Real Estate: Know The Different Types of Property Law

Property comes in one of two forms: real or personal. The majority of legal concepts and rules regarding both types come from English common law, and modern law incorporates many of these principles into statutes. These statutes provide information on the types and rights of ownership regarding both types of property. However, a person needs to know where to turn for assistance if a dispute does arise.

The Definitions

Legal experts define personal or movable property as anything other than land which can be owned by a person or entity. This includes money, patents, notes, stocks, along with intangible property. In contrast, real property comes in the form of land and anything found on this land, including buildings and crops. When a person references real property or real estate they speak of the land itself along with anything of a permanent nature found on, over, or under the land. This includes minerals, gases, and oils. A real estate attorney becomes of great help in determining which category an item falls under if there is any confusion.

Personal Property

Personal property is either tangible or intangible. Tangible items can be held in a person's hand, while intangible items include items like patents, copyrights, and stocks. A document shows ownership of these items and can be held rather than holding the item itself. Property law defines possession as having power over something, and possessors are entitled to maintain peaceful possession of the item unless another party claims a superior right. In the event this is not the case, property law comes into play and the person may work to regain the item using a variety of means to do so.

Real Property

Real property, in contrast, covers the land and any improvements made to the land, such as permanent structures. When one thinks of land, they think of the earth and soil. However, under the legal definition of land, the water, and air space superjacent to the land is covered, and the same holds true of any natural deposits and products not severed from the land. This includes water, ores, minerals, and crops as long as they remain attached to the land. When these items are extracted, removed, or severed from the land, they no longer qualify as real property under the law.

Settling Property Disputes

Settling property disputes may require outside assistance. Individuals often believe they must go to law enforcement when the ownership of an item is in dispute. This step doesn't always need to be taken. The first thing a person should do when they dispute ownership is to speak to the person in possession of the item. This may be enough to get the issue resolved. When that is not the case, law enforcement can be contacted. If they are unable to help, don't hesitate to contact an attorney. The lawyer can be of help in determining the proper steps to take.

Speak to an attorney if you feel you have been unfairly relieved of your property. When you have spent your hard-earned money to acquire an item, whether it be real property or personal property, you should be able to enjoy it freely without reservation. An attorney works to help you resolve the matter in the shortest time possible so you can begin enjoying the item once again.

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