LAW 603 Chapter Notes - Chapter 15: Leasehold Estate, Life Estate, Easement
2 Nov 2017
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Interests in land: rights that a person can enforce with respect to a particular piece of land. Estates in land: estate: an exclusive right to possess a property for a period of time, fee simple, life estate, leasehold estate. Fee simple: largest package of rights that a person can hold in land. If you enjoy the fee simple in a particular property, you are entitled to possess it for an indefinite duration. Leasehold estate: when a person has exclusive rights to a property for a specific period of time. Condominiums: condominiums: several people share ownership of some parts of a building while individually owning other parts. Non-possessory interests in land: non-possessory interest in land: a person may have rights in a property without being able to actually possess that property, possibilities, easement, restrictive covenants, mineral leases. Is an interest in land but not an automatic right to the things in question.
