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Law of Contracts Chapter 4 - Chapter 6

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What is Estate?

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Terms in this set (124)

What is Estate?

An estate is the interest, or nature of the interest a person has in real property.

What are four estate?

1. Freehold Estate
2. Leasehold Estate
3. Statutory Estate
4. Equitable Estate

What is an allodial system?

Individuals could privately own lands.

What are governmental powers?

PETE (Police Power, Eminent Domain, Taxation, and Escheat)

What is Police Power?

The right of the government to regulate and control the way the land is used. EX: Zoning, building codes