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 liaoyu03
Joined: 09 Sep 2007
Posts: 213
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 Posted: Fri Sep 14, 2007 9:07 pm Post subject: May i sak something about the term 'Abandonment'? |
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| Quote: | | John owns a property in New Jersey. He left the house without handling over the rights to someone else and purchased a property in San Francisco. Such a kind of surrender of the property ownership is known as 'Abandonment'. |
May i sak something about 'Abandonment'? i'm a beginner.
Does the‘property' means 'home property' in this example?
and why is just 'Abandonment' when he leave his house without handling over the rights and purchased a property in onter state?
have I got to hand over my home property right to other people befor buying other home property ? the home property right is mine, why do i need to hand over to other people. after i hand over my property to other one, that means i have lost my property? it's gratis to present my property to others? How can I own above one home property?
Thanks every. Maybe my problem is simple to you, but i'm a beginer.I want to know. |
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larry
Joined: 27 Jun 2007
Posts: 3328
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| Posted: Fri Sep 14, 2007 10:00 pm Post subject: |
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Hi Liaoyu,
Welcome to the forum.
The concept of abandonment means the act of voluntarily giving up the rights to a property by a homeowner without the intention of not reclaiming it in future. A person who has abandoned his real estate, it means that he has vacated the property, but without vesting it in any other person. The vacated property may be taken over by the next person who will come to the property.
In the example that you have cited, the property here means the home property only. So before buying another house, you do not have to transfer your property rights to another person. |
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liaoyu03
Joined: 09 Sep 2007
Posts: 213
9.09 Dollars($)
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| Posted: Fri Sep 14, 2007 11:07 pm Post subject: |
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thanks larry.
but i have another question: | Quote: | | So before buying another house, you do not have to transfer your property rights to another person. |
It's means that i will have to transfer my property rights to another person after buying another house? Why not I can own more property? I think the more property,the more better. furthermore, the property is mine, I have no reason to abandon my property , that's my money. |
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larry
Joined: 27 Jun 2007
Posts: 3328
473.51 Dollars($)
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| Posted: Sat Sep 15, 2007 12:48 am Post subject: |
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Hi Liaoyu,
Actually I did not meant to say like this. I mean there is no need to transfer your property to anyone even if you purchase a new property. You can own as many properties as you want. For that, you do not have to transfer your previous property to some other person.
Hope I make you clear. |
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liaoyu03
Joined: 09 Sep 2007
Posts: 213
9.09 Dollars($)
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| Posted: Sat Sep 15, 2007 8:25 am Post subject: |
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| yes, owing to your clear and complete explaination , i have been clear. thanks . |
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