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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.
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How are time share undivided interest held?
They are held as a full interest for a specified period of time. For the times you use it, the interest is undivided.
How are condo fees determined using undivided fee simple interest?
Assessments are paid by owners in condominium associations so that the community's operational expenses can be paid.Read your governing documents to determine how individual owners are assessed their share of assessments: allocated interest can be square footage, unit location or other determination.
What term is defined by the combination of leased fee and fee simple ownership?
Fee simple ownership describes the absolute ownership of real property.A leased fee interest describes an ownership interest of a property that is under lease.A "combination" of those two concepts would result in the "leased fee" ownership description.
What is equitable fee simple?
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 property 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.
May an individual gift their partial ownership (undivided interest) to another individual and retain a life estate when they do not own the entire property (other owners have an undivided interest)?
Typically yes
Can one party in an undivided interest gift their share of the interest to another party outside the undivided interest owners?
Yes. You are free to sell you interest to any willing buyer.
When an investor has an undivided interest in the mortgage pool it is commonly referred to as a?
pass through certificate
What is the most comprehensive ownership of the land at law?
In English law, a fee simple (or fee simple absolute) is an estate in land, a form of freehold ownership. It is the way that real estate is owned in common law countries, and is the highest ownership interest possible that can be had in real property. Allodial title is reserved to governments under a civil law structure. Fee simple ownership represents an ownership interest in real property, though it is limited by government powers of taxation, eminent domain, police power, and escheat, and it could also be limited further by certain encumbrances or conditions in the deed. Fee simple ownership interest may be limited by government powers through a shift from allodial title to fee simple, such as when uniting with other property owners acceding to zoning restrictions and municipal regulation.
Ch 13 Schedule A - what is nature of debtor's interest in property?
If it is your residence and you have the right to sell it with or without a mortgage it is "Fee Simple". Other types are Future Interest, Contingent, Lienholder etc.
What is the maximun interest fee ion a pawn loan in CA?
What is the maximun interest fee on a pawn loan in CA?
Argued that the common law doctrine nemo that quod non habet admins of non exception?
This is the doctrine in Property Law that a landholder whether he be the owner of an interest in a freehold or non freehold estate can only transfer the interest that he has. For example, if a landowner owns an interest in fee simple absolute, he can devise, transfer (or his heirs will inherit) his entire estate. On the other hand, if he were to transfer a lesser quantum than his interest in fee simple, for example a life estate, then he would maintain the reversionary interest at the natural termination of that estate.
What is the difference between fee and fee simple?
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.
