Estate in land

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An estate in land is an interest in real property that is or may become possessory.

Real property legal term; property consisting of land and the buildings on it

In English common law, real property, real estate, realty, or immovable property is land which is the property of some person and all structures integrated with or affixed to the land, including crops, buildings, machinery, wells, dams, ponds, mines, canals, and roads, among other things. The term is historic, arising from the now-discontinued form of action, which distinguished between real property disputes and personal property disputes. Personal property was, and continues to be, all property that is not real property.

In legal usage, Possessory forms several compounds.

In the legal systems of almost every country, the ultimate true "owner" of all land is the sovereign,[ citation needed ] which for a republic is the whole people of a society, [ citation needed ] which with sovereign, exclusive control over a well-defined tract of land, may be called a "state". Private parties own not the underlying land, but claims on parcels of land, which taken together define the estate for that parcel. This superior ownership is the basis for taking the land through eminent domain. However, the claims that define the estate are themselves personal property.

Society group of people related to each other through persistent relations

A society is a group of individuals involved in persistent social interaction, or a large social group sharing the same geographical or social territory, typically subject to the same political authority and dominant cultural expectations. Societies are characterized by patterns of relationships between individuals who share a distinctive culture and institutions; a given society may be described as the sum total of such relationships among its constituent of members. In the social sciences, a larger society often exhibits stratification or dominance patterns in subgroups.

Sovereign state political organization with a centralized independent government

In international law, a sovereign state, sovereign country, or simply state, is a nonphysical juridical entity that is represented by one centralized government that has sovereignty over a geographic area. International law defines sovereign states as having a permanent population, defined territory, one government, and the capacity to enter into relations with other sovereign states. It is also normally understood that a sovereign state is neither dependent on nor subjected to any other power or state.

This should be distinguished from an "estate" as used in reference to an area of land, and "estate" as used to refer to property in general.

Historically, an estate comprises the houses, outbuildings, supporting farmland, and woods that surround the gardens and grounds of a very large property, such as a country house or mansion. It is the modern term for a manor, but lacks a manor's now-abolished jurisdictional authority. It is an "estate" because the profits from its produce and rents are sufficient to support the household in the house at its center, formerly known as the manor house. Thus, "the estate" may refer to all other cottages and villages in the same ownership as the mansion itself, covering more than one former manor. Examples of such great estates are Woburn Abbey in Bedfordshire, England, and Blenheim Palace, in Oxfordshire, England, built to replace the former manor house of Woodstock.

In property law, the rights and interests associated with an estate in land may be conceptually understood as a "bundle of rights" because of the potential for different parties having different interests in the same real property.

The bundle of rights is a metaphor to explain the complexities of property ownership. Law school professors of introductory property law courses frequently use this conceptualization to describe "full" property ownership as a partition of various entitlements of different stakeholders.

Categories of estates

Estates in land can be divided into four basic categories:

  1. Freehold estates : rights of conveyable exclusive possession and use, having immobility and indeterminate duration
    • fee simple
      • fee simple absolutemost rights, least limitations, indefeasible
    • defeasible estate voidable possession and use
      • fee simple determinable
      • fee simple subject to a condition subsequent
      • fee simple subject to executory limitation
    • finite estatelimited to lifetimes
      • life estate fragmented possession and use for duration of someone's life
      • fee tail inalienable rights of inheritance for duration of family line

    In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. It is a way that real estate and land may be owned in common law countries, and is the highest possible ownership interest that can be held in real property. Allodial title is reserved to governments under a civil law structure. The rights of the fee simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and it could also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional.

    A defeasible estate is created when a grantor transfers land conditionally. Upon the happening of the event or condition stated by the grantor, the transfer may be void or at least subject to annulment. Historically, the common law has frowned on the use of defeasible estates as it interferes with the owners' enjoyment of their property and as such has made it difficult to create a valid future interest. Unless a defeasible estate is clearly intended, modern courts will construe the language against this type of estate. Three types of defeasible estates are the fee simple determinable, fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent.

    In common law and statutory law, a life estate is the ownership of land for the duration of a person's life. In legal terms, it is an estate in real property that ends at death when ownership of the property may revert to the original owner, or it may pass to another person. The owner of a life estate is called a "life tenant".

  2. Leasehold estates : rights of possession and use but not ownership. The lessor (owner/landlord) gives this right to the lessee (tenant). There are four categories of leasehold estates:
    1. estate for years (a term of year absolute or tenancy for years)lease of any length with specific begin and end date
    2. periodic estate (periodic tenancy)automatically renewing lease (month to month, week to week)
    3. estate at will (tenancy at will)leasehold for no fixed time or period. It lasts as long as both parties desire. Termination is bilateral (either party may terminate at any time) or by operation of law.
    4. tenancy at sufferancecreated when tenant remains after lease expires and becomes a holdover tenant, converts to holdover tenancy upon landlord acceptance.
  3. Concurrent estates: owned or possessed by two or more individuals simultaneously.
    1. tenancy by the entirety
    2. joint tenancy
    3. tenancy in common
    4. statutory estates : created by law
  4. Equitable estates : neither ownership nor possession
    • Future interests — interests in real or personal property, a gift or trust, or other things in which the privilege of possession or of enjoyment is in the future and not the present
      • reversions
      • possibilities of reverter
      • powers of termination, also known as rights of reentry for condition broken
      • remainders
      • executory interests
    • Incorporeal interests — those that cannot be possessed physically, since they consist of rights of a particular user, or the right to enforce an agreement concerning use
    • Lien
      • general
      • specific

Related Research Articles

Property law is the area of law that governs the various forms of ownership and tenancy in real property and in personal property, within the common law legal system. In the civil law system, there is a division between movable and immovable property. Movable property roughly corresponds to personal property, while immovable property corresponds to real estate or real property, and the associated rights, and obligations thereon.

