| One of the tests of leadership is the ability to recognize a problem before it becomes an emergency. - Arnold Glasgow |
| Property Law Vocabulary |
| 1st Semester Legal Enviroment of Buisness - Daily Assignments |
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Property Law Vocabulary
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
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