A seller can trade marketable securities in two ways. The first and best way is to show that the seller has good ownership of the property by creating the “chain of ownership” of the property. The chain of ownership of land is the series of deeds and transfer documents in the history of the property from the original “Aboriginal title” (how the first owner of the property came into possession) to the present day. This is surprisingly easy, as land transfer records are kept in each county`s county clerk`s office. The “title search” can often be done simply by visiting the county clerk`s office and looking for the chain of ownership tied to a particular property. Some counties are even working to put all of these databases online so that a title search can be done from the buyer`s home or office or the buyer`s lawyer. In his Second Treatise on Government, the English philosopher John Locke affirmed the right of an individual to possess a part of the world, whereas according to the Bible, God gave the world to all mankind together. [6] He affirmed that although human beings belong to God, they possess the fruits of their labor. When a person works, that work enters the object. Thus, the object becomes the property of that person. Locke, however, conditioned property on Locke`s condition, that is, “there is enough and equally good what remains common to others.” Negotiable Title: A title that is not subject to reasonable doubt as to its validity and will not be challenged in the future by third-party ownership claims or by reason of encumbrances on the property. Between the time a contract for the sale of real estate is signed and the moment when the deed is actually handed over to the buyer, the property is in a state of limbo. On the one hand, the buyer has the contractual right to receive the property.

On the other hand, the seller still has ownership and current enjoyment of the property. In fact, it is said that the ownership of property during this period is divided between just property and legal property. Very often, real estate is sold through a broker. The general procedure is something like this. The seller signs a contract with a broker that gives the broker the right to list the property and show it to potential buyers. When the property is sold, the broker receives a commission, which is usually a percentage of the purchase price, from the seller. Typically, the brokerage commission is about 6% of the purchase price, although the recent trend is downward, as computer technology and the Internet have made it much easier to market homes to a large number of potential buyers. A particularly difficult question is whether people have intellectual property rights developed by others from their body parts.

In the seminal case on the subject, the California Supreme Court ruled in Moore v. Regents of the University of California (1990) that individuals do not have such a right of ownership. Real estate is land, everything permanently associated with it and all property rights, including the right to own, sell, rent and enjoy the land. Real estate can be classified as residential, commercial, agricultural, industrial or special purpose depending on its general use. To understand if you have the right to sell your home, you need to know what rights you do or don`t have to the property. In general, “personal property” is property that is not related to land or real estate structure. Personal property is sometimes referred to as personal property or personal property. Property related to or fixed to real estate is called real estate or real estate.

Furniture that can be removed without damaging the building is sometimes included in personal belongings. 1) Deficiency in the chain of ownership: If the chain of ownership has no “link” in its history before the seller buys the property, the title is naturally not marketable. For example: There are two types of property: real estate and personal property. Real estate is land. It can also include things associated with the land, such as a house, commercial buildings, a garage or barn, and even trees. Real estate is the land and the things that come with the land. Personal property, on the other hand, is something you own or own that can be moved. A car is an example of personal property. An office chair, a computer, and anything other than land or building is personal property.

Most people own at least some personal property. The term “transfer of property” generally refers to an act by which a living person transfers property, now or in the future, to one or more other living persons or to himself and to one or more other living persons. To transfer ownership is to perform such an act. While there are times when the federal government has something to say about property rights, for most people, state law is the most important thing. Each state has its own system of ownership and transfer of real and personal property. When a real estate attorney advises clients, they need to know the law that applies to their condition and case. There can be significant differences in laws between states, so it`s important to know what state and local laws say about the issues in each individual case. 2) Charges: Certain private charges on the property may also make the seller`s title unsaleable.

For example, if third parties hold mortgages, liens or easements on the property, or if the property is subject to certain agreements, the seller`s title may not be negotiable. These burdens and the rules that govern them are discussed in the following chapters of this course. We will therefore suspend our discussion on their impact on marketable securities until we cover the costs ourselves. Note that restrictive zoning laws are not considered encumbrances and such zoning laws never make a seller`s title unsaleable. However, if the property is used in a way that violates zoning law, the seller`s title may become unsaleable. See Lohmeyer v. Bower, 170 Kan. 442 (1951).

U.S. Supreme Court Justice James Wilson examined the philosophical underpinnings of American property law in 1790 and 1791. It starts from two premises: “Every crime involves a violation: every violation implies a violation of a right.” (Conferences, III, ii.) The role of government in protecting property depends on a conception of law. Wilson believes that “man has a natural right to property, character, liberty and security.” [7] It also notes that “the primary and primary objective of the institution of government […] was. to acquire a new security right for the possession or recovery of those rights”. [8] The concept, idea or philosophy of ownership underpins all property rights. In some jurisdictions, historically, all property belonged to the monarch and passed through feudal land ownership or other feudal systems of loyalty and fidelity. An easement allows a person to use property that belongs to someone else. The right to use someone else`s property is called easement or right of access.

If a person has no other way to access their property than to move to someone else`s property, they probably have an easement on the property. How a person can use an easement can often be highly controversial and contentious. The legal definition of real estate or real estate is the land and buildings on it. Real estate law regulates who can own and use the land. The property is considered defective and therefore non-marketable if there is a substantial defect in the property. In essence, a defect is important if it can cause damage to the buyer in the future. This infringement could take the form of a third party taking possession of the good, or even force the buyer to defend himself against a claim by such a third party. There are two possible flaws that can make titles unsaleable: To understand real estate, it helps to start with land and real estate. The earth is defined as the surface of the earth that extends to the center of the earth and upwards to infinity, including everything that is permanently connected by nature, such as rocks, trees and water. The earth also includes minerals below the earth`s surface and the airspace above the earth. The second way for a seller to prove negotiable title is to prove that he acquired the property through opposing property.