| Estates in Property -- Fee Simple |
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| Fee simple is the type of ownership that embraces every interest in property. In other words, when a person owns property in fee simple, there are no limitations on his or her right to possess, use, sell, or pass the property on to his or her descendants through a will or a trust. The owner of a fee simple estate owns the whole bundle of rights. More... |
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| Trespass |
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| An owner of real property, by virtue of the owner's interest in the property, has the right to be free from intrusions upon the property by others. A trespass results from any intentional intrusion upon the property of another. Generally speaking, a property owner's right to prevent such intrusions is absolute. More... |
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| Judgment Liens and Other Types of Liens against Real Property |
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| Most agreements for the sale of real estate contain a clause that requires the seller to convey "marketable title" or "merchantable title" to the buyer. In essence, "marketable title" refers to a title free of encumbrances. A lien is an encumbrance upon real property, and the existence of a lien on real property renders the title unmarketable. More... |
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| Transfers or Assigments of Mortgages |
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| In the real estate finance industry, it is not uncommon for a mortgage loan to be sold one or more times during the life of the loan. When a mortgage lender transfers or assigns its interest in a mortgage loan to another party, some type of written document must be filed to put others on notice of the transfer. More... |
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| Community Property |
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| The origins of the concept of community property are ancient. Briefly said, the phrase "community property" refers to a form of property ownership that exists between a husband and a wife in which each party has a one-half interest in all property acquired by the labor of either party during the course of the parties' marriage. Perhaps the most widely recognized form of community property is the amount of wages earned by one party during the course of a marriage. Several states, mostly clustered in the southwestern United States, continue to recognize the concept of community property. More... |
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