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Real Estate Terms

QuestionAnswer
the ownership of real estate by one individual severalty
a form of property ownership in which owners hold undivided fractional interests that are inheritable by their heirs tenancy in common
a form of ownership in which multiple owner's hold property with a right of survivorship joint tenancy
a legal method for dissolving/dividing a co-ownership partition
a special form of co-ownership for married couples tenancy by the entirety
a device by which one person transfers ownership of property to someone else to hold or manage for the benefit of a third party trust
a form of trust established by will after the owner's death testamentary trust
an association of two or more persons who carry on a business for profit as co-owners partnership
the evidence of right to occupy a unit in a cooperative proprietary lease
the rules determining the operation and management of a cooperative bylaws
a business organization in which all members participate in the operation and management of the business and share full liability for business losses an obligations general partnership
a business organization that is a legal entity managed and operated by a board of directors cooperation
on death of joint tenancy, the deceased interest transfers directly to remaining joint tenants right of survivorship
a business organization that combines the tax advantages of limited partnerships and limited liability of corporations limited liability company
in a community property state, real or personal property that was owned solely by either
Created by: user-1842171
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