[+]
| A man without a smiling face must not open a shop. - Chinese proverb |
| Property Vocabulary |
| Legal Enviroment of Buisness - Daily Assignments |
|
Vocabulary
Personal Property/Real Property
Define words in blue:
forms of co-ownership of property
limitations on property ownership
major estates in real property
Freehold estates: rights of ownership
fee simple
fee tail
conditional fee
life estate
Leasehold estates: rights of possession and use but not ownership. The owner/landlord gives this right to the tenant
leases: gross lease, net lease, percentage lease
Statutory estates: created by law
community property
homestead
dower
curtesy
tenancy by entirety
Equitable estates: neither ownership nor possession
|
