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A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. [1] Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property .
A real estate contract typically does not convey or transfer ownership of real estate by itself. A different document called a deed is used to convey real estate. In a real estate contract, the type of deed to be used to convey the real estate may be specified, such as a warranty deed or a quitclaim deed. If a deed type is not specifically ...
An estate in land is, in the law of England and Wales, an interest in real property that is or may become possessory. [ 1 ] [ 2 ] It is a type of personal property and encompasses land ownership, rental and other arrangements that give people the right to use land.
Permissive waste is failure to maintain the estate, either physically or financially. Rather than requiring some bad act on the part of the tenant, this requires the failure to maintain ordinary repairs, pay taxes, or pay interest on the mortgage by the life tenant or the lessee of a leasehold estate.
In English common law, fee tail or entail is a form of trust, established by deed or settlement, that restricts the sale or inheritance of an estate in real property and prevents that property from being sold, devised by will, or otherwise alienated by the tenant-in-possession, and instead causes it to pass automatically, by operation of law, to an heir determined by the settlement deed.
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