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The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the ...
Most property ownership in common law jurisdictions is fee simple. In the United States, the land is subject to eminent domain by federal, state and local government, and subject to the imposition of taxes by state and/or local governments, and there is thus no true allodial land.
Fee simple ownership is the absolute ownership of real property, in which the owner holds unconditional power over the land, as well as any improvements -- including buildings -- that sit on it ...
Freehold ("More permanent") conveyances of real estate are covered by real estate contracts, including conveying fee simple title, life estates, remainder estates, and freehold easements. Real estate contracts are typically bilateral contracts (i.e., agreed to by two parties) and should have the legal requirements specified by contract law in ...
Initially, the concept of a condominium was introduced by the Federal Law "On the Fundamentals of the Federal Housing Policy" No. 4218-1 dated December 24, 1992: "Condominium is an association of owners of residential premises in apartment buildings with the establishment of conditions for joint ownership and use of inter-apartment stairs ...
A fee simple determinable is an estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor. Normally, a possibility of reverter follows a fee simple determinable. However, a possibility of reverter does not follow a fee simple determinable subject to an ...
Some people trying to buy a condominium in South Florida but getting mysteriously rejected for a mortgage could be in for a jolt: The reason they can’t get a loan may be that the condo is on a ...
A person purchasing a unit title purchases a principal unit, which is designed as a place of business or residence; [6] any accessory units included in the title for the principal unit, such as car parks and storage lockers; [7] [8] and a beneficial interest in the common property, such as corridors, air ducts, building structure and entry ways ...