Property_ A Contemporary Approach 4th Edition Notes.docx

Testatrix - a woman who makes a valid will Will - A legally enforceable declaration of how a person wishes his or her property to be distributed after death Intestate Succession - the succession of an heir at law to the property and estate of his ancestor when the latter has died without a will Descend - the transfer of property by intestate succession Heir - the one who receives property by intestate succession Different types of estates are distinguished by... - their duration. Fee Simple Absolute - The maximum possible estate one can possess in real property; also referred to as fee simple or fee. an estate in land that provides the owner with a complete set of legal rights, limited only by the powers of government By definition, there is not future interest because the owner of the FSA holds all of the interest presently. Alienable - able to be transferred to new ownership Capable of being aliened or alienated, as lands. Devisable - An ownership interest that may be transferred upon death. can be transferred by will at death Descendible - It can pass by the laws of intestate succession if the owner dies without a will. Successors and Assigns - page 309 Words of Purchase - the part of a conveyance that identifies the grantee Words of Limitation - Describe the type and duration of the estate taken by the transferee