LEGAL ESTATES Flashcards by Abigail Xox

Q

The two legal estates

A

Fee simple absolute in possession (Freehold)
Terms of years absolute in possession (Leasehold)

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Q

Fee simple absolute in possession

A

(Freehold) the most complete form of ownership- capable of lasting indefinetely

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Q

Terms of years absolute

A

(leasehold) ownership for a fixed term- with exclusive possession

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