Term
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Definition
| the bundle of individual rihts of ownership in real estate, such as the right to own, occupy, use, sell, and transfer real estate |
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Term
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Definition
| forms of ownership that include present possession and ownership for an indefinite or unknown period of time. |
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Term
| fee simple absolute estate |
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Definition
| a freehold estate without limitation or restriction of any kind for an indefinite period of time, the life on the owner |
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Term
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Definition
| the right to receive the property of another upon that person's death |
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Term
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Definition
| often used interchangeable with the term estate to describe the entire bundle of rights that the owner of a fee simple absolute estate has |
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Term
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Definition
| the written document that is usually to transfer an estate or title to real property |
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Definition
| the person transferring the title |
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Term
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Definition
| the person to whom the title is transferred |
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Term
| defeasible fee simple estate |
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Definition
a freehold estate in land that ends upon the occurrence of a future event that was specified by the grantor when the title to the land was transferred
There are two kinds:
1) Fee simple determinable
2) fee simple conditional |
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Term
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Definition
| a freehold estate that terminate if an even specified by the grantor occurs, or a specific use specified by the grantor evnds |
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Term
| possibility of reverter or reversion |
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Definition
| the ownership of the property will automatically go back to the grantor if still alive or to the grantor's heird or assigns |
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Term
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Definition
| freehold estate that continues uninterrupted until the occurrence of an event in the future |
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Term
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Definition
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Term
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Definition
| grantor's future interest that requires an affirmative action by the grantor, her heirs, or her assigns to reassert the ownership based on the violation of the specific terms of the original grant limited the use of the property |
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Term
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Definition
| a freehold estate limited in duration to the life of a designated individual |
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Term
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Definition
| the designated individual whose lifetime will determine the duration of the life estate |
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Term
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Definition
| on the death of the measuring life, the property will revert automatically to the grantor |
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Term
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Definition
| a future interest following the end of a limited possessory estate |
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Term
| life estate pur autre vie |
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Definition
| a special form of life estate that literally translates for another's life (the life term is based on another person's life term than that of the grantee) |
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Term
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Definition
| the right to currently own, posses, use, and enjoy the property |
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Term
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Definition
| the right to own the property at some unknown time in the future |
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Term
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Definition
| estimate of the remaining years of life of the average person based on his or her current age |
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Term
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Definition
| the action or inaction of the life tenant, which causes the value ofthe remainder interst to decrease |
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Term
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Definition
| the life estate right a wife had in her husbadn's estate upon his death |
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Term
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Definition
| the husband's right to a life estate in his wrife's individually owned real property upon her death |
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Term
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Definition
| statutory schem or inhertiance used when one fails to write a will |
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Term
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Definition
| an estate in real property that has a definite time period and is limited to present possessory rights |
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Term
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Definition
| the owner ofthe freehold estate |
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Term
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Definition
| holder of the non-freehold estate |
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Term
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Definition
| the estate owned by the tenant or lessee |
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Term
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Definition
| a particular type of leashold estate for use of ground, usually for al ong period of time and to control the use and occupancy of land in a community |
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Term
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Definition
| any leasehold interest of a specific duration, no matter how long or short |
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Term
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Definition
| an agreement with no stated duration of lease period, but rental payments are due at particular |
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Term
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Definition
| also called an estate at will, an informal lease arrangment wehre the landlord allows a tenant to stay on a month-to-month basis and which may be terminated at any time by the landlord or tenant |
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Term
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Definition
| also called a tenancy at will, an informal lease arrangement whether the landlord allows a tenant to stay on a month to month basis and which may be terminated at any time by the landlord or tenant |
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Term
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Definition
| a tenancy created when a tenant retains possession after expiration of valid tenancy |
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Term
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Definition
| tenant who stays beyond either the mont-to-month period or an exact term of years |
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Term
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Definition
| the lowerst grade of estate, it si the estate held by one who reains possession of real property with no title at all |
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Term
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Definition
| property is free from defects that would render in uninhabitable |
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