pp. 72-73 ex 1-3 Instruments and people in real property law
Act of conveyance: (atto di cessione) transfer of title in land from one person to another
Goods and chattels: beni ed effetti
title interest: diritto nel titolo, interest in the real property
Lease/let/rent vb. They are used interchangeably – More common:
To lease/let property to somebody and rent property from somebody
Lease= n. the agreement
Rent= n. the money to be paid
inheritable = passed on to heirs
Buy to let investment
Real Estate in Italypros & cons of leasehold
Statute of frauds
The statute of frauds del 1677 fu la prima legge nel sistema inglese a prevedere la forma scritta ad probationem, ossia la possibilità di far valere in giudizio un contratto che è e rimane valido di per sé. Successivamente il Law of Property Act 1925 ritenne obbligatoria la forma scritta ad probationem solo per i contratti aventi per oggetto la proprietà o altri diritti reali su beni terrieri e il Law Reform (Enforcement of Contracts) Act 1954 stabilì che detta forma fosse da ritenersi necessaria per i contratti di garanzia.[read more..]Traditionally, the statute of frauds requires a writing signed by the party against whom enforcement is sought in the following circumstances:
• Contracts in consideration of marriage.
• Contracts which cannot be performed within one year.
• Contracts for the transfer of an interest in land. Contracts by the executor of a will to pay a debt of the estate with their own money.
• Contracts for the sale of goods above a certain value.
• Contracts in which one party becomes a surety (garanzia acts as guarantor) for another party's debt or other obligation.
Law students often remember these circumstances by the mnemonic "MYLEGS" (marriage, year, land, executor, goods, surety). It is important to note that in the United States, each State; in Canada, each province; and in Australia each State has its own variation on the statute of frauds, which may differ significantly from the traditional list.