Real property – also known as the abbreviation “realty”, this legal term details an immovable property. For example, a plot of land, constructed building, existing apartment or another premise, etc. The term participates in the legal phrase “real property easement”.…
Real obligation – the Law of Contracts defines it as an obligation, related somehow to immovable property. For example, this could be the mortgage. Another example is establishing an easement in somebody’s favor/benefit. Real obligations usually serve another, a major benefit.…
Real injury – in practice, this term applies in the area of Tort Law. It details these non-material damages, that affect the honor or dignity. For example, if somebody slaps you in a public place in front of your colleagues,…
Real estate transactions. Within the area of Property Law, the real estate transactions represent the transfer of Title (ownership) from one party to another. Title transfer includes usually all rights and obligations, existing at the particular moment and related to…
Real estate tax – this term applies in the area of Tax Law, where usually refers to the annual property taxes, charged by the local Authorities for owning particular real estate. Alternatively, it details the applicable taxes (stamp duty, council taxes…
Real estate right – this term details a legal right which is attached to immovable property, and not given towards a concrete person. Usually, the real estate rights, like the right to build and use, follow the property during Title…
Real estate promissory note – this legal term details a promise made by a borrower to pay back the taken mortgage loan. He is called the maker of the note. The lender who benefits from the note is called “payee”.…
Real estate professional – in the modern, developed countries this legal term refers to a real estate broker. A qualified agent with a diploma to work as an intermediary between real estate vendors and buyers. Who knows the applicable laws…
Real estate loan – this legal term finds usage within the area of Law of Contracts. It refers to any credit agreement, in which the released loan has been secured. A security could be an established mortgage on the real…
Real estate leasehold – usually this legal term applies in the sphere of Property Law. It has two different meanings: 1) It could relate to short lease occupancy of premises (apartment or a house) and not a land. The occupant has…