1.2 Interests & Estates in Land - Vocabulary Flashcards

Vocabulary flashcards covering key terms and definitions related to interests and estates in land as presented in the notes.

Interests and Estates in Land

All legal rights to real property, including possessory and non-possessory interests.

Possession (Possessory)

An estate that includes the right to occupy and use the land.

Non-possessory (Non-possessory)

Interests in land that do not include possession, such as encumbrances, easements, covenants, or public interests.

Estate in land

Any interest in real property, whether or not it includes possession.

Private encumbrance

A private burden on land (e.g., lien, mortgage, easement, covenant) that affects use or transfer.

Public interest

A government or public authority interest in land use, regulation, or welfare.

Freehold

An ownership interest with indefinite duration; not time-limited.

Leasehold

A possessory interest in land created by a lease for a limited duration.

Fee simple

The broadest form of real estate ownership; unlimited duration and freely transferable.

Fee simple absolute

The highest form of ownership with no conditions or future interests limiting it.

Estate for years

A leasehold with a definite start and end date; ends automatically at term end.

Periodic tenancy

A leasehold that automatically renews for successive periods until terminated.

Defeasible

An estate that may end or revert upon a condition being violated.

Estate at will

A tenancy of indefinite duration that can be terminated by either party with notice.

Estate at sufferance

Holdover tenancy after expiration of a term, without the landlord’s consent.

Life estate (conventional)

A life estate created by agreement, measured by the life of a named person.

Life estate (legal)

A life estate created by operation of law to protect family survivors.

Homestead

Rights to one’s principal residence; protected from certain creditors; occupancy required; generally cannot be conveyed by one spouse; endures for the head of household; ends if the property is destroyed.

Remainder

A future interest that takes effect after the termination of a prior estate.

Remainderman

The person who will receive the property after the life estate ends.

Reversion

A future interest retained by the grantor when the estate ends.

Pur autre vie

A life estate measured by the life of another person; ends when that person dies and passes to a remainderman or grantor.

Ordinary life estate

A life estate measured by the life of the life tenant (as opposed to a measuring life).