2011©Cengage Learning. All Rights Reserved.. Estates in Land 2011©Cengage Learning. All Rights Reserved.

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Presentation transcript:

2011©Cengage Learning. All Rights Reserved.

Estates in Land 2011©Cengage Learning. All Rights Reserved.

Estate legal term used to define the degree of a person’s ownership interest in property. 2011©Cengage Learning. All Rights Reserved.

Duration of an Estate Freehold estates Nonfreehold estate or leasehold 2011©Cengage Learning. All Rights Reserved.

Quality of an Estate Fee simple absolute Conditional estate 2011©Cengage Learning. All Rights Reserved.

Estate’s Time of Enjoyment Present interest Future interest 2011©Cengage Learning. All Rights Reserved.

Owners Ownership in severalty Joint tenancy Tenancy in common Community property 2011©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Fee Simple Absolute Estate 2011©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Fee Simple Defeasible Estates 2011©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Determinable Estates before ©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Fee Simple Subject to Condition Subsequent 2011©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Life Estate 2011©Cengage Learning. All Rights Reserved.

FREEHOLD ESTATES Contingent Life Estates  Rights & Duties of Life Tenant Rule against Perpetuities 2011©Cengage Learning. All Rights Reserved.

NONFREEHOLD ESTATES Nature of Tenancy  Leasehold Comparison to Other Relationships Importance of Differentiation 2011©Cengage Learning. All Rights Reserved.

Eviction Procedure Strict adherence required 3 days notice Unlawful detainer court action Eviction by sheriff 2011©Cengage Learning. All Rights Reserved.

Leasehold Types Estate for Years Periodic Tenancy Tenancy at Will Tenancy at Sufferance 2011©Cengage Learning. All Rights Reserved.

Advantages of a Written Lease Informal oral agreement is perfectly valid, binding, and enforceable. 2011©Cengage Learning. All Rights Reserved.

Advantages of a Written Lease Lease term greater than one year must be in writing. 2011©Cengage Learning. All Rights Reserved.

Advantages of a Written Lease Easier proof at trial. 2011©Cengage Learning. All Rights Reserved.

Advantages of a Written Lease Screening technique to eliminate unworthy tenants. 2011©Cengage Learning. All Rights Reserved.