domain sale does go to court, then the state government has a responsibility to indicate that the negotiations over the land in question were fair and performed in good faith, but was still unsuccessful, and that the government’s purpose for the land is to use it for some kind of publicly beneficial project.
Not all eminent domain court proceedings will automatically go in favor of the government, as it is possible that the person currently in possession of the land will make a successful case that he or she should retain control of the land. 
But if the case does go in the favor of the government, then the individual who owns the land will be paid a fair market value for the land, which will immediately be used to pay off any outstanding mortgages or liens on the land, and the government will gain full title to the land.

Property Developer

Property Developer

A property developer is an individual who performs real estate development for a living. A property developer, in other words, takes land or real estate property and then improves it in some fashion so as to sell it and thereby make a profit. Real estate developers might develop buildings and other edifices through renovation, but they might also perform raw land development, which might involve improving that land in some capacity to entice some form of construction to occur on the land. 
For example, property developers might purchase large tracts of empty, raw land, and might then subdivide that land into a number of smaller units, each of which is easily built upon. Then, the property developers might contact a construction company and convince that company to produce buildings, like houses, on the property. Thus, these real estate developers would have created a housing subdivision, and would have profited by selling the land.
Becoming a property developer is often relatively difficult from a skills-based perspective, but relatively easy from a perspective of who might have the tools to do it. In other words, successful property developers are those individuals who either already are aware, or who learn quickly the important rules and tools of real estate development, but anybody might get into the career, with the right assistance. 
In general, real estate developers will want to buy property at the lowest price possible, as this is one of the best ways to maximize profit, and will then develop that property for sale.

Do You Know Your Property Rights?

Do You Know Your Property Rights?

Property rights, as a whole, are the fundamental concept that an individual has the right to his or her property. An individual has property rights to all the property which he or she has control over in terms of its use and disposition. When two individuals exchange property, they are fundamentally exchanging property rights for the property in question. 
The entire property market thrives on this conception of property rights, as without property rights, there could be no property market in which property is exchanged between different parties for other pieces of property. Property rights are also critical for the functioning of a property market because property rights determine what exactly a given individual can do with property, beyond merely using it and selling it. 
An individual with property rights to a given piece of property would not only be able to use that property as he or she saw fit, but he or she would also be able to rent that property or lease it to a different user as he or she saw fit, which allows for a versatility within the property market that would not necessarily be present otherwise.
If, for example, a given individual held property rights to a piece of hunting property, then he or she might actually choose to exert those property rights in order to disallow anyone else from using that hunting property. The same individual could use his or her property rights in order to allow individuals to rent that hunting property, however, thereby opening up a new opportunity on the property market.

An Overview of a Lien on Property

An Overview of a Lien on Property

A lien is a specific form of security interest which is given to a particular entity or individual in order to secure some kind of payment. A lien might be given, for example, to a car mechanic who fixed another individual’s car, if that other individual then refused to pay the mechanic. 
The lien, in this case, would likely be given on the car itself, and it would mean that the car mechanic would have some element of property rights to the care. Lien on property, then, in general means that the holder of the lien has rights to the property, particularly in terms of selling that property in order to make up the money lost in the transaction.
One common form of a lien on property is that of a tax lien, which a lien on a particular piece of property is in order to secure the owner’s payment of taxes. Tax lien properties are put under a lien by the government that was performing the taxation, in order to make the property owner pay the taxes. 
Tax lien properties are different from regular properties; however, as tax liens actually travel with the property upon which the lien is placed. This is different from many other forms of lien, particularly in terms of a lien on property which is personal property and not real property. Tax lien properties, thus, will retain their liens if they change hands, meaning that the new owners of these tax lien properties will have to pay for the liens.

