Real and Personal Property. Chapter 8. Oldest part of common law Concepts from common law developed in England from 12 th to 16 th centuries Right guaranteed and protected by government. Real Property: immovable (i.e. land, trees, houses)
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Concepts from common law developed in England from 12th to 16th centuries
Right guaranteed and protected by government
Real Property: immovable (i.e. land, trees, houses)
Personal Property (chattel): moveable (i.e. furniture and clothing)
Contract law is used to make arrangements about the property useLaw of Property
Most common way to transfer ownership—warranty deeds most popular
ID original owner, describe land, ID new owner & state that ownership is transferred, possibly subject to certain conditions
Comes from receipt of valid deed; is means by which owner has legal possession of the property
“Formal right of ownership”–sell, use, give–control it
Titles are recorded by state officials (usually county)
When property is transferred, usual to obtain title insurance (depends on state)
See Campisi v. Acme Markets, Inc.