REM 300 Lecture Notes - Lecture 1: Leasehold Estate, Fee Simple, Interest

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 300
• Professor: David Scofield

Document Summary

History of land ownership: land ownership emerged in england in the middle ages, tenants on crown land gradually obtained rights through the legal system (with bloodshed) Estates evolved to be a bundle of rights that is associated with land ownership: the most complete bundle of rights is called a fee simple estate . Forms of direct co ownership: tenancy in common: Standard form except in special cases and in marriage. Fee simple estate with multiple owners: your heir inherits your share. Joint tenancy: the co-owner gets your share when you die, not your heirs, only created under very specific conditions same legal document giving title, same time, same rights of possession, same share of the interest (50- Set of laws associated with the family residence owned by a married couple: rules about settlements in the event that one spouse dies or in the case of divorce. Individual ownership (in fee simple estate) of some particular physical space.