18:49
Duke is fun. I took a trip there when I was 19 or so. Really good time when I was a young rapscallion.
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Simple English definitions for legal terms
Running with the land
Read a random definition: landed security
A quick definition of Running with the land:
Running with the land: When you own a piece of land, you might have some special rights that come with it, like being able to use a path that goes through your neighbor's land. Even if you sell your land to someone else, those rights might still be there for the new owner to use. But if the new owner also buys the neighbor's land, those rights might go away.
A more thorough explanation:
Definition: Running with the land refers to rights that are attached to a property and remain with it even after the property is sold or transferred to a new owner.
For example, if a property has an easement that runs with the land to cross over the neighboring land, the new owner of the property would also have the right to cross the neighboring land. This means that the easement is attached to the property and not to the person who originally obtained the easement.
Another example of a right that runs with the land is a covenant. A covenant is a promise made by the owner of a property to do or not do something on the property. If the property is sold, the new owner is bound by the covenant and must also follow the promise made by the previous owner.
These examples illustrate how rights can be attached to a property and remain with it even after it is sold or transferred to a new owner. This is important to understand when buying or selling property because it can affect the way the property can be used or developed.