Also known as: realty · real estate · real property
Written by attorneys · grounded in primary & secondary sources — see below
An adjective qualifying property or rights that are fixed and immovable, such as land and structures attached to it, as opposed to personal or movable assets.
Rowan Russell contracted to sell land to Reliance Insurance. Before closing, an unreleased judgment lien from a prior owner appeared in the title search. Reliance refused to proceed because the defect prevented marketable title, and Rowan could not remove the lien by the closing date.
Ricardo Rojas applied for a mortgage from Riverstone Manufacturing to purchase a home. The lender denied the application after learning of Rojas's national origin. The denial involved a transaction secured by residential real estate and triggered liability under fair housing rules.
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Rajesh Rao created a trust holding both a house and corporate stock for his children. The trust instrument defined property broadly to encompass anything subject to ownership, whether real or personal, so the house passed under the trust terms along with the stock.
Renata Russo and Roland Rhodes discussed a land sale over lunch. Neither expressed any intention that their discussion create legal obligations. Their agreement nonetheless formed a contract because the absence of real intent to be bound does not prevent formation absent a manifestation that the promise shall not affect legal relations.
Ralph Richardson bought land subject to a restriction requiring maintenance of a shared driveway. The restriction qualified as a real covenant that ran with the land, binding Richardson even though the original parties used older terminology now encompassed by the broader servitude category.
Rocky Mountain Mining's estate included undeveloped land. The personal representative took possession of the real property after determining it was needed for administration, even though an heir had been living on the parcel, because the representative's request for delivery established the necessity.
Unreleased liens, breaks in the chain of title, outstanding easements or covenants, and pending litigation that clouds title each render title unmarketable. The buyer may rescind or refuse to close if the seller cannot cure the defect.
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Yes. The statute prohibits discrimination in the making or purchasing of loans or other financial assistance secured by residential real estate on the basis of race, color, religion, national origin, sex, handicap, or familial status.
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Property includes anything that may be the subject of ownership, whether real or personal, legal or equitable, or any interest in such property.
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Under the merger doctrine, contractual promises relating to title or conveyance merge into the deed and are discharged upon acceptance unless they qualify as collateral obligations or an exception such as fraud applies.
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…several possibilities may not take place and all may not combine. In the Does' estimation, these possibilities might have some real or imagined impact upon their marital happiness. But we are not prepared to say that the bare allegation of so indirect an injury is sufficient to present an actual case or controversy.…