The Process of Repossessing Property

The Process of Repossessing Property

Repossession is the act of repossessing a given piece of property which was used as collateral for a given loan, or that was rented or leased, instead of being sold in its entirety. Repossessed property, then, is the property which is taken back by the repossessing party. In understanding the basic nature of repossessed property, it is important to comprehend that there is a difference between repossessed property and other forms of collateral. 
For something to be considered repossessed property, that piece of property must always have been owned by the party that eventually repossesses the property. This is very significant, as property over which a given party has the right of ownership cannot be repossessed by another party. Repossessed property is specifically property that is taken back by the party that has full rights to that property.
Repossessed property is taken back normally because the possessor (not the owner/repossessor) failed to make some payment according to the plan associated with the repossessed property. 
In such cases, the owner/repossessor may repossess the property without needing any kind of court injunction, as it has full rights to the repossessed property. The party taking back the repossessed property will likely sell that property in order to make the money which the possessor had not paid within the deal for the property. 

The Facts About Public Property

The Facts About Public Property

Public property is property which is not owned or held by any particular, single entity or owner. Public property is instead owned by “the people”, which further means that it is not held by a distinguished group of people. For example, property in a park might be considered public property, because there is no given owner or individual who can legally restrict other individuals from entering that park. 
On the other hand, if the piece of property under consideration were an arboretum, entry to which might be restricted by an owner, then it would most certainly not be considered public property. Public property, in some schools of thought, is held as similar to state property for all intents and purposes, as state property is property held by the state often for the sake of the public interested. 
Put another way, public property might be held as state property so that the state can best serve the interests of the public, who technically owns the public property. This idea is not without its detractors and supporters, however, who argue concerning its value and legitimacy.
Ultimately, because public property in the modern world is held by the government in some form, public property records are held within government offices regarding all the public property which the government might hold in custody for the public. 
Public property records will likely give such information as the exact location of the pieces of public property in question, along with the sizes of these pieces of public property and the use to which they are put. Public property records are available and accessible to any citizen to examine, as the information in public property records is kept publicly.

The Facts About Private Property

The Facts About Private Property

Private property, in the most basic form of the term, refers to property which is owned privately, by either a person or a person-like legal entity such as a company. Private property can be real estate, or it can be personal property, which is property which can be easily transported. Private property is primarily important for how it implies the rights of that property fall with regard to owners.
An owner of private property has all rights to the private property sales and private property rentals of that piece of private property. For example, someone who owns a piece of personal property, such as a computer, would then have full rights to either conduct private property sales of that computer and its constituent pieces, or even to rent out use of that computer to another individual as the owner sees fit. 
Personal property and real property both involve such rights being granted to the owner of this private property, though the exact circumstances which are necessary to be considered an owner of the private property may vary between personal property and real property.
One of the most important concepts with regard to private property, and the rights of private property sales and private property rentals, is the contract between private property and public property. For public property, there is no individual who has such rights to the property that he or she might then either rent or sell that property. 
The government might theoretically have the right to rescind the status of public property, but otherwise, ownership rights are not held by any given entity. Personal property or real property that is held privately, however, is under the full control of the owner.

What are Shared Ownership Properties

What are Shared Ownership Properties

Shared ownership properties are those properties in which multiple property partners all hold some right of ownership towards the property. Shared ownership properties are also referred to as fractional ownership properties in some instances. Shared ownership properties are often split up in terms of shares, just as a company might be split up into shares, with some individuals owning more or less of a share to the shared ownership properties than do others. 
However, in shared ownership properties, each of the property partners may have only some small share of the ownership of the entire property. Shared ownership properties are often appealing because the different property partners of shared ownership properties might have many of the benefits of ownership, albeit in a reduced form, while also having the responsibilities and problems of ownership, such as costs for the properties, being reduced and diluted.
In terms of real estate, shared ownership properties are often evidenced as timeshares, with the property partners being referred to as shareholders. Shared ownership properties might also be private clubs of some kind, where the property partners essentially buy some share of the clubs in order to have access to those clubs, which are otherwise exclusive. Friends and family members might choose to buy shared ownership properties as vacation homes for the entire family, as well, in a less business oriented type of shared ownership property. 
Often, shared ownership properties for real property will involve the property partners sharing possession of the physical house or property such that each of the property partners will be able to use the house at different parts of the year.
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