Also known as: real estates · real property · realty
Written by attorneys · grounded in primary & secondary sources — see below
Land together with all improvements and attachments permanently affixed to it, including buildings, fixtures, and growing things.
Renata Russo contracted to sell her parcel to Regina Robinson. At closing Robinson discovered an unreleased judgment lien from a prior owner still recorded against the property. Robinson refused to proceed because the defect prevented delivery of marketable title.
Riley Rivera applied for a home loan secured by residential real estate. The lender denied the application after learning of Rivera's national origin. Rivera sued under the Fair Housing Act alleging discriminatory treatment in a residential real estate-related transaction.
Rosa Ruiz purchased a commercial building and installed a new central heating system bolted to the structure and connected to the building's ductwork. When Ruiz later granted a security interest in the building, the secured party claimed the heating system as a fixture under real property law.
Select any source to read its text and confirm it supports the definition.
Rhea Reynolds died owning several parcels of real estate. The appointed personal representative determined that one parcel was needed to pay estate debts and therefore took possession from the presumptive heir who had been occupying it.
Raymond Ramos listed his warehouse with a broker under an agreement promising a commission upon production of a buyer ready, willing, and able to purchase on Ramos's terms. The broker located such a buyer and Ramos later refused to close. The broker sued for the commission.
Raven Logistics sold a warehouse to Redline Automotive. The contract contained a merger clause stating the deed would supersede all prior promises. After closing Redline discovered an oral promise about parking rights not included in the deed and sued. The court held the claim merged into the deed.
Unreleased liens, breaks in the chain of title, outstanding easements or covenants, and pending litigation that clouds title each prevent a reasonably prudent purchaser from accepting the title.
Goods become fixtures when they are so related to particular real property that an interest in them arises under real property law.
Yes, under many listing agreements the broker earns the commission upon producing such a buyer, and the seller may not in bad faith refuse to complete the transaction and then deny the commission.
A merger clause states that the written contract is the complete agreement. After closing the contract merges into the deed, limiting the buyer's ability to enforce prior oral or written promises not reflected in the deed.
…enhances the economic position of the landmark owner in one significant respect. Under New York City’s zoning laws, owners of real property who have not developed their property to the full extent permitted by the applicable zoning laws are allowed to transfer development rights to contiguous parcels on the same city block. See…