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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."

Bailments

A bailment is created when, coupled with the intent to possess certain property, the bailee accepts the actual physical possession and control of the property. In the example, the bailment is created when the dry cleaner accepts the man's suit with the intent to possess the suit.

Mortgage Loans with Balloon Payments

A mortgage loan with a balloon payment provision is very different from a traditional mortgage loan. Usually, mortgage loans with balloon payment provisions are second mortgages as opposed to first mortgages (also known as purchase-money mortgages).

Dog Law - Landlord Liability for Tenant's Dogs

In residential real estate leases, it is not uncommon to find some type of pet restriction. Generally speaking, such restrictions are legal.

Disclosures in Residential Real Estate Transactions

One of the biggest decisions in a person's life is the decision to buy real estate. The excitement often associated with the purchase of a new home can be overshadowed by disappointment once the newness wears off and defects become apparent. Generally, the rule of "caveat emptor" -- buyer beware -- requires the buyer to conduct a reasonable inspection of the premises to discover defects and imperfections.