Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
-T he ori gi nal doctri ne of tenure
What are the two doctri nes of l aw rel ati ng to l and ownershi p?
-doctri ne of estate
A method of l and hol di ng f or a temporary ti me peri od, but does not i nvol ve
D ef i ne tenure
ownershi p of the l and.
an i nterest i n l and; i .e., the status or extent of ri ghts associ ated wi th tenure
D ef i ne estate
the part of the l aw that i s f ormul ated, devel oped and admi i stered by the common
l aw courts, mostl y underwri tten and f ounded ori gnal l y on common customs. Common
E xpl ai ne Common Law l aw i s based on pri nci pl es more so than speci f i c rul es and has devel oped over the
centuri es usi ng l egal precedents as opposed to statutory provi si ons set out by
parl i amentary decree.
1
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
What i s the hi ghest f orm of ownershi p? F ee si mpl e aka f reehol d
D ef i ne ti tl e the means of evi dence by whi ch the owner of l and has l awf ul ownershi p thereof
D ef i ne f ee si mpl e T he hi ghest estate or absol ute ri ght i n real property
-f ee si mpl e
-f ee si mpl e wi th condi ti ons
What are the 5 types of estates currentl y i n use? -f uture estate
-l easehol d estate
-l i f e estate
2
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
-estate to uses
What are 2 types of estate the are no l onger i n use or val i d?
-f ee tai l
-F ee si mpl e i s a type of estate
-I t i s the hi ghest estate or absol ute ri ght i n real property.
E xpl ai ne f ee si ml e -A bundl e of ri ghts, to use, sel l , l ease, enter or gi ve away the property, i s known as
ownershi p but i s subj ect to restri cti ons i mposed by l aws and government.
-F ee si mpl e aka: f ee si mpl e ti tl e, estate i n f ee si mpl e, f reehol d ownershi p
-F ee si mpl e wi th condi ti ons i s a type of estate whi ch di f f ers f rom f ee si mpl e
-can be created so that i t i s termi nated wi th condi ti ons.
expl ai ne f ee si mpl e wi th condi ti ons
-E .g. a tract of l and mi ght be dedi cated f or educati onal purposes and woul d
revert back of such use was ever termi nated.
-A type of estate
-i nterest granted to an i ndi vi dual by a grantor wi l l cease on the death of named
i ndi vi dual
E xpl ai ne l i f e estate
-Grantor may speci f y ri ghts and obl i gati ons that af f ect the l i f e tenancy;e.g., use of
the l and, l i mi tati ons on al terati ons/i mprovements, and payment of usual expenses
-T hi s type of estate ari ses under the terms of a wi l l
3
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
D ef i ne l i f e estate an ownershi p ri ght to an i ndi vi dual f or a l i f eti me peri od
-a type of estate
-normal l y ari se wi th l i f e estates as l i f e estates coexi st wi th "estate i n remai nder"
-si nce a l i f e estate i s not ever l asti ng, a l arge porti on of the f ee si mpl e remai ns
when the l i f e estate ends. T hi s remai ni ng porti on i s cal l ed a reversi on when the
grantor of the l i f e estate reserves the bal ance f or hi msel f . I f however the grantor
E xpl ai ne f uture estate
gi ves the bal ance to a thi rd party, the remai ni ng porti on i s cal l ed the remai nder.
-T he l i f e tenant and the person enti tl ed to the remai nder both have an i nterest i n
the property f rom the begi nni ng wi th thei r separate ri ghts and obl i gati ons
-thei r combi ned i nterest equal s a f ee si mpl e and i f they are i n agreement they may
revi se any condi ti ons i mposi ng l i mi tati ons
def i ne f uture estates an i nterest i nl and that ari ses at the end of a l i f e estate
def i ne l easehol d estate an i nterest i n l and f or a speci f i ed peri od of ti me
4
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
-T he ori gi nal doctri ne of tenure
What are the two doctri nes of l aw rel ati ng to l and ownershi p?
