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Bargain And Sale Deed
In United States real property law, a bargain and sale deed is a deed " conveying real property without covenants". This is a deed "for which the grantor implies to have or have had an interest in the property but offers no warranties of title to the grantee." Because it lacks any warranty, it is the least attractive kind of deed. Under common law, this type of deed technically created a use in the buyer who then gets the title. Under the statute of uses, modern real property law disregards this subtle distinction. A bargain and sale deed is especially used by local governments, fiduciaries such as executors, and in foreclosure sales by sheriffs and referees. The fact that it comes without any warranties from the government means that the new owner may not have a good title. If in fact, the city did not have a good title or the city could not convey a good title, then the new landowner is unlikely to be successful in obtaining a refund of the purchase price. Some states req ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property Law
Property law is the area of law that governs the various forms of ownership in real property (land) and personal property. Property refers to legally protected claims to resources, such as land and personal property, including intellectual property. Property can be exchanged through contract law, and if property is violated, one could sue under tort law to protect it. The concept, idea or philosophy of property underlies all property law. In some jurisdictions, historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal systems of loyalty and fealty. Theory The word ''property'', in everyday usage, refers to an object (or objects) owned by a person—a car, a book, or a cellphone—and the relationship the person has to it. In law, the concept acquires a more nuanced rendering. Factors to consider include the nature of the object, the relationship between the person and the object, the relationship between a number of people in r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quitclaim Deed
Generally, a quitclaim is a formal renunciation of a legal claim against some other person, or of a right to land. A person who quitclaims renounces or relinquishes a claim to some legal right, or transfers a legal interest in land. Originally a common-law concept dating back to Medieval England, the expression is in modern times mostly restricted to North American law, where it often refers specifically to a transfer of ownership or some other interest in real property. Commonly, quitclaims are used in situations where a ''grantor'' transfers any interest they have in property to a recipient (the ''grantee'') but without offering any guarantee as to the extent of that interest. There may even be no guarantee that the grantor owns the property or has any legal interest in it whatsoever. Specific situations where a precise definition of the grantor's interest (if any) may be unnecessary include property transferred as a gift, to a family member, or into a business entity. Another ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Referee
A referee is an official, in a variety of sports and competition, responsible for enforcing the rules of the sport, including sportsmanship decisions such as ejection. The official tasked with this job may be known by a variety of other titles depending on the sport, including '' umpire'', ''judge'', '' arbiter'', '' commissaire'', or ''technical official'' (by the International Olympic Committee). Referees may be assisted by '' linesmen'', '' timekeepers'', '' touch judges'', or '' video assistant referees'' (VAR). Football (association) Originally team captains would consult each other in order to resolve any dispute on the pitch. Eventually this role was delegated to an ''umpire''. Each team would bring their own partisan umpire allowing the team captains to concentrate on the game. Later, the referee, a third "neutral" official was added; this ''referee'' would be "referred to" if the umpires could not resolve a dispute. The referee did not take his place on the pi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Sheriff
A sheriff is a government official, with varying duties, existing in some countries with historical ties to England where the office originated. There is an analogous, although independently developed, office in Iceland, the , which is commonly translated to English as ''sheriff''. Description In British English, the political or legal office of a sheriff, term of office of a sheriff, or jurisdiction of a sheriff, is called a shrievalty in England and Wales, and a sheriffdom in Scotland. In modern times, the specific combination of legal, political and ceremonial duties of a sheriff varies greatly from country to country. * In England, Northern Ireland, or Wales, a sheriff (or high sheriff) is a ceremonial county or city official. * In Scotland, sheriffs are judges. * In the Republic of Ireland, in some counties and in the cities of Dublin and Cork, sheriffs are legal officials similar to bailiffs. * In the United States The United States of America (USA), ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Foreclosure Sale
Foreclosure is a legal process in which a lender attempts to recover the balance of a loan from a borrower who has stopped making payments to the lender by forcing the sale of the asset used as the collateral for the loan. Formally, a mortgage lender (mortgagee), or other lienholder, obtains a termination of a mortgage borrower (mortgagor)'s equitable right of redemption, either by court order or by operation of law (after following a specific statutory procedure). Usually, a lender obtains a security interest from a borrower who mortgages or pledges an asset like a house to secure the loan. If the borrower defaults and the lender tries to repossess the property, courts of equity can grant the borrower the equitable right of redemption if the borrower repays the debt. While this equitable right exists, it is a cloud on title and the lender cannot be sure that they can repossess the property. Therefore, through the process of foreclosure, the lender seeks to immediately ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Executor
