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What is fee ownership?
Fee simple is the highest form of property ownership. The fee owner has the right to the use and possession of the property and the right to devise it by Will. If the owner dies without a Will the heirs inherit under the laws of intestacy.
What type of real estate ownership is the most all-inclusive?
Ownership in fee simple is the highest form of real property ownership.
What is the meaning of tenants in common and how does it impact property ownership?
Tenants in common is a form of property ownership where two or more individuals each own a separate and distinct share of the property. Each owner has the right to use and occupy the property, and their share can be passed on to their heirs. This arrangement allows for flexibility in ownership and can impact property ownership by allowing for unequal ownership shares and the ability to sell or transfer individual shares independently.
What are the two principles that form the basis for capitalism?
The two principles that form the basis for capitalism are private ownership of property and the free market system.
What type of forms can be used for proof of ownerships?
You did not specify the type of property. Proof of ownership of real property is in the form of a deed that must be recorded in the land records. Ownership of cars, trucks and motorcycles is evidenced by the Certificate of Title that must be obtained through the DMV. For some background on proof of ownership for other types of property you can browse through a survey of ownership in New York at the link below.
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.
Your dad died and now your mom is joint property owner of a home and acres can she will her part to her grandkids?
Short answer - Yes. Of course, this is dependent on the form of joint ownership, and the details of the ownership agreement.
Can a freehold estate be passed on from generation to generation?
Yes, a freehold estate can be passed on from generation to generation through inheritance or conveyance. This type of estate provides the highest form of ownership interest in real property, allowing it to be passed down to heirs or sold to others.
What classifies a timeshare?
Is a form of ownership which allows you to use a property without neccesarily occupying the property at all times. Multiple parties might hold rights to a timeshare and are divied up by alotting certain time periods for use per owner. Timeshares may also be on a part-ownership or lease/"right to use" basis, in which the sharer holds no claim to ownership of the property.
If there is a battle over ownership of a mobile home can i get insurance on my personal belongings without the current owners permission?
A Tenant's form will cover you own property and liability regardless of the ownership on the premises. It will not provide any coverage on the mobile home or liability as owner of that property.
Is condominium unit considered real property?
Yes. A condominium is real property and is an estate owned in fee: The owner can sell it, leave it to a beneficiary in his/her will or the property will descend to their heirs at law if they die without a will. Fee simple is the maximum form of real property ownership. Generally, a condominium project is a form of fee ownership by which several owners share ownership of a building(s) by each owning their respective units. In addition to their unit, each owns a proportionate interest in the land that forms the condominium property and common areas of the condominium.
If you are the secondary owner of a single family house with someone is there a way to remove yourself from the ownership without any problems?
A Quit Claim deed will do the trick. Simple form and the cost is registration with the property office. A Quit Claim literally means that you are quitting your claims on a piece of property.Single ownership is when only one person owns the business and they make all of the decisions.
