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 free hold form of and ownership where an estate of land is owned completely without any limitations or stringed conditions. Fee usually in this context is used to refer to the properties having a vested, Inheritable present possessory interest on the estate. Fee Simple Estate are usually created when the deed of the estate gives land with no conditions at all hence the common.
This ownership of estate is usually created where the length of duration of the freehold estate are uncertain and unknown. Fee Simple absolute is also the largest estate ownership in terms of duration due to the uncertainty in time. A person that holds property in fee simple absolute in the United States has the right to do whatever they intend to with the land including dispose the property, Sell the property, grow perennial crops, Remove 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 use of land by the adverse possessor while punishing land owners 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 but instead it gives the person some vested property right. Only upon meeting the set statutory rights minimum allowed requirements for adverse possession from which 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. 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 interest of the owner but not under owner’s permission
Statutory Period. 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 US Legal and economic system some of the laws and regulation limiting rights of property owners include
Police Powers ,This is termed as the power of a state to curtail private rights for the improvement of the general public welfare. This includes powers such as those in Zoning Ordinance and building Codes of a particular area.
Environmental Regulation are the other limitations on property. Are regulations set to control 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 use of the property through Private agreement declarations serves as a restriction on the use of the land 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 user a leaser’s property for a stipulated period of time. It’s the ownership of a temporary right to hold property for a period. The 4 types of Leasehold Estate
Fixed Term Estate
Also referred to as Estate for years is an leasehold estate that has a specific duration of 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 owner gives consent.
Estate in Sufferance
This occurs when tenant holds over beyond the expiration of the agree upon time. This occurs when tenant come to property lawfully but continue to stay past the expired lease agreement term.