Types of Ownership
Forms of Ownership Ownership in severalty/sole ownership Ownership in severalty One individual holds the title. Sole rights to ownership. Sole discretion to transfer part or all ownership rights to another […]
Encumbrances and Effects on Property Ownership
Liens A lien is a financial encumbrance, which gives a creditor the right to foreclose on the property if the property owner doesn’t repay a debt Liens When a lien […]
Land Characteristics and Legal Descriptions
Legal Description Definition A property description is more accurate than street addresses and required in contracts, deeds, or other real property transfers. The three primary methods of legal descriptions are […]
Real vs. Personal Property
Transferring Real and Personal Property Transferring Real Property Deed Fixtures A fixture is a personal property that has been so attached to the land or a building that, by law, […]