PROPERTY LAW
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PROPERTY LAW
Property Law refers to laws and regulations that govern the various forms of ownership of real property and personal property. Fee Simple fundamental law, also commonly referred to as Fee Simple, is a freehold form of ownership where an estate of land is owned completely without limitations or stringed conditions. In this context, the fee refers to the properties having a vested, Inheritable present possessory interest on the Estate. Fee Simple Estate is usually created when the estate deed gives land with no conditions, hence the common.
This ownership of Estate is usually created where the duration of the freehold estate is uncertain and unknown. Fee Simple absolute is also the largest estate ownership in terms of duration due to time uncertainty. A person who holds the property in fee simple absolute in the United States has the right to do whatever they intend to with the land, including disposing of the property, selling the property, growing perennial crops, Removing trees, or other features present or build on it. The person is said to have the right to possession, right to Alienation, and right to Exclusion.
Adverse possession is a well-known doctrine that allows individuals to claim land owned by another individual. It’s mainly aimed at rewarding productive land use by the adverse possessor while punishing landowners who leave their land dormant, subsequently ‘Sleeping on their rights. However, Adverse possession alone doesn’t give ownership to a land and a legal title; instead, it gives the person some vested property. Only upon meeting the set statutory rights minimum allowed requirements for adverse possession. Now they can kick start a quiet title action where they pursue a legal title for the property. This Statutory requirements for adverse possession include;
Open and Notorious. A person seeking Adverse possession must occupy the land in a manner that is open and obvious to all. Occupation is not supposed to be secretive or trying to be undetected. However, it’s not a requirement for the owner to have known.
.Exclusive. Land must be occupied exclusively by the applicant seeking adverse possession.
Hostile. The occupation has to be hostile and contrary to the owner’s interest but not under its permission.
Statutory Period. The occupation must continue for the specified state’s statutory period, which varies from 3-12 depending on the state.
Continuous and uninterrupted. All the elements for adverse possession must be continuously present for the required statutory period time.
Despite private property rights being the building foundation of the US Legal and economic system, some of the laws and regulation limiting the rights of property owners include
Police Powers, This is termed as the power of a state to curtail private rights to improve general public welfare. This includes powers such as those in the Zoning Ordinance and Building Codes of a particular area.
Environmental regulation is the other limitations on property. Are regulations set to control the environment and biodiversity through promoting quality water discharge to water bodies, Solid Waste regulations, Air
Private agreement limitations You or predecessors agreed upon concerning the property’s use through Private agreement declarations serves as a restriction on land use for other purposes.
Other restrictions and limitations that curtail individuals’ ability to use, finance, and sell your property include a Lifetime Tenancy Agreement given to another individual through a will or specific trust.
A leasehold estate is an agreement that gives a tenant exclusive rights to use a leaser’s property for a stipulated period. It’s the ownership of a temporary right to hold a property for a period. The four types of Leasehold Estate
Fixed Term Estate
Also referred to as Estate for years is a leasehold estate with a specific time stipulated in the leasehold agreement.
. Periodic Tenancy
This refers to a leasehold agreement that specifies a duration of time after which doesn’t end after that time but instead automatically renews unless told otherwise.
Estate at will
This is Estate that can rightfully be terminated at any time, and occupancy continues as long as the owner gives consent.
Estate in Sufferance
This occurs when a tenant holds over beyond the expiration of the agreed-upon time. It occurs when the tenant comes to property lawfully but continue to stay past the expired lease agreement term.