All you need to know about Property Law

Property law is the guideline defining the underlying principles of ownership of property including land and personal items; how they can be used and what the prevailing conditions are. Property law is applicable to both real and personal properties. The area of law that deals with owning and using property create a huge impact on society. Property law is a vital aspect of estate law, family law as well as municipal law.

The difference between real property and personal property

Real property and personal property are the two types of properties. The land along with everything attached to it including house, commercial buildings, a garage or barn is essentially real property also known as immovable property. Personal property, on the other hand, is something that one is in possession of or owns. A car, for example, is personal property and so is a chair, a computer and anything that cannot be categorized as land or building are personal property. The vast majority of people own at least some sort of personal property.

Transfer of property

It's essential for property owners to be aware of how they can be owners of properties and the steps that they need to take to ensure that there is a legal transfer of ownership by selling or gifting by consulting the expert property lawyer registered on Vidhikarya

What is a deed?

 A legal document stating the owners of real property is essentially what a deed is. The extent of the legal interest of a person depends on the nature of the deed that a person possesses. A warranty deed, for example, is an assurance for the purchaser that there aren’t any encumbrances on the property and that there is free and clear ownership.

Compulsory Acquisition

As and when required for public use, the government can grab private property. The government’s right to taking real property from an owner of private property is known as eminent domain. The government’s acquisition of private property overrides any possible objections. In other words, regardless of any possible objections, the government has the right to acquire private property on the condition that the property owner is amply and fairly compensated. Restrictions apply to Compulsory Acquisition and are quite often the crux of legal challenges.

Adverse possession

People have the right to legally claim ownership of property without making any payments in one-off cases. To claim ownership or acquire property as though it's one’s right requires a person to be staying or occupying the property for a considerable period of time. Adverse possession is a common issue when property owners who may be neighbors use inaccurate boundaries for far too long a time. The intent of adverse possession is settling disputes over land and ensuring that there isn’t any vacant land without a claimant.

Easement

Easement empowers a person to use property that’s owned by someone else. A right of access or easement is the right of using the property even though the owner maybe someone else. If there isn’t any direct access to one’s property then the only way out is trespassing. A trespasser as we all know can be prosecuted, however, because of an easement that one may have over a property, one is deemed to have legal protection from prosecution. How an easement can provide relief to an otherwise trespasser oftentimes is a contentious issue resulting in litigation.