-doctri ne of estate
A method of l and hol di ng f or a temporary ti me peri od, but does not i nvol ve
D ef i ne tenure
ownershi p of the l and.
an i nterest i n l and; i .e., the status or extent of ri ghts associ ated wi th tenure
D ef i ne estate
the part of the l aw that i s f ormul ated, devel oped and admi i stered by the common
l aw courts, mostl y underwri tten and f ounded ori gnal l y on common customs. Common
E xpl ai ne Common Law l aw i s based on pri nci pl es more so than speci f i c rul es and has devel oped over the
centuri es usi ng l egal precedents as opposed to statutory provi si ons set out by
parl i amentary decree.
1
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
What i s the hi ghest f orm of ownershi p? F ee si mpl e aka f reehol d
D ef i ne ti tl e the means of evi dence by whi ch the owner of l and has l awf ul ownershi p thereof
D ef i ne f ee si mpl e T he hi ghest estate or absol ute ri ght i n real property
-f ee si mpl e
-f ee si mpl e wi th condi ti ons
What are the 5 types of estates currentl y i n use? -f uture estate
-l easehol d estate
-l i f e estate
2
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
-estate to uses
What are 2 types of estate the are no l onger i n use or val i d?
-f ee tai l
-F ee si mpl e i s a type of estate
-I t i s the hi ghest estate or absol ute ri ght i n real property.
E xpl ai ne f ee si ml e -A bundl e of ri ghts, to use, sel l , l ease, enter or gi ve away the property, i s known as
ownershi p but i s subj ect to restri cti ons i mposed by l aws and government.
-F ee si mpl e aka: f ee si mpl e ti tl e, estate i n f ee si mpl e, f reehol d ownershi p
-F ee si mpl e wi th condi ti ons i s a type of estate whi ch di f f ers f rom f ee si mpl e
-can be created so that i t i s termi nated wi th condi ti ons.
expl ai ne f ee si mpl e wi th condi ti ons
-E .g. a tract of l and mi ght be dedi cated f or educati onal purposes and woul d
revert back of such use was ever termi nated.
-A type of estate
-i nterest granted to an i ndi vi dual by a grantor wi l l cease on the death of named
i ndi vi dual
E xpl ai ne l i f e estate
-Grantor may speci f y ri ghts and obl i gati ons that af f ect the l i f e tenancy;e.g., use of
the l and, l i mi tati ons on al terati ons/i mprovements, and payment of usual expenses
-T hi s type of estate ari ses under the terms of a wi l l
3
, Land,
Land, Structures andStructures and
Real Estate Real Estate
Trading SectionTrading
1 Property Ownership
Study this set o nline at: https://www.cram.co m/flashcards/land-structures-and-real-
estate-trading-5983622
D ef i ne l i f e estate an ownershi p ri ght to an i ndi vi dual f or a l i f eti me peri od
-a type of estate
-normal l y ari se wi th l i f e estates as l i f e estates coexi st wi th "estate i n remai nder"
-si nce a l i f e estate i s not ever l asti ng, a l arge porti on of the f ee si mpl e remai ns
when the l i f e estate ends. T hi s remai ni ng porti on i s cal l ed a reversi on when the
grantor of the l i f e estate reserves the bal ance f or hi msel f . I f however the grantor
E xpl ai ne f uture estate
gi ves the bal ance to a thi rd party, the remai ni ng porti on i s cal l ed the remai nder.
-T he l i f e tenant and the person enti tl ed to the remai nder both have an i nterest i n
the property f rom the begi nni ng wi th thei r separate ri ghts and obl i gati ons
-thei r combi ned i nterest equal s a f ee si mpl e and i f they are i n agreement they may
revi se any condi ti ons i mposi ng l i mi tati ons
def i ne f uture estates an i nterest i nl and that ari ses at the end of a l i f e estate
def i ne l easehol d estate an i nterest i n l and f or a speci f i ed peri od of ti me
4
