Real Estate
Real estate law encompasses the rules and regulations that govern the ownership, use, and transfer of land and buildings. It covers a wide range of issues, including property transactions, zoning, land use, leases, mortgages, and property development. Below is an overview of key aspects of real estate law:
Property Ownership
Title
Legal ownership of property is established through the title, a legal document proving ownership. It can be transferred through sale, inheritance, or gift.
Deeds
A deed is a written document that transfers ownership of property from one person to another. It must be properly executed and recorded to be effective.
Property Transactions
Contracts
Real estate transactions usually involve contracts, such as purchase agreements, that outline the terms and conditions of the sale.
Escrow
In many transactions, an escrow account is used to hold funds until all conditions of the sale are met.
Closing
The final step in a real estate transaction where ownership is transferred, and the buyer receives the title.
