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Points to be remembered by the Seller of the Property:

Property is something that a person or business has legal title over. Property could be either tangible or intangible, and having authorized title to it grants the owner certain enforceable rights. Typical examples of a tangible property include actual estate, also referred to as actual property, autos, furnishings, and equipment. In common law, actual property (immovable property) is the mixture of pursuits in land and enhancements thereto, and private property is interest in movable property. Real property rights are rights relating to the land.

Taking of property in a means that excludes the proprietor from it, or lively alteration of the ownership of property. Condition whereby whereas encumbered possession of property is achieved or retained, encumbered ownership of it’s contingent upon efficiency of obligation to somebody indebted to, and possession and unencumbered ownership of it is contingent upon completion of obligation.

For example, Company XYZ’s manufacturing facility, the five-acre lot on which the factory sits and whatever oil, gas or mineral rights that are connected to the land are real property. Company XYZ’s fleet of delivery trucks aren’t real property because they are often moved. The new electrical system Company XYZ installed within the factory is a part of the true property, however, as a result of it … Read More