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USA Chapter: The International Comparative Legal Guide to Real Estate 2010
Timothy E. Powers
Real estate is governed primarily by the state laws of each of the fifty United States. A combination of state statutory and common law governs such areas as future estates, concurrent ownership, landlord and tenant rights, servitudes, transfer of interests, and title insurance. With some exceptions, private property rights are protected against adverse action by governmental entities and third parties. Most aspects of real estate transactions are left to the parties to negotiate, with regulatory intervention generally limited to matters of public policy, such as laws ensuring the habitability of residential buildings. Federal law applicable to real estate is primarily directed to sensitive resources and industries and to government lands.
This article appeared in the 2010 edition of The International Comparative Legal Guide to: Real Estate; published by Global Legal Group Ltd, London.
To read the full article, please click on the PDF linked below.