3. REAL PROPERTY LAW.
Real property law: divided into: FREEHOLD ESTATES (1)
LEASEHOLDS. (2)
1): In Freehold estates: an individual has ownership of land for
an indefinite period of time.
2): In LEASEHOLDS: Property interests of limited duration and
can be acquired through a lease (a contract for exclusive
possession in which a tenant pays the landlord or landlady a
specific rent or compensation.
4. TERMINOLOGY
Land: It refers to REAL ESTATE, and everything that grows ñon
that real estate, any improvements to the real estate, such
as buildings and the right to the minerals underneath the
land and the airspace above it.
THE FEE SIMPLE
THE LIFE ESTATE
THE ESTATE PUR
AUTRE VIE
THREE
TYPES OF
FREEHOL
D ESTATE