In property law, a title is a bundle of rights in a piece of property in which a party may own either a legal interest or equitable interest. The rights in the bundle may be separated and held by different parties. It may also refer to a formal document, such as a deed, that serves as evidence of ownership. Conveyance of the document may be required in order to transfer ownership in the property to another person. Title is distinct from possession, a right that often accompanies ownership but is not necessarily sufficient to prove it. In many cases, possession and title may each be transferred independently of the other. For real property, land registration and recording provide public notice of ownership information.

This aims to be a complete list of the articles on real estate.

Landlord Owner of a rented building, land or real estate

A landlord is the owner of a house, apartment, condominium, land or real estate which is rented or leased to an individual or business, who is called a tenant. When a juristic person is in this position, the term landlord is used. Other terms include lessor and owner. The term landlady may be used for female owners, and lessor may be used regardless of gender. The manager of a UK pub, strictly speaking a licensed victualler, is referred to as the landlord/lady.

Lease business contract between two parties, the lessor (owner) and lessee (user), for use of property

A lease is a contractual arrangement calling for the lessee (user) to pay the lessor (owner) for use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment is also leased.

A leasehold estate is an ownership of a temporary right to hold land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord. Although a tenant does hold rights to real property, a leasehold estate is typically considered personal property.

In common law systems, land tenure is the legal regime in which land is owned by an individual, who is said to "hold" the land. It determines who can use land, for how long, and under what conditions. Tenure may be based both on official laws and policies, and on informal customs. The French verb "tenir" means "to hold" and "tenant" is the present participle of "tenir". The sovereign monarch, known as The Crown, held land in its own right. All private owners are either its tenants or sub-tenants. Tenure signifies the relationship between tenant and lord, not the relationship between tenant and land. Over history, many different forms of land ownership, i.e., ways of owning land, have been established.

The four unities is a concept in the common law of real property describing conditions that must exist in order for certain kinds of property interests to be created. Specifically, these four unities must be met in order for two or more people to own property as joint tenants with right of survivorship, or for a married couple to own property as tenants by the entirety. Some jurisdictions may require additional unities.

A profit, 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. Indeed, because of the necessity of allowing access to the land so that resources may be gathered, every profit contains an implied easement for the owner of the profit to enter the other party's land for the purpose of collecting the resources permitted by the profit.

A covenant in its most general sense and historical sense, is a solemn promise to engage in or refrain from a specified action. Under historical English common law a covenant was distinguished from an ordinary contract by the presence of a seal. Because the presence of a seal indicated an unusual solemnity in the promises made in a covenant, the common law would enforce a covenant even in the absence of consideration. In United States contract law, an implied covenant of good faith is presumed.

Land Registration Act 2002

The Land Registration Act 2002 is an Act of the Parliament of the United Kingdom which repealed and replaced previous legislation governing land registration, in particular the Land Registration Act 1925, which governed an earlier, though similar, system. The Act, together with the Land Registration Rules, regulates the role and practice of HM Land Registry.

A servitude is a qualified beneficial interest severed or fragmented from the ownership of an inferior property and attached to a superior property or to some person other than the owner. At civil law, ownership (dominium) is the only full real right whereas a servitude is a subordinate real right on par with wayleaves, real burdens, security interests, and reservations. There are two types: predial, attaching to property, and personal, attaching to a person.

In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common example is the landlord-tenant relationship. The landlord may own a house, but has no general right to enter it while it is being rented. The conditions triggering the transfer of possession, first to the tenant then back to the landlord, are usually detailed in a lease.

A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum that he has. Once the lesser estate comes to an end, the property automatically reverts back to the grantor.

An easement is a nonpossessory right to use and/or enter onto the real property of another without possessing it. It is "best typified in the right of way which one landowner, A, may enjoy over the land of another, B". It is similar to real covenants and equitable servitudes; in the United States, the Restatement (Third) of Property takes steps to merge these concepts as servitudes.

English land law Law of real property in England and Wales

English land law is the law of real property in England and Wales. Because of its heavy historical and social significance, land is usually seen as the most important part of English property law. Ownership of land has its roots in the Anglo-Saxon system of Bookland and in the Anglo-Saxon multiple estate, a feudal system transformed by William the Conqueror and his influx of many new chief landlords after 1066. The modern law's sources derive from the old courts of common law and equity which includes legislation such as the Law of Property Act 1925, the Settled Land Act 1925, the Land Charges Act 1972, the Trusts of Land and Appointment of Trustees Act 1996 and the Land Registration Act 2002, and the European Convention on Human Rights. At its core, English land law involves the acquisition, content and priority of rights and obligations among people with interests in land. Having a property right in land, as opposed to a contractual or some other personal right, matters because it creates privileges over other people's claims, particularly if the land is sold on, the possessor goes insolvent, or when claiming various remedies, like specific performance, in court. Capital taxation, the industrial revolution and reform of the established church has resulted in a shift from predominant ownership by the church and landed gentry to largely agricultural, minority aristocratic ownership. This means today sites for development belong to a complex web of owners able meet market demand-side forces for development, tempered by supply-side forces including the values enshrined in public planning policy to protect green spaces and promote sustainable, locally diverse and socially useful development of land.

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