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As a lease is a legal estate, leasehold estate can be bought and sold on the open market. A leasehold thus differs from a freehold or fee simple where the ownership of a property is purchased outright and after that held for an indeterminate length of time, and also differs from a tenancy where a property is let (rented) periodically such as ...
Leasehold: An estate of limited term, as set out in a contract, called a lease, between the party granted the leasehold, called the lessee, and another party, called the lessor, having a longer estate in the property. For example, an apartment-dweller with a one-year lease has a leasehold estate in her apartment.
A profit (short for profit-à-prendre in Middle French for "advantage or benefit for the taking"), in the law of real property, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. [1]
Electrical power line easement. Telephone line easement. Fuel gas pipe easement. Sidewalk easement. Usually sidewalks are in the public right-of-way. View easement. Prevents someone from blocking the view of the easement owner, or permits the owner to cut the blocking vegetation on the land of another. Driveway easement, also known as easement ...
The law regarding fixtures can also cause many problems with property held under a lease. Fixtures put in place by the tenant belong to the landlord if the tenant is evicted from the property. This is the case even if the fixture could have legally been removed by the tenant while the lease was in good standing.
The two largest takings in terms of percentage of total property area will affect two small residential properties. On one, the city plans to put an easement on 785 square feet of a 6,000-square ...
The $50,000 that petitioner received from the City -- for a right of way and an easement on taxpayer's land, and releasing the city from all claims and demands, etc. -- was lost (present) capital rather than lost (future) profits; i.e. it should be chargeable to the capital account for land, rather than treated as taxable income under I.R.C ...
Native trees at 12 inch DSH including Coast, Interior, Valley and Blue Oaks; California Sycamores; and California Buckeyes. Trees at 32 inch DSH within the property of a single family home or duplex.
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