Real refers to something that is authentic or truthful. It can also pertain to immovable objects such as buildings or land. In legal contexts, it signifies something that is physically connected to an item rather than a person. When we describe money or income as real, we are indicating that its value is based on its purchasing power rather than its nominal amount.
The term “real” is versatile and can have various meanings. It can refer to things that are fixed or immovable, such as land and buildings, as in the case of “real property.” It can also pertain to a thing, whether it can be moved or not, rather than a person, as in the case of “real right.” Additionally, “real” can mean actual, genuine, or true, as in the case of “real authority.” It can also be used to describe values that have been adjusted for inflation, as in the case of “real wages.” These examples demonstrate how “real” can be used in different contexts to convey different meanings. Legal terms like “real property” and “real right” refer to specific types of property rights, while more general terms like “real authority” and “real wages” describe actual or adjusted values.
Yes, providing false information in a real estate transaction can lead to legal consequences, such as being sued for fraud or misrepresentation.
A lease is a binding contract that typically lasts for a fixed term, while a rental agreement is a more flexible arrangement that can be month-to-month.
In most jurisdictions, landlords must have a valid reason, such as non-payment of rent or violation of lease terms, to evict a tenant. However, specific laws may vary.
A valid real estate contract typically requires an offer, acceptance, consideration (usually money), legal capacity, and a lawful purpose.
Yes, if you are part of an HOA, they can enforce rules and regulations that are outlined in the governing documents, such as bylaws or covenants.
Sellers have a legal obligation to disclose any known defects or issues with the property, provide accurate information, and adhere to the terms of the contract.
Yes, if a real estate agent fails to fulfill their duties, such as providing accurate information or acting in your best interest, you may have grounds to sue for negligence.
The process typically involves drafting a deed, signing it in the presence of a notary public, and recording it with the appropriate government office, such as the county recorder’s office.
It depends on the terms of the contract. Some contracts may have provisions for cancellation, while others may require legal justification or negotiation with the other party.
Tenants have the right to a habitable living environment, which includes necessary repairs and maintenance. Landlords are generally responsible for addressing these issues in a timely manner.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 16th April 2024.
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