Written By: Sushmit Parsai
The term "property" is used in a variety of contexts. When one looks around the area, everything that is available might be classified as Property. Property can be defined as any tangible or intangible object that has some value to humans. A property's most important feature is the value linked to it. It is a source of riches in one form or another. Although the value can be monetary or personal. Property, in a broad sense, includes land, stock, buildings, and debts owed to another person. When employed in a legal context, however, the term has a distinct meaning. It is the right to enjoy and dispose of goods in any way that one deems appropriate.
the term "property" refers to a person's entire set of legal rights. That is, it involves a man's total ownership of both material and incorporeal things.
The term refers to a man's property rights rather than his rights.
The word encompasses the rights of ownership in tangible assets such as buildings and other structures. According to Bentham, another jurist, the term "property" implies just the ownership of material items. In other ways, he has interpreted the phrase in a limited manner. Property, according to Austin, refers to the broadest right of enjoyment recognized by the law, which includes servitudes. Both proprietaries and a man's rights are included in the Property.
TYPES OF PROPERTY LAW :
Types of property law may involve many different topics, including-
Transfers of property and types of ownership- Property owners must understand how they can own their property and what they must do to transfer it legally through sale or gifting. A person may, for example, have sole ownership of a piece of property or a joint tenancy with others. They may or may not have the right to transfer their part of ownership to someone else at any time or their death if they have a joint tenancy.
What is a deed? - A deed is a legal document that establishes who owns real estate. A person's legal interest is heavily influenced by the sort of deed they have. A warranty deed, for example, ensures that the buyer has a free and clear title to the property. A quitclaim deed, on the other hand, just signs over a person's right to the property. Each jurisdiction has its own set of regulations for drafting and recording an effective deed.
Eminent Domain- The government may occasionally desire to seize private property for public purposes. Eminent domain refers to the government's ability to confiscate private property from its owner. Even if someone protests, the government has the right to confiscate the property, but they must compensate the person properly. Eminent domain is subject to constraints and is frequently challenged in court. When it comes to eminent domain, property attorneys represent both government entities and individual landowners on behalf of their clients.
What is an easement? - An easement is a legal document that allows someone to use someone else's property. An easement or a right of access is the legal right to use someone else's land. If a person has no other way to get to their property except by crossing another person's land, they most certainly have an easement over it. How a person can use an easement is frequently a source of contention and litigation.
Zoning laws- A government can impose restrictions on what a person can do with his or her property. Zoning regulations are rules that limit how real estate can be used. A government, for example, can limit a property's use to residential, commercial, or industrial purposes. Property buyers in each region must be aware of and adhere to zoning laws. Zoning regulations can be broad, such as limiting a property's use to residential, or they can be quite detailed, such as establishing a certain amount of setback from the road.
Wild Animals and Natural Resources- Wild creatures and natural resources may be found on a piece of real estate. These resources may be present on the site all of the time or only on occasion. When and how a property owner may use natural resources on their property is governed by property laws. Oil and gas rules can also be relevant since they govern how a person must treat wild animals and natural resources that come into contact with their property.
Adverse possession- In some cases, the law allows persons to claim ownership of something without having to pay for it. Adverse possession is the legal term for claiming property by right. A person must occupy a property for a period to acquire it through adverse occupation. They must usually live on the property for a decade or more, not in hiding, with a claim of ownership. When adjoining property owners adopt erroneous boundary borders for a period, adverse possession might occur. Adverse possession is used to resolve land disputes and ensure that land is utilised.
Personal property – gifts, lost property, and abandoned property- The law governing real estate is usually determined by the state. In certain states, for example, an engagement ring is considered a gift. The individual who receives the engagement ring keeps it if the marriage does not take place. An engagement ring is a conditional gift in several places. If the marriage does not take place, the individual who receives the ring must return it. Each state has its own set of rules for dealing with lost and abandoned property.
Some Emerging Issues in Property Law:
Property laws are always evolving. As drones grow increasingly common, the law will have to figure out when a drone can photograph someone else's property and when it can enter the airspace over someone else's property. Furthermore, the Internet has made renting a home easier than ever before. Short-term rentals are becoming more popular, but they are also becoming more divisive. Property-related and personal-property-related challenges continue to arise, and regulations alter. New property laws can be created, developed, and challenged by property lawyers.
Who Practices property law?
Property law is generally a state law, however, there may be constitutional disputes or concerns with federal government ownership. Property lawyers are found all over the United States. They usually practice transactional law, but they must be prepared for litigation if their case goes to court. Property attorneys operate in both big cities and tiny areas. They could be city attorneys or private attorneys representing individual property owners.