What are the differences between fee simple and fee tail?
What are the differences between fee simple and fee tail?
A fee simple interest that can be terminated at the will of a future interest holder upon the occurrence or non-occurrence of an event or condition. Fee tail: An interest in land that is inheritable by and transferable to only lineal descendants of the original grantee.
What is fee tail?
In English common law, fee tail or entail is a form of trust established by deed or settlement which restricts the sale or inheritance of an estate in real property and prevents the property from being sold, devised by will, or otherwise alienated by the tenant-in-possession, and instead causes it to pass automatically …
What is a fee interest?
A fee interest is the legal possession of both the surface and mineral rights for a property. The owner of a fee interest may choose to sell the surface rights, but retain the mineral rights – or vice versa. An oil and gas firm does not usually acquire a fee interest.
What does registered owner in fee simple mean?
Fee simple estate. The highest estate allowed by law. An inheritable ownership interest of indefinite duration. Under the proposed definition, fee simple estate would refer to the duration of a possessory right, not to which interests may or may not encumber that estate.
What is a freehold tenant?
Freehold: Outright ownership of the property and land on which it stands. A freehold estate in land (as opposed to a leasehold) is where the owner of the land has no time limit to his period of ownership. The lease length may be extended by agreement with the Freeholder at a specified cost.
How many years is a good leasehold?
80 years
What happens if landlord sells freehold?
If a landlord sells an interest in the freehold which should have been subject to RFR, more than 50% of the qualifying tenants have the right to serve an “information notice” on the new freeholder requesting details of the terms of the sale. The new freeholder is required to provide this within one month.
