Thursday, February 16, 2017

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...

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