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In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. A defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment. Historically, the common law has frowned on the use of future interests as it interferes with the owners' enjoyment of their property and as such has made it difficult to create a valid future interest. Unless a defeasible estate is clearly intended, modern courts will construe the language against this type of estate. Two types of defeasible estates are the fee simple determinable and the fee simple subject to condition subsequent. Image File history File links SmallLadyJustice. ...
Property law is the law that governs the various forms of ownership in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. ...
This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ...
A gift, in the law of property, has a very specific meaning. ...
In common law real estate law, adverse possession is a means of acquiring title to anothers real property without compensation, by, as the name suggests, holding the property in a manner that conflicts with the true owners rights. ...
A deed is a legal instrument used to grant a right. ...
In the common law of property, personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come into...
Bailment describes a legal relationship where physical possession of personal property (chattels) is transferred from one person (the bailor) to another person (the bailee) who subsequently holds possession of the property. ...
A license or licence is a document or agreement giving permission to do something. ...
Estate is a term used in the common law. ...
Allodial title is a concept in some systems of property law. ...
Fee simple, also known as fee simple absolute or allodial, is a term of art in common law. ...
A life estate, at common law is an estate in real property that ends at death. ...
Fee tail is an obsolescent term of art in common law. ...
A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. ...
A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ...
Conveyancing is the act of transferring the ownership of a property from one person to another. ...
A bona fide purchaser (or BFP), in the law of real property, is a person who purchases land for value, without notice of any other partys claim to the title to that land. ...
Torrens title is a system of land title where a register of land holdings maintained by the state guarantees indefeasible title to those included in the register. ...
Estoppel by deed is a doctrine in the law of real property that arises where a party conveys title to land that he does not own to a bona fide purchaser, and then acquires title to that land. ...
A quitclaim deed is a term used in property law to describe a document by which a person disclaims any interest the grantor might have in a piece of real property, and passes that claim to another person (the grantee). ...
A mortgage is method of using property as security for the payment of a debt. ...
Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time that they sign a contract binding them to purchase the land at a later date. ...
This page is a candidate to be copied to Wiktionary. ...
A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring his interest in the property. ...
The Rule against perpetuities is a rule in property law that requires that no interest in property is valid unless: 1) it must vest, if at all, 2) not later than 21 years 3) after one or more lives in being 4) at the creation of the interest. ...
The Rule in Shelleys Case, dating from the 14th century, is a famous if now almost useless legal rule that is now the bane of most first-year law students studying common law real property law. ...
In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. ...
A nonpossessory interest in land is a term of the law of property to describe any of a category of rights held by one person to use land that is in the possession of another. ...
An easement is the right of use over the real property of another. ...
A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. ...
A covenant running with the land, in the law of real property, is a nonpossessory interest in land in the form of an agreement between adjoining landowners to do or not do something with relation to the land that they respectively occupy - to maintain a fence, for example, or not...
An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land, requiring the landowner to maintain certain practices with respect to the land (e. ...
In the law of real property, fixtures are anything that would otherwise be a chattel that have, by reason of incorporation or affixation, become permanently attached to the real property. ...
Waste is a term used in the law of real property to describe a cause of action that can be brought in court to address a change in condition of real property brought about by a current tenant that damages or destroys the value of that property. ...
A partition is a term used in the law of real property to describe the court-ordered division of a concurrent estate into separate portions representing the proportionate interests of the tenants. ...
Riparian water rights is a system of allocating water among the property owners who abut its source. ...
Lateral and subjacent support, in the law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining land and underground structures. ...
An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ...
Nemo dat quod non habet, literally meaning no one [can] give what they dont have is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. ...
A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ...
In the common law, a tort is a civil wrong for which the law provides a remedy. ...
In the law, a will or testament is a document by which a person (the testator) regulates the rights of others over his property or family after death. ...
The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ...
Criminal law (also known as penal law) is the body of law that punishes criminals for committing offences against the state. ...
The law of evidence governs the use of testimony (eg. ...
Property law is the law that governs the various forms of ownership in real property (land as distinct from personal or movable possessions) and in personal property, within the common law legal system. ...
Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ...
Fee Simple Determinable
A fee simple determinable is an estate that will end automatically if the condition of the grantor occurs and the interest will revert back to the grantor or the heirs of the grantor. The future interest created with this estate is called a possibility of reverter. Durational language such as, "to A as long as the property is used for a park" creates this type of estate.
Fee Simple Subject to Condition Subsequent A fee simple subject to a condition subsequent does not end automatically upon the happening of the condition; the future interest in this estate must be claimed by the holder of the interest. The future interest is called a right of entry. The language used to create this interest is, "to A, but if A sells alcohol on the land, then grantor has the right of reentry." |
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