Property rule statements

Real property law addresses the rights and interests associated with land, buildings, and other immovable property. Topics include property ownership, estates in land, landlord-tenant law, easements, covenants, zoning, mortgages, and the transfer of property interests. Attorneys practicing real property law must be knowledgeable about these concepts to effectively advise clients on property transactions, disputes, and related legal matters.

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Easement

An easement is a non-possessory right to use another person's land for a specific purpose. There are several types of easements, including an easement appurtenant (benefits an adjoining land), easement in gross (benefits an individual or entity, regardless of property ownership), affirmative easement (permits certain use), and negative easement (prevents certain use). Easements can be established expressly through granting or reservation, or implicitly through prescription, necessity, implication, or estoppel.

Tenant's Duties at Common Law

At common law, a tenant has a duty to pay rent and maintain the premises, which includes making ordinary repairs and avoiding waste, whether it be voluntary, permissive, or ameliorative. If a tenant uses the premises for illegal purposes, the landlord may terminate the lease, seek damages, or obtain injunctive relief. Additionally, if third parties invited by the tenant suffer injuries, the tenant is liable, even if the landlord promised to make repairs.

Adverse possession

Adverse possession is a means by which a trespasser may acquire title to another's property without compensation by possessing the property for a specified period in a manner conflicting with the true owner's rights. The trespasser's possession must be continuous for the statutory period, open and notorious, actual and exclusive, and hostile to the true owner's interest.

Land Sale Contract

A land sale contract must be in writing, signed by the parties to be bound, and articulate essential terms, such as the consideration to be paid and a description of the land, to be enforceable under the Statute of Frauds. However, if the buyer takes possession and either (1) pays all or part of the purchase price or (2) makes substantial improvements, the contract is outside the Statute of Frauds.

Equitable Conversion

Equitable conversion applies once a contract for the sale of property is signed, but before legal title is transferred during the closing. The buyer is deemed the equitable owner of the property and the seller retains legal title as security for the payment of the purchase price. This means that despite not yet holding legal title, the buyer generally assumes the risk of loss or damage to the property during this interim period. The seller, though holding legal title, is essentially holding it in trust for the buyer until the transaction is finalized.

Other subjects

Business Associations Civil Procedure Constitutional Law Contracts Criminal Law Criminal Procedure Evidence Family Law Professional Responsibility Secured Transactions Torts Wills and Trusts