Property law entails laws that govern ownership, change of ownership whether temporal or permanent and use and limitations in property use. The law provides guidelines and mechanism for property ownership and property purchase , (Smith, 2009). Bailment is where personal property’s custody, care and control are shifted from one person to another through an agreement called contract of bailment. The agreement is that only authority over the property is shifted and not ownership. The actual owner is called the bailor and the person getting authority over the property a baillee, (Smith, 2009).
Depending on the contract agreement the baillee may shoulder any liabilities that may arise while the property is in his custody. At times the baillee is paid for custody of the property. The bailment contract should clearly show the type of bailment. Bailment is of different categories based on liabilities and rights of the parties involved. The three categories include bailment for mutual benefit, bailment for the baillee benefit and lastly bailment for the bailors benefit, (Smith, 2009).
Bailment is an everyday occurrence. For instances living the automobiles under custodian of the mechanic, living clothes with the laundry person, taking valuables for warehouse storage, loaning a vehicle to person, bonds left with a financier. At all this instances the receipt should include details of the bailment and the degree of bailment. For instance when loaning a vehicle to a person you should include whether the person is liable for any damage that may occurs while in possession of the vehicle.
Eminent domain is where by the government takes an individual land for state use or to give it to a private owner whose intentions are for the public but without any compensation for the land, (Smith, 2009). I think as much as the land is being seized for public use or state use leaving the land owners without any compensation can never be justified by the state intentions. This is because could be that land owners had toiled day and night just for them to purchase the lands only for the government to come and take the land without compensation, (Lewis, 2007).
It is also unfortunate because the same government is the one that should assure citizens of security and protect the citizens interest and especially because it is the same government that provided the citizens with certificate of ownership for the lands. Eminent domain usually leave no complains launching channels for the citizen and they have to resign to what the government does and this by all means is unfair, (Lewis, 2007). Many are the times when eminent domain is unfair but at times the interest of the government supersedes the interest of landowners.
Such instances are like when the land is being seized for conservation of the environment, (Lewis, 2007). Accession is where the value of a property is appreciated by adding labor or new attributes to the property. For example building on an empty land or planting trees on the land just before putting it up for sale, (Rapalje & Lawrence, 1997). An estate is the total worth of an individual legal rights, assets, interests, and property entitlements minus all his liabilities at that particular time, (Rapalje & Lawrence, 1997).
Adverse possession is procedure by which premises ownership can change. The title to real property can be acquired without compensation, (Rapalje & Lawrence, 1997). Fee simple this is absolute ownership of land which one can sell or pass on to another by will or inheritance. The land is free of any other claims against the title, (Rapalje & Lawrence, 1997). An easement is the limitation of property rights for a third party. It restricts the third party to claim full ownership of the land and limits what he can do on the land, (Rapalje & Lawrence, 1997).
Nuisance refers to violation of the comfort or interferences with land use and enjoyment. For example blasting and vibration that could cause dismantling of the land structures, (Rapalje & Lawrence, 1997). Record systems are the mechanisms employed to record proof of ownership for lands in the designated offices show as to show the status of the property, (Rapalje & Lawrence, 1997). The law is very clear on the dos and don’ts in property purchase and even ownership.
It is therefore advisable for anyone to follow what the law stipulates in accordance to what he is doing with the property.
References Lewis, J. P. (2007). Land use controls and property rights: A guide for real estate professionals. Loveland, Colo: Land Use Publications. Rapalje, S. , & Lawrence, R. L. (1997). A dictionary of American and English law, New Jersey: Lawbook Exchange. Smith, R. J. (2009). Property law. Harlow, England: Pearson Longman.