Understanding Hereditaments: A Comprehensive Guide

In real estate and property law, the term “hereditaments” may not be one you encounter daily, but it is a crucial concept to understand. Hereditaments refer to any kind of property that can be inherited, including both tangible and intangible assets. Knowing the distinction and implications of hereditaments can be essential for property owners, buyers, and legal professionals alike.

What Are Hereditaments?

“hereditament” originates from the Latin word “hereditare,” which means to inherit. In legal terms, hereditary properties can be passed down through inheritance. These properties can be broadly categorized into two types:

Corporeal Hereditaments: These are tangible properties that have a physical presence and can be touched or seen. Examples include land, buildings, and other structures. Essentially, corporeal hereditaments refer to real estate and physical property.
Incorporeal Hereditaments: These are intangible rights or interests in property. They do not have a physical form but can still be inherited. Examples include easements, profits à prendre (rights to extract resources from another’s land), and rents. These legal rights are attached to property and can be passed down to heirs.

Importance of Hereditaments in Property Law

Understanding hereditaments is essential for several reasons:

Estate Planning: Knowing what constitutes hereditaments helps in effective estate planning. It allows property owners to plan how their assets will be distributed after death, ensuring that tangible and intangible properties are correctly accounted for.
Inheritance Disputes: Clear knowledge of hereditaments can help resolve inheritance disputes. When heirs understand what properties and rights they are entitled to, it can prevent conflicts and legal battles.
Property Transactions: For buyers and sellers, understanding hereditaments ensures that all rights and interests in a property are correctly transferred. This is crucial in transactions to avoid any future legal issues.
Legal Clarity: A thorough understanding of hereditaments is essential for legal professionals to provide accurate advice and services to clients regarding property and inheritance matters.

Examples of Hereditaments in Action

To better understand how hereditaments work, let’s consider a few scenarios:

Corporeal Hereditament Example: A landowner passes away and leaves their farm, including the land and buildings, to their children. As a tangible property, the farm is a corporeal hereditament that the children inherit.
Incorporeal Hereditary Example: A property owner has a right of way (an easement) over a neighbor’s land, allowing them to access their property through the neighbor’s driveway. This right of way is an incorporeal hereditament. This right can be passed down to their heirs upon the owner’s death.

Challenges and Considerations

While hereditaments can provide clarity in property and inheritance matters, they also come with challenges:

Valuation: Determining the value of incorporeal hereditaments can be tricky since they are intangible.
Documentation: Proper documentation is essential to ensure that all hereditaments are clearly defined and legally recognized.
Legal Changes: Laws regarding hereditaments can vary by jurisdiction and may change over time, requiring continuous updates and understanding.

Conclusion

Hereditaments play a vital role in property and inheritance law. Whether dealing with tangible assets like land and buildings or intangible rights like easements, understanding hereditaments helps ensure the property is appropriately managed, transferred, and inherited. For property owners, buyers, and legal professionals, a clear grasp of hereditaments is essential for navigating the complexities of real estate and inheritance.

Provider and Settlement Service	Charge or Range of Charges
Sonic Realty LLC	1%-6% of purchase price
Sonic Title Agency, LLC	Title Insurance Policy: $950 - $1706 on a $250,000 property. (Rates vary and are dependent on the state, selling price, and loan amount on the property.) Title Search Fee: $250 - $325 (where applicable) Closing Fee: $450 - $650
Sonic Loans Inc. This company provides various real estate mortgage loan origination activities either as a third-party originator or a mortgage broker, including loan pre-qualification, competitive bid process (when providing third-party origination services), loan origination, loan pre-approval, loan structuring, processing, and closing.	Loan Origination Charge: 0-3 % of loan amount (may include 3^rd party fees) Loan Discount Fee/points: 0.5%-6% of loan amount. Application/Processing Fee: $0.00 - $875.00 Flood and tax service: $0.00 - $95.00 Underwriting Fee: $0.00 - $1295.00 Document Review Fee: $0.00 - $400.00 Appraisal Fee: $0.00 - $850.00 Credit Report Fee: $0.00 - $135.00 Actual charges may vary according to the particular lender selected, the particular services provided, and the underlying transaction, borrower selections, etc. Some or all of these fees may be charged by third parties and/or the Member Mortgage Lender/Mortgage Broker. The Member Lenders and Mortgage Brokers have agreed to pay a fee ranging from 0.5% to 2.75% of the loan amount to Sonic Loans in connection with a range of loan origination services provided by Sonic Loans to the Member Lender/Mortgage Broker. The fees are paid either directly to Sonic Loans by the Member Lender/Mortgage Broker or billed directly to you at closing.

Provider and Settlement Service	Charge or Range of Charges
Appraisal Fee	$0-$800
Credit Report Fee	$63-$125

Understanding Hereditaments: A Comprehensive Guide