By McGraw-Hill, Curriculum Technology
Real property legislation for Paralegals provides scholars with a transparent, easy-to-understand, and fascinating textual content during which they're going to know about genuine estate, own estate, and the entire elements inherent in actual property. The textual content contains a bankruptcy committed exclusively to genuine property closings. the scholars have entry to varied workouts, circumstances, and hands-on studying assignments (including pattern types) protecting subject matters starting from “Regulations and Encumbrances” to “Recording Statutes and Examinations.”
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Extra info for McGraw-Hill's Real Estate Law for Paralegals
Community property refers to a married couple and what each brought into the marriage and property which they acquired together during the marriage. her interest in the real property, the sale will create a severance of the joint tenancy. If a joint tenant decides to convey his interest in the property to a third person, the joint tenancy will be severed. However, suppose that three joint tenants own a particular piece of property. One of the joint tenants decides to convey her interest to someone else.
Also, suppose Matt, Bob, and John hold a piece of property as a joint tenancy. Matt decides that he does not want an interest in the property any longer. Matt conveys his interest to Bob. Bob and John remain joint tenants in the property. However, the interest that Matt conveyed to Bob will be held as a tenancy in common with the joint tenancy just as if Bob were a stranger. Think of it as a pie that is divided into three sections. Two-thirds of the pie will remain intact, and the other one-third will be its own slice.
Indd Page 13 10/1/07 6:45:33 PM user /Volumes/206/MHIL073/mhmhhe1%0/mhhe1ch01 Summary One of the most coveted real property rights is that of possession, and the law gives substantial protection to this right. If a person obtains possession of a piece of property unlawfully, she is also provided with the right to exclude anyone else from possession except for the true owner of that real property. The longer the person continues in possession of the property, the stronger the presumption is that her possession began lawfully as opposed to unlawfully.