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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.

Trees -- Damage to or Destruction of by Persons Other than the Property Owner

A tree is owned by the property owner on whose property the trunk of the tree sits. When a property owner has an interest in a tree, the property owner has the right to recover in the event the tree is damaged or destroyed by another.

Like-Kind Exchanges

Internal Revenue Code § 1031 provides the procedure for a little-used tax shelter known as a like-kind exchange. In essence, §1031 allows the exchange of business or investment property for other business or investment property of like-kind, with tax-deferral benefits.

Adverse Possession

Adverse possession is a way that a claimant can establish title to real estate. Essentially, adverse possession is a nonpermissive use of land with a claim of right.

Fences - Maintenance of Boundary Fences

Many properties, particularly residential properties, have boundary fences on at least one side. Generally speaking, the neighbor who erects the fence has the responsibility for maintenance; however, if an adjoining neighbor uses the fence as a boundary fence (perhaps, by erecting fences on all other sides), then the neighbor has some responsibility for the fence, as well. The issue is largely governed by state and local law.