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Title insurance. Title insurance is a form of indemnity insurance predominantly found in the United States and Canada which insures against financial loss from defects in title to real property and from the invalidity or unenforceability of mortgage loans. Unlike some land registration systems in countries outside the United States, US states ...
Property is a system of rights that gives people legal control of valuable things, [1] and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away, or destroy it, or to exclude ...
A servitude is a qualified beneficial interest severed or fragmented from the ownership of an inferior property ( servient estate) and attached to a superior property ( dominant estate) or to some person ( personal beneficiary) other than the owner. [1] At civil law, ownership ( dominium) (e.g. of land) is the only full real right whereas a ...
An executory contract is a contract that has not yet been fully performed or fully executed. [1] It is a contract in which both sides still have important performance remaining. However, an obligation to pay money, even if such obligation is material, does not usually make a contract executory. An obligation is material if a breach of contract ...
Housing in the United States comes in a variety of forms and tenures. The rate of homeownership in the United States, as measured by the fraction of units that are owner-occupied, was 64% as of 2017. [1] This rate is less than the rates in other large countries such as China (90%), Russia (89%) Mexico (80%), or Brazil (73%) (see List of ...
Ethical implications in contracts. When creating a contract, a negotiator is not only doing so to reach an agreement between two or more parties, but to create an agreement that is durable; whereby parties of the contract are legally bound and committed to its promises (Wade and Honeyman 2005, 7). A legally binding contract is defined as an ...
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