Property Law and Conveyancing FAQs

The two main categories of property are real property and personal property. Real property includes land and anything permanently attached to it, such as houses or buildings. Personal property refers to movable items like furniture, electronics, or vehicles, and can further be classified into tangible and intangible property.

A deed is a legal document that formally transfers ownership of real property from one person to another. It must be signed, witnessed, and sometimes notarized to be valid. There are different types of deeds, including warranty deeds, which offer guarantees about the property’s title, and quitclaim deeds, which transfer ownership without any guarantees.

Freehold property refers to land or buildings that are owned outright, with no time limit on the ownership. Leasehold property, on the other hand, means that the property is leased from the freeholder for a specific period, after which ownership reverts to the landlord unless the lease is renewed. Freehold ownership typically provides more control over the property than leasehold.

An easement is a legal right that allows a person to use another person’s property for a specific purpose, such as access to a road or utility lines. Easements can be either permanent or temporary, depending on the terms of the agreement. They do not grant ownership but instead allow limited use of the property.

Zoning laws are regulations that determine how land within a certain area can be used, such as for residential, commercial, industrial, or agricultural purposes. They help ensure that property development and land use are compatible with surrounding areas and promote public safety and well-being. Zoning laws also dictate the size, height, and type of buildings that can be constructed in specific areas.

Adverse possession is a legal principle that allows a person to claim ownership of land under certain conditions, such as continuous and overt use without permission for a specific period, usually 10 to 20 years. The use must be without the consent of the original owner and must be continuous, exclusive, and open. It’s a method of acquiring title to property when the rightful owner has not exercised control or asserted ownership over a long period.

Property taxes are taxes levied by local governments on the value of real property, which homeowners and property owners are required to pay annually. The amount of tax is typically determined by the value of the property as assessed by local authorities. These taxes help fund local services such as schools, police, and public infrastructure.

A title search is a process of examining public records to confirm a property’s legal ownership and to identify any claims, liens, or encumbrances on the property. This search is often conducted before purchasing property to ensure that the seller has the right to transfer ownership. It helps prevent legal disputes over ownership and ensures the buyer is aware of any potential issues affecting the property.

A mortgage is a loan agreement in which a borrower pledges real property as collateral for a loan. The lender has the right to foreclose on the property if the borrower fails to repay the loan according to the agreed terms. Mortgages typically involve regular payments of principal and interest over a specified term, with interest rates that can vary depending on the loan agreement.

A will is a legal document in which a person outlines how their property and assets should be distributed after their death. A trust, on the other hand, involves transferring ownership of property to a trustee who manages it on behalf of beneficiaries. Trusts can help avoid probate, provide for ongoing management of property, and offer tax benefits, while a will is a simpler and more direct way to distribute property.

A landlord’s responsibilities generally include maintaining the property in a safe and habitable condition, making necessary repairs, and ensuring that the property complies with local housing codes. They must also respect the tenant’s right to privacy and follow laws regarding the eviction process. In addition, landlords are required to return a tenant’s security deposit, minus any legitimate deductions for damages, when the lease ends.

Tenants have the responsibility to pay rent on time, maintain the property in good condition, and comply with the terms of the lease agreement. They must also avoid causing damage to the property and report any issues that need repair. Tenants are expected to respect the property and the rights of other tenants, ensuring they do not disturb the peace or violate any laws.

A lien is a legal claim or right against a property, typically to secure the payment of a debt. For example, a mortgage is a type of lien that allows the lender to seize the property if the borrower defaults on the loan. Liens can also arise from unpaid property taxes, contractor services, or judgments, and they can prevent the property from being sold or transferred without satisfying the debt.

The process of transferring property ownership usually involves a written agreement, such as a deed, that must be signed by both the seller and the buyer. The deed is then recorded with the appropriate local government office to make the transfer official. Afterward, the buyer assumes ownership and responsibility for the property, including any taxes, utilities, and maintenance.