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KES interest in real
Interest in real estate
|Freehold Estates 2
|Fee simple, life estate
|Fee simple estate
|Ownership continues indefinitely also called Fee Simple Absolute, Instate succession
|free hold estate that Lasts for life of person.
|fee simple Determinable
|qualified estate: so long as, while, during example: Church. no legal action required
|fee simple condition subsequent
|qualified : on condition of (no smoking, drinking) must go to court to take back ownership.
|the process by which government exercises right of eminent domain
|Covenants, conditions and restrictions. Private restrictions on use of land.
|private restriction placed in deed and runs with land.
|right to use land of another for particular purpose.
|attached to ownership, goes with land
|easement by necessity
|when land has no legal access to street or public way
|easement by perscription
|open, visible, notorious, hostile use for over 10 years
|easement in gross
|personal or company interest attached to individual/company. (RR lines, personal))
|the right of government to acquire private owned real estate for public use. condemnation is the process used.
|when building, fence or driveway extends beyond property line
|type of interest that does not rise to the level ownership. (easements, licences, private restrictions, liens, encroachments)
|government position of property on death of owner without succession.
|estate in land
|the degree, quality, nature, and extent of ownership in real property
|fee simple determinable
|fee simple defeasable estate that may be inhearted
|the right to retake position on broken condition
|a legal life estate of real estate occupied as the family home. all or part is protected from creditors.
|property owner seeks compensation for diminished value due to proximity to public land use.
|personal privilege of use granted (can be terminated by owner)
|charge against property, security for debt, taxes, mortgage
|enacted legislation to preserve order and public safety, to protect public interest.
|pur autre vie
|for the life of another
|life estate may go to named party remainderman on death of life estate holder
|acquiring private property for public use. 5th amendment states must be compensated.
|charge on real estate to raise funds for government services
|on death goes to creator of life estate
|legal life estate
|created by law dower, curtesy, homestead
|concept of tacking
|when successive periods by different parties are combined to provide total years
|litigation pending, (public record of pending legal action affecting title)
|benefits from easement
|that which providing the benifit
|Government powers PETE
|Police power, Eminent Domain, Taxation, Escheat