Chapter 2 - Property, Estates and Ownership

1) the most complete form of ownership of real property 2) a freehold estate that can be passed by descent or by will after owners death. 3) estate of inheritance or free simple estate

1) the largest, most complete ownership recognized by law 2) an estate in fee with no restirctions on its use 3) property transferred or sold with no conditions or limitations on tis use.

Ownership interest a person has in real estate legal interest in land defines the nature, degree, extent and duration of a persons ownership in land.

1) a signed statement made before a notary public, by a named person confirming the isgnature on a document and that it was made of free will 2) a formal declaration to a public offical by a person who has signed an instrument which states that the signing was voluntary.

An estate that is limited in duration to the life of its owner or life of another designated person.

Land boardering a lake ocean or sea, as opposed to land boardering a stream or river (running water)

Legal document that transmits real property from the state to a person

Anything movable, not real property

The process of acuiring an interest not ownership in a certain property.

Right of an owner or tenant to the use of the property with out interference from the acts or claims of third party.

Anything attatched and unmovable by law

The rights of a landowner whos land is next to a natural watercourse to resonable use of whatever water flows past the property.

Ownership of real property by one person or entity.

Evidence that the owner of hte land is in lawful possession.

An item of personal property such as shelf, cash register, room pattition or wall mirror used to conduct a buisness.