There are many types of laws to govern the society and business. Out of those laws one law which is recently gaining prominence is the property law. The law governs areas like ownership or tenancy in personal property and real property. Real property is a property which distinct from movable or personal possessions. In simple words it is the property which cannot be transferred to another place. For example a house cannot be taken to another place. Personal possessions are the things which are movable. An example of it can be cars or jewelry. There were many laws in the history regarding the ownership of property. Previously it was considered that all the property belongs to the king or a monarch. Now the laws have changed and property owners can be individuals, a government organization or a private company.
Property Law is There to Govern Tangible and Intangible Property
Property law has seen many changes in its structures and concepts in previous centuries. The law is still being modified in many countries. The earlier property laws were divided into two movable and immovable property laws. This is because the characteristics of the two differ hugely from one another. The real property can be divided broadly into two subcategories. They are corporeal hereditaments and incorporeal hereditaments. Corporal hereditaments are the real properties which are tangible. An example of this is a factory building. Incorporeal hereditaments are the real properties which are intangible. An example of this is example some easement of way.
The concept was developed to civil disorder. The main principle of it is simple. A person in the possession of some goods or land is entitled for taking action against a person who is interfering with that possession. Even if the person who has the possession is a wrongdoer the law applies. The only condition where interference is permitted is when the interferer has a superior right for doing it. For example law enforcement cannot search a suspect’s house as it is their personal property. They need search warrant to search the house. The warrant has order from a judge or government official representing the state nation. State or Nation is considered the superior authority here.
The property law also works through consensual transaction of property to the new owner from the previous owner. For example a sale or a gift is considered consensual transaction. This is because it is expected that the previous owner has given the property willingly for free or by taking money from the new owner. Also disposition by a will can also be regarded as a consensual transaction. Since it will give the benefits to persons nominated by the deceased. If there the owner of the property establishes a trust for the benefit of a person, then it is also considered consensual transaction.
The property can change ownership independently as well. This will happen when the property is this happens when a person goes bankrupt, dies intestate or there is a court order to take the property from the owner.
It can be said that if you have any property related issue then you should contact a reputed law firm or an experienced lawyer to get justice. They will use their valuable insights and effective knowledge of law to make sure you will the case and get benefits.