![]() The most popular of these forms of organization for owning real estate is the limited partnership. When purchasers group together for investment purposes, they often use various forms of organization-corporations, partnerships, limited partnerships, joint ventures, and business trusts. In purchasing real estate, however, buyers frequently complicate matters by grouping together-because of marriage, close friendship, or simply in order to finance the purchase more easily This is ownership by one individual, known as ownership in severalty Ownership by one individual. One form of ownership of real property is legally quite simple, although lawyers refer to it with a complicated-sounding name. Our emphasis here is not on what is being acquired (the type of property interest) but on how the property is owned. The transfer of property begins with the buyer’s selection of a form of ownership. We conclude by briefly examining adverse possession-a method of acquiring property for free. In this chapter, we focus on the unique features of these contracts, with the exception of mortgages ( Chapter 17 "Mortgages and Nonconsensual Liens") and property insurance ( Chapter 15 "Insurance").
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |