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When a buyer works with a builder to plan the construction of new home, the buyer will have an opportunity to look at models, drawings, plans and specifications. The combination of these documents gives the buyer a general idea of what the home will eventually look like. As the construction progresses, the idea takes form; [...]
Continue reading...Paul was extremely excited about his first year of law school. As he quickly glanced over his syllabus for Real Property Law, he saw several terms he had never seen before. One of the terms that caught Paul’s eye was “usufruct.” Paul decided to do some preliminary research on the topic.
What Is Usufruct?
The meaning of [...]
Property is an external thing that can be owned or possessed. Property can be divided into two categories: tangible and intangible. The word tangible refers to something that has a definable physical form that can be felt or touched. The word intangible refers to something that cannot be perceived by the senses.
Tangible Property
Tangible property consists [...]
The origins of the concept of community property are ancient. Briefly said, the phrase “community property” refers to a form of property ownership that exists between a husband and a wife in which each party has a one-half interest in all property acquired by the labor of either party during the course of the parties’ [...]
Continue reading...What Is A Security Deposit?
Very often, when a landlord and a tenant enter into a lease agreement, the landlord requires the tenant to make some type of payment to the landlord in addition to the first month’s rent. The payment serves as security that the tenant will return the leased premises to the landlord, at [...]