When it comes to land ownership, the importance of legal rights extends further than just a home itself. While real estate is an important part of the equation, the rights related to how someone can or can’t use, occupy, and profit from the property are just as important.
If you have concerns regarding your surface and mineral property interests, I’ll help you understand your legal rights and limitations so you can act in your best interests. I’ll be by your side every step of the way, guiding you through title examination, acquisition, valuation, and negotiation of your assets. Let’s start by exploring what real property really means.
Real Estate vs Real Property
Real estate is a much more familiar term to most than real property, but they aren’t interchangeable. Real estate refers to a piece of land plus any additions to that land. This includes not just a home or other man-made structure, but also trees, water, minerals, outbuildings, sidewalks, fences, and any other natural or unnatural features located there.
Real property also includes rights of use and enjoyment of the land. Those rights often include ability to:
- Occupy the property (such as leased tenancy)
- Determine interests and uses for other people
- Determine how property is sold or given away
- Use property without outside interference
Types of Real Property
Ownership of real property may seem like a singular concept, but there are several different types. These include the following:
- Freehold Estate: A freehold estate is characterized by someone who owns real estate for an indefinite period. This only refers to immovable property. Freehold estates can refer to unrestricted ownership, allowing you to use land any way you’d like. It can also refer to conditional ownership, where land can only be used in specified circumstances.
- Nonfreehold Estate: Nonfreehold estate typically refers to land and rental agreements. This can include tenancy under lease agreements or tenancy where the tenant has an interest in the property.
- Concurrent Estates: In concurrent estates, property ownership is shared between several parties. There can be equal ownership or joint ownership, such as when an owner gets married and co-owns with their spouse.
Let Me Guide You through the Real Property Process
Whether you need a title lawyer, an attorney to help you sort out property rights, or a legal guide to help you understand the finer details of owning a property, I will be there to help you every step of the way.
Reach out to me at firstname.lastname@example.org or (405) 514-5002 for your consultation today.