Thursday, February 16, 2017

Easements in General : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Easements are a non-possessory interest in land.  They allow someone not in possession of the land the have the right to use the land for some purpose.  In other words, easements allow you to use the land possessed by someone else. 

For example, if the owner of X Acre allows the owner of Y Acre to use a path on his property to access another piece of land, this is known as an easement.  There are two types of easements.  The affirmative easement and the negative easement.  Very similar to how they sound, the affirmative easement gives the right to do something on the land or property and the negative easement restricts the land owners from doing something on the property. In other words a negative easement compel a servient tenement to refrain from in engaging in a activity on the property. 

The land that is burdened by the easement (the land that must allow an activity ie like a driveway) is called the servient tenement.  Let me explain further.... 


Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Privity of Estate & Privity of Contract : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Privity of estate is a "mutual or successive relation to the same right in property" such as the relationship between a landlord and tenant. Thus, privity of estate refers to the legal relationship that two parties bear when their estates constitute one estate in law.

The doctrine of privity in the common law of contract provides that a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it. The premise is that only parties to contracts should be able to sue to enforce their rights or claim damages as such.

Let me explain...


Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Assignments & Subleases : Land Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

Absent an express writing in a lease agreement, a tenant has the right to transfer their interest in the property.  If a tenant transfers their entire interest in the lease - this is called an assignment.  If the tenant transfers only a partial interest in their lease - this is called a sublease.

For example: If a tenant leasing 1000 square feet allows another to rent from him 500 square feet, this is commonly known as a sublease.  Now if the tenant has 9 months left on the lease and gives another person the right to the entire 1000 square feet for the remaining 9 months, this is known as an assignment of the lease.  Let me explain further...


Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Tenancy at Sufferance : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A tenancy at sufferance occurs when a tenant overstays their lease agreement in wrongful possession of the property.  Let me explain....


Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com

Tenancy At Will : Real Estate Investing 101

Okay, the secret is out.  I am currently studying for my bar exam.  In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor.  I figured since I was studying anyways, I might as well put each topic one video at a time.  I also started a YouTube channel which can be seen here.

A tenancy at will is a tenancy where either party has the right to terminate the leasehold agreement.  The creation of a tenancy at will must be expressly created so that both parties have a firm understanding that their lease can be terminated by either party at any time.  If only the landlord has the right to terminate, most courts will read into the lease the right for the tenant to terminate.  If only the tenant has the right to terminate most courts will read the conveyance as a life estate or periodic tenancy.  To be clear, a tenancy at will must expressly state that BOTH parties have the right to terminate the lease at any time throughout the lease.  

To terminate a tenancy at will either party may give notice that the agreement (tenancy at will) has been terminated.  A tenancy at will can also be terminated by operation of law if (1) one party dies (2) one party commits waste (3) the tenant tries to assign their interest (4) landlord transfers their interest in the property or (5) landlord executes a periodic or written agreement/lease.

Let me explain further....


Follow me on Twitter @NicholasCoriano or follow @homeskape for real estate tips, architecture, tiny homes and land investing advice and feel free to email at Homeskape@gmail.com