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Usufruct

The meaning of the term “usufruct” is the right of enjoying a thing, the property of which is vested in another, and to draw from the same all the profit, utility, and advantage that it may produce, provided it be without altering the substance of the thing. The person who has the right and enjoyment of a usufruct is known as a “usufructuary.”
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Mechanic’s Liens

A mechanic’s lien, also known as a materialman’s lien or a construction lien, is a mechanism whereby contractors involved in the process of making improvements to real estate secure payment for their services and materials.

Rights and Duties of Co-Tenants

Co-tenants may own real estate in one of three ways — as joint tenants, as tenants in common, and as tenants by the entirety. Except for the exclusive rights noted below, co-tenants generally have the same rights and duties.

The Real Estate Settlement Procedures Act

Certainly, the purchase of a home is a very significant event. In 1974, Congress enacted the Real Estate Settlement Procedures Act (RESPA) in order to protect home buyers from paying excessive settlement costs and from certain abusive practices.

The Rule against Perpetuities

The Rule against Perpetuities: No future interest is valid unless it can be shown that it will necessarily vest, if at all, no later than 21 years after some life in being at the creation of the interest.
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