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What does seized in fee simple mean?
That means real property was owned by the decedent at the time of her death, i.e., the decedent was seized in fee simple of certain property as follows . . . . When land is conveyed to a new owner the new owner becomes seized in fee simple of that property. It's an old common law term that comes from the word seisen which is the possession of a freehold estate. Seisen was used to contrast the lesser estate held by tenants in a village where the land was considered to be the possession of the lords who held the freehold estate.
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Seized means to grasp suddenly and forcibly, to take or grab byforce.
The verb to seize means to grab and hold. Example: "I pulled away before he could seize the phone from me." "The enemy troops prepared to seize the city." "Moving parts will o…ften seize, or become stuck together, unless lubricated."
Both fee and fee simple mean that you are the absolute owner of real property. You can sell the land or leave it to your heirs.
Is a high rise condo owned by "fee simple?" I thought it meant owning the dirt it sits on? If it is not fee simple what is it called? There is an association of course.
Fee simple is the highest level of ownership interest you can have of the "bundle of rights" that come with owning property. Right of survivorship (frequently noted as JTWRO…S - for joint tennacy with right of surviorship), means there are (at least 2) owners noted and when one dies the other gets that portion automatically....you do not exactly own a separate portion you can sell...but it is owned as one by more than one.
Fee simple is the highest form of ownership of real property. Fee simple is absolute ownership. The owner in fee simple can sell the property or if they die while owning prope…rty it will pass to their heirs upon death by their will or by the laws of intestacy. An equitable fee simple would be an interest in real property that is something less than absolute ownership or fee simple. For example: . A decedent died having a will and leaving their real property to their only child. The estate must be probated in order for legal title (fee simple) to pass to that child. If the estate is not probated that child would only own an equitable fee simple interest in the property. Their ownership would not be perfected until the parent's estate is probated.
Fee simple with a joint tenancy is essentially complete ownership of property by more than 1 person. The term "fee simple", also called "fee simple absolute", means that… the owner owns the property outright with right to use it during his lifetime and convey it by deed during his life or by will upon his death. The terminology is from old English and was used to distinguish full ownership from less than full ownership. Full ownership does not refer to percentage of ownership. It refers to the right to use it during life (a present interest) and to dispose of it later on (the future interest). Another type of ownership back then was called "fee tail". This meant that the owner could convey the property only to members of his blood family, or "tail". If he conveyed it to anyone else, the person that sold it to the owner could take the property back. This obviously limited the owners rights and so he did not have simple absolute rights to the property. A fee simple can be owned jointly by two or more persons. As long as no one else has any present right and as long as there are no restrictions on future conveyances, the interest in the property is still fee simple.
When a home owners' association forecloses on a lien for delinquent fees does that mean the home owner's property can be seized to pay the debt?
To foreclose means to start the legal process by which the property can be sold to settle the debt or other obligation. The property is sold to the highest bidder. At th…e auction the association will open the bidding and by default they win the auction if no other bidders step forward. Depending on the priority of the lien other debts, obligations or priorities might continue to exist after the foreclosure. The association amy own the property but will still need to address the other liens. The same applies to the other possible bidders. Foreclosure action is serious and a property owner should definitely respond immediately to find a solution. Waiting too long will limit one's possible solutions. In many foreclosures the owner waits until it is too late as they are in denial about the true risks.
In order to understand fee simple defeasible and fee simple determinable we should understand what is meant by fee simple absolute at common law. Generally: Fee simple abs…olute is the way we describe the complete and total ownership of real property. The owner in fee simple absolute has the right to full possession and control of the property. The property will pass to the owner's heirs upon death. Generally the conveyance of real estate by a deed conveys fee simple absolute. Generally, when we speak of "fee simple" we are referring to fee simple absolute. Ownership in fee simple determinable indicates that ownership may be altered if certain conditions occur or do not occur whatever the case might be. It is not an absolute ownership of real property. If the conditions are breached the grantor must make entry to repossess the property. Land was conveyed to John with the restriction that it may only be used for a children's hospital. The conveyance is in fee simple with a determining factor. If the restriction is violated and John uses the property as a hotel, the land reverts back to the grantor. John owns a determinable fee.A farmer may convey a small parcel to a neighbor's son for a nominal sum subject to the condition that the grantee enclose it, install utility lines and build a house within two years or the property will revert to the grantor. Fee simple defeasible occurs when there is power in the grantor to terminate the estate on the happening of some specified event. A deed to John with a condition that the land only be used for residential purposes or the grantor or his heirs shall have a right of entry or termination. If the condition is breached the estate continues until the grantor makes an entry or brings an action to recover the land. There is no automatic reversion.
If you own land in fee simple (or in fee) that means that you are the absolute owner of real property. You can sell the land or leave it to your heirs. If you die without a w…ill the land will pass to your legal heirs at law through probate court. Ownership of real property is generally transferred by a deed or by a Will.
Marlaina`s new nickname from all my friends at school. They call Fee-fee cause im so cool-cool and your so not-not!!!!!! Oh yeah! Im a rapper!!!!
Fee simple is the absolute ownership of land. The person who owns the land in fee simple can sell it during their life or leave it to their heirs when they die either by will …or by intestate succession.
Fee simple absolute is the way we describe the complete and total ownership of real property. The owner in fee simple absolute has the right to full possession and control of …the property and the property will pass to the owner's heirs upon death according to the terms of their will or according to the laws of intestacy if there is no will. Generally the conveyance of real estate by a deed conveys fee simple absolute. Generally, when we speak of "fee simple" we are referring to fee simple absolute. An undivided interest in property means that two or more persons own the real estate and each has the right to the use and possession of the entire property even if they own only a one-half undivided interest. Each has a 50% interest in the fee.
Read the governing documents to understand the boundaries between what you totally own and what you own in common with all other owners. Often what you own totally i…s defined by 'from the paint in', from the studs in', from the wallboard in' and so forth.
The term "seized and possessed" most often appears in wills in which land and/or property are inherited from one person to another. I means that one legally acquired and o…wns said land and/or property.