U. S. Real Estate Law – General Overview

The author of the article provides an overview of the real estate legislation of the United

States of America and notes the historical aspects of its formation.
The elements of real estate at the level of conceptual foundations are studied. A comparative

analysis of real estate with other forms of ownership is made. The essence of the concept of «complex of rights» of the owner of real estate is presented: the right to withdrawal; the right to transfer; the right to possession and use; and the right to destruction. The author examines the peculiarities of the land owner’s exercise of the following rights: to use the land surface, the right to air above the land surface; the right to water and the right to subsoil within the land plot.

A comparative analysis of the forms of ownership of real estate in the United States of America, such as: Simple ownership, Lease, Condominium, Cooperative, Planned multifamily development and types of real estate use, Land lease with the right to use airspace, License to use space (place, plot), covenant.

The article reveals the essence of state control over land use, especially zoning – the practice of determining the permitted use of land in different zones. The author examines the options for real estate transactions and the forms of relevant agreements, namely, the most common form of joint ownership – «joint with the right to survival» and others. The mechanism of assignment to third parties of their rights under a lease agreement by both the lessee and the lessor is disclosed.

The author of the article pays attention to the issue of keeping all documents confirming the ownership of real estate (land documents) in a state office, which is open for review by any interested person. The author demonstrates the importance of state registration of all real estate transactions, namely, the emergence of the right to protect registered real estate.