REAL PROPERTY definitions
Terms in this set (26)
Land and everything permanently attached to it
possessions such as jewelry, furniture, and boats
Property that has a physical form e.g. a car
Property that has no physical form e.g. copyright or company shares
property consisting of land or buildings
An estate in land in which ownership is for an indefinite length of time, in contrast to a leasehold estate.
a contract granting use or occupation of property during a specified time for a specified payment
Rights the lessor grants to the lessee under the terms of a lease.
The greatest possible interest a person can have in real estate, without restrictions
An interest in real property that is limited in duration to the lifetime of its owner or some other designated person or persons.
estate pur autre vie
an estate that a person holds during the life of another person
act of transferring property title from one person to another
a person who inherits another's belongings
the individual who conveys the ownership rights of real property
A person who receives a conveyance of real property from a grantor.
The owner of property that is leased or rented to another
A person who pays for the right to live in a residence owned by someone else
A fee charged for the use of property or land
a legal document giving official permission to do something
One who receives a license to use, or enter onto, another's property.
the official document transferring ownership from seller to buyer
Statute of Frauds
A state statute under which certain types of contracts must be in writing to be enforceable.