BLS 342 Lecture Notes - Lecture 16: Fee Simple, Easement, Fifth Amendment To The United States Constitution
7 Mar 2017
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Document Summary
Old school description of how to find boundaries of land. Ex: transferring property to john doe until he gets married. Condition can be to do something or not to do something. When condition is broken it is given back or passed down. Ownership & right to posses is transferred for life. When dead it goes back to the owner of another person named (remainder man) If nobody is specified it goes to next of kin. Waste is legal action that can be taken by anyone with future interest in the property. Damages are the difference in the fair market value from when the first remainder man got it to when they got sued. For that to be legal you must reinvest money received from the resources back into the property\ Right to posses but not to own. Rights to use piece of land for a given purpose. The right to use someone else"s property.
