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?
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