Search results
Results from the WOW.Com Content Network
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
Michael visits Hawk in jail and forgives him but says he feels safer living with his grandfather. As a condition of charges being dropped, Hawk is obliged to sign over custody of Michael to Cutler. Hawk leaves to compete in the World Armwrestling Championship in Las Vegas, hoping to start his own trucking company with the prize money. Most ...
The right to ownership of the property after the death of the life estate owner is called the remainder estate. In England and Wales fee simple is the only freehold estate that remains; a life estate can only be created in equity and is not a right in property.
The allodial or fee simple interest is the most complete ownership that one can have of property in the common law system. An estate can be an estate for years, an estate at will, a life estate (extinguishing at the death of the holder), an estate pur autre vie (a life interest for the life of another person) or a fee tail estate (to the heirs ...
A life interest [1] (or life rent in Scotland) is a form of right, usually under a trust, that lasts only for the lifetime of the person benefiting from that right. A person with a life interest is known as a life tenant. A life interest ends when the life tenant dies. An interest in possession trust is the most common example of a life ...
In many usufructuary property systems, such as the traditional ejido system in Mexico, individuals or groups may only acquire the usufruct of the property, not legal ownership. [5] A usufruct is directly equatable to a common-law life estate except that a usufruct can be granted for a term shorter than the holder's lifetime.
"The hawk is a magnificent bird, soaring up on the warm air currents and rising above to gain a perspective over the whole landscape," he describes. "It delights me every time I see a hawk."
A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant has rights of real property by some form of title from a lessor or landlord. [1] Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property .