________: The person who receives the transfer of an interest in property from someone else.
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Estate
________: The "status "in the property.
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Fee
________: The person who had a right to possess the land had a(n) ________.
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Fee Simple
________: The most comprehensive estate the law allows.
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Grantor
The person who holds an interest in property and then transfers it to someone else
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Grantee
The person who receives the transfer of an interest in property from someone else
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Estate
The "status" in the property
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Fee
The person who had a right to possess the land had a fee
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Future Interest
Estates that were not possessory were in the nature of future interests, which means that the person holding the estate acquires in the present the right to possess sometime in the future
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Reversion
The most common form of future estate kept by the grantor, keeping some interest that limits the scope of the fee given to the grantee
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Remainder
The remainder is like a reversion, except that it is given to a grantee, a third party who was not (or need not have been) the prior holder of the fee
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Flashcard (21)