An executor is someone who is responsible for executing, or following through on, an assigned task or duty. The feminine form, executrix, is sometimes used. Executor of will An executor is a legal term referring to a person named by the maker of a will or nominated by the testator to carry out the instructions of the will. Typically, the executor is the person responsible for offering the will for probate, although it is not required that they fulfill this. The executor's duties also include handing over property to the beneficiaries as designated in the will, obtaining information of potential heirs, collecting and arranging for payment of debts of the estate and approving or disapproving creditors' claims. An executor makes sure estate taxes are calculated, necessary forms are filed, and the corresponding payments are made. They also assist the attorney with the estate. Additionally, the executor acts as a legal conveyor who designates where the donations will be sent using ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiduciary
A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (legal person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person. One party, for example, a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to another party, who, for example, has entrusted funds to the fiduciary for safekeeping or investment. Likewise, financial advisers, financial planners, and asset managers, including managers of pension plans, endowments, and other tax-exempt assets, are considered fiduciaries under applicable statutes and laws. In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice, or protection is sought in some matter... In such a relation, good conscience requires the fiduciary to act at all times for the sole benefit and interest of the on ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Statute Of Uses
The Statute of Uses ( 27 Hen. 8. c. 10) was an act of the Parliament of England enacted in 1536 that restricted the application of uses in English property law. The statute ended the practice of creating uses in real property by changing the purely equitable title of beneficiaries of a use into absolute ownership with the right of seisin (possession). The statute was conceived by Henry VIII of England as a way to rectify his financial problems by simplifying the law of uses, which moved land outside the royal tax revenue (i.e., through royal fees called feudal incidents), traditionally imposed through seisin. At the time, land could not be passed by a will, and when it devolved to the heir upon death was subject to taxes. Hence, the practice evolved of landowners creating a use of the land to enable it to pass to someone other than their legal heir upon their death, or simply to try and reduce the incidence of taxation. The King's initial attempt in 1529, which would have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Real Property
In English common law, real property, real estate, immovable property or, solely in the US and Canada, realty, refers to parcels of land and any associated structures which are the property of a person. For a structure (also called an Land improvement, improvement or Fixture (property law), fixture) to be considered part of the real property, it must be integrated with or affixed to the land. This includes crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property, or personalty, was, and continues to be, all property that is not real property. In countries with personal ownership of real property, civil law (legal system), civil law protects the status of real property in real-estate markets, where estate agents work in the market of buying and selling real estate. Scottish civil law calls ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Buyer
Procurement is the process of locating and agreeing to terms and purchasing goods, services, or other works from an external source, often with the use of a tendering or competitive bidding process. The term may also refer to a contractual obligation to "procure", i.e. to "ensure" that something is done. When a government agency buys goods or services through this practice, it is referred to as '' government procurement'' or public procurement. Procurement as an organizational process is intended to ensure that the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risks such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and fluctuations in the prices of goods. Organ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Use (law)
Use, as a term in the property law of common law countries, amounts to a recognition of the duty of a person to whom property has been conveyed for certain purposes, to carry out those purposes. In this context "use" is equivalent to "benefit". Uses were equitable or beneficial interests in land. In early law a property owner could not dispose of his estate by Will and testament, will nor could religious houses acquire it. As a method of avoiding certain common law rules, the practice arose of making feoffments to the use of, or upon trust for, persons other than those to whom the seisin or legal possession was delivered, to which the equitable jurisdiction of the chancellor gave effect. The Statute of Uses was passed in 1536 in an attempt to remedy the abuses which it was said were occasioned by this evasion of the law. However, the Statute failed to accomplish its purpose. Development of the use Historian Alfred Lawson Brown, A. L. Brown summarises the use as a "where one or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
