Learn: Curtesy Real Estate Definition + Rights

curtesy real estate definition

Learn: Curtesy Real Estate Definition + Rights

The concept refers to a husband’s right, under common law, to a life estate in his wife’s real property upon her death, provided they had a child capable of inheriting the estate. An example illustrates this: if a woman owned land and died before her husband, and they had a child, the husband would be entitled to use the land for the rest of his life, even if the wife’s will directed otherwise. The specifics and availability of this right varied depending on jurisdiction and period.

This legal construct holds significance due to its historical impact on property rights and inheritance laws, highlighting the shift away from traditional gender roles in property ownership. It offered a level of financial security to the surviving husband, ensuring continued access to the family’s real estate. However, it also reveals the constraints placed on a wife’s control over her own property, even in death. Understanding this historical right provides context for appreciating modern property law and marital property rights.

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8+ What is Off Market Real Estate? Definition & More

real estate off market definition

8+ What is Off Market Real Estate? Definition & More

Properties not publicly listed on the Multiple Listing Service (MLS) or other widely accessible real estate platforms constitute a segment of the market where transactions occur privately. These properties, sometimes referred to as pocket listings or quietly marketed properties, are available for purchase but are not advertised to the general public through traditional channels. An example includes a homeowner informing a select group of agents of their intent to sell, bypassing widespread advertising.

This method of property transaction offers several advantages, including increased privacy for the seller and a potentially less competitive environment for the buyer. Historically, off-market transactions were more common, offering a discreet way for high-profile individuals or corporations to divest of assets. Furthermore, it allows for greater control over the sale process and may result in quicker closings due to less negotiation and fewer contingencies.

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