Everything we own, use, buy, and sell involves a couple of laws to maintain sanity within people. Additionally, it also refers to equality between people and communities protecting them from theft and fraud. Similar to other laws applicable in a country or legislations, the law on property plays an important part while dealing with properties and real estate.
What Is Property Law?
Law on property, sometimes called real estate law, is about what happens when someone buys or sells a home or business.
It also covers things like property finance, mortgage loans, and social housing.
Two types of properties are mainly addressed in this law. This law includes personal property and commercial property.
What Are The Main Subjects Of Interest Covered?
The following are the main subjects involved with the real estate law.
- Adverse possessions
- Disputes over land
- Easements
- Licenses
- Mortgages
- Ownership of land
- Tenancies
- Transfer of land
Property Law: Personal And Commercial Properties
The law varies with the type of property. Here is a brief on laws associated with both personal and commercial properties.
Personal Property Law
Law on personal properties deals with all the legal aspects of buying or selling property, whether it’s a home or a personal property.
Property lawyers work with both UK and foreign clients who want to buy or sell property in the UK or abroad.
Commercial Property Law
Law on commercial properties is a branch of real estate law that focuses on the legal aspects of the acquisition and sale of commercial real estate.
Commercial property attorneys can serve a wide range of clients, from farmers to hoteliers to nonprofit organizations.
Grounds for Divorce focuses on real estate used for business purposes or that generates revenue for the owner of the property.
Intellectual Property Law
Intellectual Property law is all about protecting and enforcing the rights of people who create, write, make music, design, and own other things called “intellectual property“.
There are lots of different areas of IP law, like copyright, trademark, patent, and trade secrets.
What Is The Law Of Property Act 1925?
The Law of Property (LPA) 1925, also known as the Law of Property (15 and 16 Geo. 5, c. 20), is a Statute of the UK Parliament.
It is one of a series of pieces of legislation introduced by the Lord Chancellor, Lord Birkenhead, between the years of 1922 and 1925 to modernize the law of real property in England.
The main purpose of the Act is to deal with the transfer of land by deed, whether it be freehold land or leasehold land.
As amended, the Property Law Act of 1925 forms the basis of English land law.
It deals with many aspects of land, particularly freehold land, which is itself an essential element of all other types of interests in land.
Property Law In India
India’s real estate is governed by a combination of Federal and State-specific laws, as per Article 246 of the Constitution.
Land is covered under the State List, while property transfer, registration, and contracts are listed under the Concurrent List.
India’s diverse sects often apply customary principles and codified laws.
The higher judiciary also makes judicial pronouncements on real estate law, guiding its interpretation.
The main legislation governing real estate in India includes:
1. Transfer Of Property Act, 1882: The Act, a central law, outlines principles for movable and immovable property, including sale, exchange, mortgage, lease, gift, part performance, and lis pendens, which all states must adopt.
2. Indian Easement Act, 1882: The law on easement rights to property is governed by the Act.
3. Registration Act, 1908 and Indian Stamp Act, 1899: These Acts make sure stamp duty is paid and that certain deeds, documents, and instruments related to transferring interest in property are registered.
4. The Indian Contract Act, 1872: This law deals with contracts in India.
It covers things like when you can sign a contract, when you can execute and carry out a contract if you can break a contract, and what legal remedies you can take.
5. Right To Fair Compensation And Transparency In Land Acquisition, Rehabilitation And Resettlement Act, 2013: This law regulates how the government can buy private land for specific public uses or for a business, and what kind of compensation/rehabilitation the government can do with it.
6. Land Revenue Codes: India’s states have created land revenue codes, governing agricultural land-holding, tenancy, property classification, transfer restrictions, revenue officer powers, duties, rules, regulations, and penalties for violating them.
7. The Real Estate (Regulation And Development) Act, 2016 (RERA): The Act regulates real estate projects, consumer interests, dispute resolution, and registration, with a mechanism for dispute resolution through the Real Estate Regulatory Authority and Appellate Tribunal, and corresponding state regulations.
8. Foreign Exchange Management Act, 1999 (FEMA) And Foreign Direct Investment Policy (FDI Policy): The FEMA regulations govern foreign investment in India’s real estate sector, regulated by the Government, DIPP, and RBI, and cover the purchase/sale of immovable property by non-residents and compliance parameters.
Additionally, India’s real estate sector is governed by various laws, policies, and customs, including urban development, slum rehabilitation, rent control, and environmental protection regulations.
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What Is The CT Law Regarding Tree Near Property Line?
If you have a tree growing on someone else’s property and it’s starting to take up too much space on your land, you can cut it off up to your property line.
That’s according to Connecticut case law, and it’s based on a case that was made in 1971 called McCrann vs. Town Planning and Zoning Commission (161 Conn. 65).
It’s important to know that if you cut down a tree on someone else’s property without permission, you’re legally responsible for up to 5 times the tree’s worth.
If you accidentally cut down a tree because you thought it was on your land, you’ll only have to pay the owner the tree’s fair market value.
To avoid any legal issues, it’s always a good idea to talk to your neighbor before you cut or trim any tree that’s getting too close to your property.
Property owners have a legal obligation to make sure the trees on their property don’t put anyone in any kind of danger.
If you’ve got a tree that’s not healthy, is rotting, or is just generally dangerous, and it’s close enough to your neighbors that it could put them or their property in danger, you’re responsible for any damage it causes.
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Final Thoughts
Property owners often have a hard time figuring out what property law is and how it applies to them.
This is because laws on properties apply to a lot of different areas, like death, co-ownership, and defending property from creditors.
That’s why it’s so important for property owners to understand the basics of real estate law so they can navigate real estate transactions more easily.
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