The law recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, bill of sale, will,land grant, etc., through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a "tenant."
Tuesday, January 25, 2011
Real property
The law recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, bill of sale, will,land grant, etc., through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a "tenant."
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