business elements

Discuss the elements of a contract and its consequences.

1. Fee Simple is the highest form of ownership in real property, also known as “absolute
ownership”. It gives the owner full control over the property and the right to transfer
or sell the property to another party. It is considered important to businesses as it
provides a clear and direct ownership right over the property, which can be used as
collateral or rented out for income. It also provides stability and security to the
owner, as the property cannot be taken away without due process of law. Public
control of real property refers to the government’s power to regulate the use and
ownership of land, buildings, and other structures. This can take various forms, such
as zoning laws, building codes, eminent domain, and environmental regulations.
Over the years, the laws regarding public control of real property have evolved, with
the government increasing its power to regulate land use and development. This has
led to a balance between private property rights and public interests, ensuring that
the use of land serves the greater good. Torts are civil wrongs committed against
another person or property. Torts against property can include acts such as theft,
vandalism, and trespassing. Torts against property owners can include negligence,
nuisance, and strict liability. It is important for property owners to be aware of these
torts, as they can lead to liability and financial damages. Additionally, it is also
important for individuals to understand their rights and responsibilities when it
comes to property, as they may be held accountable for any torts committed against
others.
2. Fee simple is one of the most common forms of ownership. Fee simple or fee simple
absolute also may be referred to as “complete ownership” is a right to exclusively
own a piece of land. Under fee simple, the landowner has legal maximum ownership
on the land. Fee simple is important for many reasons. The owner has complete
rights that are recognized under the law. These rights carry on and never expire. The
owner has legal rights to do whatever he or she pleases. The owner has rights to use
the land however they want, this includes disposing of or transferring the property to
whomever they choose. Real property is land and anything on or permanently
attached to it. The public control of real property lies under the government
jurisdiction. One of the most common types of public control when it comes to real
property is zoning.