Law 2101 Chapter Notes - Chapter 10: Leasehold Estate, Life Estate, Estate Planning
26 Oct 2016
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Tuesday, february 2, 2016 law 2101 p- reading notes real property. Property is best described as a relationship between people. for legal purposes more important to talk about relationship between people bc more interested in rights and responsibilities that various people have with respect to those things. Real property is land and anything permanently attached to the land and is xed and not moveable. Personal property is anything not real property. and is either tangible or not tangible. Real property: possessory interests in land. There are 3 types of possessory interests in land. Fee simple: greatest private interest that a person can have in real property . referred to as ownership. can be defeated by easemnets, rights of way, adverse possession or government expropriation among many other interests. Leasehold estate: interests in real property that are limited to speci c period of time, after which land reverts back to the owner. created by lease agreemesnts, lesser interests in land.
