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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 ...
In modern English land law, the theory of such long historical chains of title still exists for every holding in fee simple, although for practical purposes it is not necessary at the time of conveyance to recite the descent of the fee from its creation. By the early 20th century it had become traditional to show the chain of former owners for ...
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.
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In such a fee, the future interest is called a "right of reentry" or "right of entry." There, the fee simple subject to condition subsequent does not end automatically upon the happening of the condition, but if the specified future event occurs, the grantor has a right to retake his property (as opposed to it reverting to him automatically).
Perhaps the ultimate restraint on alienation was the fee tail, a form of ownership which required that property be passed down in the same family from generation to generation, which has also been widely abolished. [1] However, certain reasonable restraints will be given effect in most jurisdictions. These traditionally include:
The opposite is true for products that require you to pay interest, like loans and credit cards. Fixed rates are beneficial when you need to borrow money and the Fed rate is low.
Legal interest rate – the opposite of Usury; Lenders mortgage insurance; Lessee; Lessor; Leverage; Levy – a fine as penalty, seizure of debtor's property after judgment, financial charge such as tax; Licensee; Lien; Lienee – property owner who grants the lien; Lienor – person who benefit from the lien; Lien holder – person who benefit ...