Estates in Land
This type of estate gives ownership rights for an indefinite period of time.
What is a freehold estate?
A leasehold estate is considered this type of estate.
What is a nonfreehold estate?
The complete set of legal rights associated with ownership.
What is the bundle of rights?
The most common form of concurrent ownership.
What is tenancy in common?
The future interest retained by a grantor after conveying a life estate.
What is a reversion?
This estate is the highest form of ownership recognized by law.
What is a fee simple absolute estate?
This leasehold estate has a specific beginning and ending date.
What is an estate for years?
The right to transfer ownership by sale, gift, or will.
What is the right of disposition?
This form of ownership includes the right of survivorship.
What is joint tenancy?
The person who receives ownership after a life estate ends.
Who is remainderman?
This estate continues only for the duration of a person's life.
What is a life estate?
This leasehold continues from period to period until terminated by notice.
What is a periodic estate?
This type of ownership belongs to one person or legal entity.
What is ownership in severalty?
Joint tenants must acquire ownership under the same deed and at the same time; these are part of the four ______.
What are the unities?
This future interest passes to a third party after the life estate terminates.
What is a remainder interest?
The person whose life determines the length of a life estate.
Who is measuring life?
A tenant who remains after a lease expires without the owner's consent is this type of tenant.
What is a tenant at sufferance?
Ownership by two or more persons is known by this general term.
What is concurrent ownership?
Property ownership available only to married couples in some states.
What is tenancy by the entirety?
The owner of a life estate has the duty to avoid committing this act that harms the property's value.
What is waste?
A life estate based on the life of someone other than the life tenant.
What is an estate pur autre vie?
The principal north-south line used in the Rectangular Survey System.
What is a principal meridian?
The right that allows an owner to keep others from entering the property.
What is the right of exclusion?
The automatic transfer of a deceased owner's interest to surviving co-owners.
What is the right of survivorship?
When a life tenant dies, this event causes the life estate to terminate automatically.
What is the death of the measuring life?