Real obligation

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. In practice, the mortgage secures usually a financial loan given by the lender to the property owner. A given right of way through your land benefits another, dominant land or their owner.

See also “private easement”

Real obligation / Legal Glossary

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