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wait what is nusl? northeastern?
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Simple English definitions for legal terms
estate in freehold
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A quick definition of estate in freehold:
An estate in freehold is a type of ownership of land or property. It means that the owner has full possession of the property and can keep it for as long as they want. There are different types of freehold estates, such as fee simple, fee tail, or for term of life. This type of ownership is different from leasehold, where the owner only has the right to use the property for a limited time. In the past, people used to create perpetual freeholds, which meant that the property would stay in the family forever. However, this is no longer allowed.
A more thorough explanation:
An estate in freehold is a type of real-property interest that can be possessed by an individual. It is held in fee simple, in fee tail, or for a term of life. This type of estate is created by enfeoffment with livery of seisin, according to common law.
For example, if John owns a piece of land in fee simple, he has an estate in freehold. This means that he has complete ownership of the land and can possess it for an indefinite period.
There are different types of freehold estates, such as:
- Determinable freehold: This is an estate that can be terminated if a specific condition is met. For instance, if John grants land to Mary for as long as she remains unmarried, the estate will terminate if Mary gets married.
- Movable freehold: This refers to the land that a seashore owner acquires or loses as water recedes or approaches.
- Perpetual freehold: This is an estate given to a grantee for life, and then successively to the grantee's heirs for life. The purpose of this type of freehold was to keep land within a family in perpetuity.
Overall, an estate in freehold is a type of real-property interest that provides the owner with complete ownership and possession of the land for an indefinite period.