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Simple English definitions for legal terms

base fee

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A quick definition of base fee:

Base fee: The base fee is a type of ownership where the owner has complete control over the property. It is a fee simple determinable under fee simple. This means that the owner has the right to use, sell, or transfer the property as they wish.

A more thorough explanation:

Definition: Base fee refers to a type of ownership in real estate where the owner has a fee simple determinable under fee simple. This means that the owner has the right to use and enjoy the property as long as certain conditions are met.

Example: A university may own a piece of land and grant a base fee to a developer to build a shopping center on the property. The developer has the right to use and enjoy the property as long as the shopping center is in operation. If the shopping center closes, the ownership of the property reverts back to the university.

Explanation: The example illustrates how a base fee works in real estate. The developer has the right to use and enjoy the property as long as the shopping center is in operation, which is the condition set by the university. If the condition is not met, the ownership of the property reverts back to the university. This type of ownership is often used in commercial real estate transactions where a property owner wants to retain some control over the use of the property.

based on | Basel Convention

General

General chat about the legal profession.

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[] texaslawhopefully

11:33

I was at the first like 9/27

[] texaslawhopefully

11:33

@soyalmondoatmilk: yep!

starfishies

11:33

I also just got to UR2 woo but I applied like 11/1

soyalmondoatmilk

11:33

omg so cool! i want to work in texas too!

[] texaslawhopefully

11:34

Are you from Texas?

WorthlessAttractiveZombie

11:34

Mine was like UR1 9/25, UR2 9/26, UR3 10/15...then radio silence

soyalmondoatmilk

11:34

yes!

starfishies

11:34

yeah i expect silence until like march lmao as a best case scenario if they get back sooner imma assume its an R

soyalmondoatmilk

11:34

i wanna give back to my community

[] texaslawhopefully

11:35

@WorthlessAttractiveZombie: yeah, I probably shouldn’t get my hopes up lol

starfishies

11:35

it was just nice to see some life in my status checker

WorthlessAttractiveZombie

11:35

texas, you probably dont need to worry, you will be fine lol

[] texaslawhopefully

11:36

Yeah, it’s just odd. All the people with similar stats who applied in sept already got in

triplethread

11:36

@snow: its so frustrating LOL i will be back in a few days just so im not checking every day with no movement. i think if i come back in after a little break and get some URs I will be happier

triplethread

11:37

i will see you guys next week

soap

11:39

I'm looking at profiles of people working at unicorn PI firms, and boy, do I feel behind in life XD

HopefullyInLawSchool

11:44

Salutations on this brisk morning from Santa Barbara

babycat

11:48

I met a public defender the other day who told me she was the only one of her classmates who didn't end up changing careers and it's bc she loves her job

snow

11:50

criminal defense is where its at

starfishies

11:50

i fully expect to change my career again but i think its just cause i dont like any jobs lol

starfishies

11:51

teaching is not it guys

babycat

11:55

I used to sub teach and it was pretty fun but I was always in elementary school

babycat

11:56

high school seems crazy

jackfrost11770

12:00

if teachers made any money i'd be teacher i like working with kids but also w the way the education system is now it's so disincentivizing (also you're broke)

jackfrost11770

12:00

high schoolers genuinely can't write like. physically pen on paper it's so bad

jackfrost11770

12:00

i was a TA and it was genuinely insane any sense of like manners or how to act in an academic setting has gone down the drain

HopefullyInLawSchool

12:02

Im a leader for a youth group and seeing how parents act I could only imagine being a teacher

BulbasaurNoLikeCardio

12:03

I loved my last job, current job is okay but super boring and no meaning. Law should be pretty chill

JumpySubsequentDolphin

12:03

i used to work w kids and one time one of them asked me if I could tell them what the n word is

HopefullyInLawSchool

12:04

The kids around me will say brainrot

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