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The Best Kept Secrets About Realtor.Com

  • The land surrounding Lewes Beach is leased, not owned by the home owners. The land of Lewes Beach owns the town of Lewes. The Rehoboth Beach lands the Sea as well as Dewey Beach include leased land as well. The majority of leases on the land will not be renewed , but the land will be returned to the property owners and the homes on top of that land will be removed by the property owners at their expense. The majority of the land in Riverdale located along Indian River Bay, adjacent to Oak Orchard is leased as well. In Riverdale the land that is leased is owned by the Chief Clark and the Nanticoke Indians.

    About half the residents of Sussex County living on leased property; the majority of that leased land is found in what is known as mobile home parks , also known as communities. In those communities, there aren't many houses which are truly mobile. In fact, there are two-story stick-built homes located on a few properties that are leased to these communities. Condominiums and town houses are frequently found on lease land as well. Many find this complicated to comprehend.

    The term fee simple is used by Realtors and Attorneys use the term fee simple for the land being classified as real property that is , real estate. We utilized the term leased land or leasehold interest to describe the land that isn't transferred into real estate.

    This text is regarding Leased Land, Real Estate, Private Property, Chattels, Mobile Homes, Homes on Leased Land and a legal dissertation to define and define the distinctions.

    Terminology is essential when discussing Real Estate, i.e. real property.

    The Black's Law Dictionary is the recognized reliable source for legal definitions and legal terms under our American Law; which is an ancestor of English Law

    PROPERTY The legal sense, it is a group of rights that are safeguarded and guaranteed by government. BL6, p. 1216.

    Perpetual Property: Personal property; chattels; movable property; property that isn't associated with real estate. BL6, p. 1144

    Properties: (personal property) - In a broad sense, anything that is the subject of ownership but not falling within the category of real estate. A right or interest that is less than a freehold in real estate or any other property or right one has in things movable. BL6, p. 1217

    This means that personal property is that which can be easily removed from the real estate, and is in no way real estate. Personal property can include crops including trees, plants, trailers, sheds, cars, mobile homes, manufactured homes that have a Department of Motor Vehicle title in place of a Deed along with the interior of the house or construction. If you own a house or a business personal property, it includes lighting fixtures, drapes as well as carpets (not carpeting that has been installed) cabinets that can be freestanding, furniture, and all the contents of closets, drawers and other buildings. The structures that do not have a foundation, that is , sheds only supported by blocks are chattel properties, which is personal propertythat is are not considered part of the actual estate. This includes dog-houses and especially the small storage structures that are prevalent outside of houses in the present.

    Lands In the broadest sense, it encompasses all soil, ground, or of any kind..."Black's Law" dictionary 6th Edition. (BL6), p.877

    Private property: Protected from being taken by other purposes, it is property as belongs absolutely to an individualand for that he has the sole right to dispose. Property that is of a distinct that is tangible and fixed which is capable of being in the possession of and transferred to anotherperson, for instance, houses chattels, lands, and houses. BL6, p. 1217. Private property is houses, land and chattels. Private property is protected from being used by the public for any purpose. Private property is owned absolutely.

    Real Estate is synonymous with real property" and p.1218 REAL PROPERTY ... A general term for lands, tenements, hereditaments (those things which are hereditary); which on the death of the owner intestate, passes to his heir." BL6, p1263

    ESTATE: The amount in terms of quantity, value, nature and level of interest that an individual has in real and personal property. An estate in lands, tenements, and hereditaments signifies such interest as the tenant has therein. The BL6 definition is p.547 Here, the definitions all pertain to real estate = real property = estate = lands sheriffaments, tenements, and lands. In the beginning, one could think that "real property" is the appropriate term for 'all lands'. However, it doesn't define the form of ownership as clearly as the definition of estate. We just had a huge instance of this , when thousands of lease land lots that were in the homes of a few thousand of residents situated in Angola, Pots Nets, and Long Neck areas owned by the Robert Tunnel family was inherited by their children of the family.

    IN OUR AREA THERE ARE NUMEROUS LEASED LAND PROPERTIES AND THOSE PROPERTIES ARE THE REAL ESTATE OF THE OWNER OF THE LAND - NOT THE OWNER OF THE HOME WHICH IS UPON THAT LAND. If you review the definition for ESTATE it is a reference to an interest in the same types of articles defined in real property and real estate.

    What exactly is this land and WHO owns it , and how is it managed? Land may constitute private property OR estate, i.e. real estate. Estate is a stake in "real property" by a person or tenant. Private real estate is owned and controlled by an individual.

    INTEREST: More particularly it means a right to have the benefit of accruing from something or any right that is the nature of property but less than title. - BL6, p.812. It is evident that INTEREST is not a title as it is not more than title. It could be a property rights to land however it's not a right to absolute ownership of the land. Residents who live on leased land do not have a claim to land; and the interest is a leasehold interest. Is there a definition of the word "property" that defines it as real estate that is owned by the owner in absolute terms, as does the definition of private property? We can delve into this further.

    ABSOLUTE TITLE - As applied to title to land. An exclusive title, or at least a title that excludes all other titles not in accordance with. An absolute title to land cannot be held at the same time in different people or under different governments. BL6, p.1485

    PRIVATE PROPERTY - ... It is a property that is owned by an individualand for which he has the exclusive right of disposal. BL6, p.1217

    OWN - To have a legitimate legal title to have property as a possession and have an appropriate or legal title to; to have; to possess. BL6, p. 1105. "Own" or "own" is to have title. An interest is LESS than a title.

    Estate: The amount, quantity, nature and degree of interest that someone has in personal and real property. A property that is an estate of lands in tenements, hereditaments, or other land signifies such interest as the tenant holds therein. -- BL6, p.547 Based on these definitions, it's plain that we cannot truly "own" real estate. We only have legally qualified ownership that is qualified and defined property Real Estate. This is why we require the Deed Description to define it as well as to establish it. Ownership is also defined through various government rights, law and decrees from time immemorial, such as rights against infringing. The ownership is governed by taxation, zoningand rights of way, and a variety of other related entailments. Therefore, we need an enumeration of the title to establish those entailments, some among which are inaccessible.

    Therefore , there isn't nearly so much of a difference between the rights and privileges of ownership and interest , as many are told. There is nothing wrong with those who reside in rented land, instead of owning the land. In most cases, they pay less than what it costs to buy the same property. However, they seldom see any appreciation on the property; the landlord receives the appreciation in real worth and the owner can enjoy their lifestyle for a lesser than the cost of a month or an entire year.

    However, because an interest in leased land isn't automatically transferable , it is not Real Estate and since the chattel property that is situated on it, this mobile house is personal property, without a deed however, it does have a title Realtors aren't legally required to participate in the sale of these real estate - however, we are. We are supposed to only be selling real estate. It's all cloudy and foggy doesn't it. It's the reason that there are people and businesses that sell mobile homes on land leased to them that aren't Realtors and don't need to be. Even though nobody is discussing it, Realtors are not legally required to sell mobile home on land that is leased. We are not required to participate with the issue any more as I did writing about it.

    Ownership: The whole dominion, title, or proprietary, which includes right to claim or a thing... The ownership of property is unconditional or certified. The ownership of property is absolute when only one individual has the right to it and has the ability to use and dispose of it according to his discretion, subject to the laws of generality. The ownership qualifies to be shared by one or more persons, in the event that the time for enjoyment is delayed or limited or when the use is restricted. - BL6, p. 1106 Such sharing is common among husbands and wife, partners, families and corporations, among others.

    DOMINION - Generally accepted definition for "dominion" is perfect control on the right to ownership. The word is a reference to title and possession , and is believed

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