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Property Law

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Possession of Property before Foreclosure

The mortgagor has the right to possess the property as long as she doesn’t default. The mortgage agreement specifies what constitutes default, but generally acts of default include failure to repay the [more…]

Property Law: Mortgage Defaults

If the mortgagor defaults, the mortgagee can foreclose, meaning the mortgagee can sell the mortgaged property and keep as much of the proceeds as needed to pay off the mortgagor’s debt. The mortgagee may [more…]

Extinguishing Junior Interests in a Mortgage

In a mortgage foreclosure, foreclosing mortgagee has the right to sell the same title that the mortgagor owned at the time she gave the mortgage to the mortgagee. After the mortgage is created, the mortgagor [more…]

How the Proceeds of a Foreclosure Sale are Distributed

In a foreclosure sale, the mortgaged property is sold to the high bidder in a public auction. If the property is foreclosed in a judicial action, a sheriff or other public official may conduct the sale [more…]

Anti-Deficiency Statutes Protect Mortgagor

Property law declares that a defaulting mortgagor can suffer serious consequences. If she can’t pay her debt, she’ll lose her property in a foreclosure sale. The winning bid will almost surely not be as [more…]

Statues that Protect the Mortgagee

Here are the statues that protect the mortgagee in a foreclosure, and other details about redemption of the property per the various laws that apply. [more…]

Transferring Mortgaged Property

The owner of mortgaged property can transfer her property just like any other owner. But she can’t change the rights of the mortgagee. Because a mortgage is an interest in land, it stays with the land [more…]

Ten Property Subjects Commonly Tested in Bar Exams

You may wonder what property law you need to know in order to pass the bar exam. If only the bar examiners would tell you the questions beforehand, you’d be sure to find the right answers and know what [more…]

Ten Common Mistakes in Applying Property Law

Everyone makes mistakes. In fact, people often make the same mistakes. Here are ten common mistakes property law students make in applying property law. Now, there is no hard evidence that these are the [more…]

Identify Recordable Property Documents

State statutes specify the requirements for recording a document regarding a property. Generally, any conveyance of any interest in land may be recorded. Typically, the state statute doesn’t require recording [more…]

Comply with Conditions for Recording Title

A person records a recordable document by taking it to a county official, who has the duty to maintain such real property records concerning property in the county. The county official doesn’t evaluate [more…]

Using Indexes to Find Recorded Documents

The recording system helps people determine the state of title before buying an interest in land. A buyer wants to know, for example, whether someone has an outstanding mortgage that will result in the [more…]

Distinguishing the Three Types of Recording Statutes

Although recording acts differ among the states, all recording acts make an unrecorded prior interest unenforceable against a later interest in some situations. So even though you don’t have to record [more…]

Determine Whether an Interest Is Recorded

Property law provides that all recording acts protect later interests against prior interests only when the prior interest isn’t recorded. So if a prior interest [more…]

Paying Value for Property Interest

All recording acts but two of the race statutes protect a later interest from a prior interest only if the owner of the later interest paid value for it. The recording statutes are generally meant to protect [more…]

Recording Documents in Property Law

The principle of first in time, first in right may seem unquestionably right and fair. Someone shouldn’t be able to give away someone else’s property rights. But selling an interest that conflicts with [more…]

Merging a Purchase Agreement with a Deed

The buyer and seller of real estate typically sign a purchase agreement, an executory contract that obligates the parties to buy and sell the real estate on certain conditions. They may make various promises [more…]

The Formal Requirements for a Deed

A deed is generally a pretty short and simple legal document, maybe just a couple of pages long. Sometimes deeds use exotic-sounding, or archaic-sounding, legal terminology. But the formal requirements [more…]

A Deed’s Traditional Parts

Deeds traditionally contained more than the elements required today. You may still run into these traditional components, so it’s good to be familiar with them: [more…]

How Land is Identified in a Deed

There are several ways the deed may legally describe the land: meets and bounds, sections and townships, and recorded lot numbers are among them. They are described in detail here. [more…]

The Duration and Sharing of Ownership

An individual can own all the legal ownership rights in an item of real or personal property. But often, more than one person has some ownership rights in a particular property. [more…]

Original Property Rights

In the property law arena, anything that’s owned must have a first owner. Here are some of the ways that a thing first becomes owned as property: [more…]

Transfer Property Rights to Another

One of the basic property rights of ownership is the right to transfer your rights to other people. An owner can give away just some of her rights but remain the owner, such as by giving someone an easement [more…]

Distinguish between Real Property and Personal Property

Anything that can be legally owned may be called property. All property can be grouped into two main categories: real property and personal property. Personal property can be further classified as chattels [more…]

A Property Owner’s Rights

In property law, owning something means you can enforce legal rights concerning it. It doesn’t take a property lawyer to identify the basic categories of rights that come with property ownership. If you [more…]

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