Buying or Selling a Home

Why Real Estate Is Covered by Special Laws

How can different people have an interest in the same property?

Real property can include:

  • the land and everything under it, including minerals and water;
  • anything of value on the land such as crops or timber;
  • the airspace over the land;
  • improvements on the land such as buildings, for example a garage, barn, or fence.

Ownership of these elements may be separate or shared and may also be subject to legal claims or liens. (A lien is a claim against property representing an unpaid debt of the owner or an unpaid judgment entered against the owner by a court of law.)

>>Why is buying or selling a home more complicated than buying or selling an expensive car or boat?
>>How can different people have an interest in the same property?


Practical Law Home | Buying or Selling a Home | Basics of Buying a Home
Basics of Selling a Home | *Why Real Estate Is Covered By Special Laws* | Real Estate Brokers
The Purchase Contract | Financing a Home Purchase | The Closing | The Fair Housing Act
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