Two kinds of property form part of a person’s estate, movable and immovable property. Within each of these two types of property, there are further classifications, each having its own rights attached to it, and responsibilities. These different forms of property are also protected in different ways.
Property Law relates to the rights a person has concerning their assets, their control, use, and disposition. It is the law as it relates to property. Property Law regulates relationships between people concerning their property. Even people who are not owners, but who only have possession of the property in question; have rights that they may exercise over the property, depending on the circumstances. In addition to the circumstances of each situation, the nature of the property is also what will make the approach needed unique.
Movable Property
Movable property encompasses property that is not fixed or stationary. Examples of movable property include your laptop, your cell phone, your car, your dinner set, and other items that one would normally classify as property on a day-to-day basis.
In the ordinary course of the day, movable property is bought and sold with no hassle, but there are instances where a more thorough contract is needed for the transaction to go through safely and successfully, protecting all parties involved. One may perhaps be interested in leasing a car, and for that there is a more intricate contract that is involved, describing all the obligations in full, and binding them to the deal.
Immovable Property
Immovable property is very much that, the stationary property that cannot be moved, it is fixed, such as land and buildings.
Contracts relating to immovable property can also take many forms and as such we are governed by a variety of laws that regulate its control, use, disposition, and enjoyment.
The most well-known of which is the sale of immovable property, which involves a Conveyancing transaction taking place.
For this transaction to be processed successfully, many strict formalities need to be complied with. Each step in the process must be followed meticulously, including the drafting of the documents, as the smooth running of the process is all vital for the Conveyancing transaction to finally be approved at the Deeds Office. For this, Conveyancing Attorneys, such as those at Simpson Incorporated, are not only needed but are necessary for the transaction.
The law that relates to the disposition and dealings with property is intricate and depends on how you are handling your property, and how you wish to protect it or enforce your rights to it. And because this is so, the contracts used to govern each will differ, making it all the more important to contact an experienced attorney for advice and the drafting of these specific contracts.
Simpson Incorporated, with its years of experience and in-depth knowledge, is here to assist with your Property Law and/or Conveyancing transactions. Contact their offices for advice on how to proceed in your particular circumstances.
