Real Estate Law Week 1 Ind wrk Research Paper Example | Topics and Well Written Essays - 250 words

Real Estate Law Week 1 Ind wrk - Research Paper Example This is because, unlike personal property which is essentially, movable items which are not part of the land, real property refers to land and the things that are permanently affixed to that land. In this regard, notice that even if you should intend to sell the land upon which the house rests, neither will unseat the house from the land, nor can you sell the house minus the land. In another wavelength, it is imperative that you determine the type of real property ownership your house will be under. There is life estate where the right to possess, access and use this house will be limited to the proprietor’s (the Daryl’s) lifetime. In this case, the Darryls may give or sell away the property, later. The family can also resort to free simple which is outright ownership. There is also future interest where the family can seek the right to won the house sometime in future. The Darryls may also consider contingent interest or lienholder where ownership is comes into existence only where specific conditions are fulfilled, or where the Darryls as the holder of a mortgage, judgment lien, deed of trust or mechanic’s lien on real estate take ownership interest in the real property, respectively (Elias,