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15 Cards in this Set

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  • Back
power of escheat
no one legally eligible to receive title of property, sate takes title.
intestate(without will) succession
owner dies without a valid will the property is distributed according to statues of intestate succession.
estate
interest in property sufficient to give thw owner of the estate roght to possession of property
freehold estates
estates of inheritance. interest in land for a lifetime.
fee simple estates (inhert)
greatest form of ownership in real property. fee denotes inhertitability.
bundle of rights
provides certain rights in fee simple absolute. right to possession, right of quiet enjoyment, right to dispose of property by sale gfit or will, right to control use of property w/in use of law. right to profits.
fee simple determinable (inhert)
title can be terminated by grantor. will automatically revert to grantor or grantors heirs if not used for purpose specified in conveyance. also DEFEASIBLE."so long as"
fee simple subject to a condition subsequent (inhert)
conveyed with condition. but will not automatically revert to grantor, go to court. also DEFEASIBLE, QUALIFIED FEE ESTATE, CONDITIONAL FEE ESTATE. "so long as"
estates pur autre vie (for the life of another) (inhert)
measured by the lifetime of a person other then person receiving title. A granted property to B as long as C is alive. when C dies D gets property. If B dies before C it goes to B's heirs.
life estate
non inhertitable freehold estate
life tenant
one who holds life estate. has right to profit as long a don't waste or damage property.
revisionary interest
will revert to grantor or his heirs upon death of life tenant.
remainder man
has a remainder, or future, interest in property. after death of life tenant title reverts to remainderman who would have title in fee simple absolute.
marital life estate
statute provides for a life estate to the surviving spouse in one third of the property owned in severality by deceased spouse.
estovers
using land resources for purpose of property.