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| Property law |
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| Part of the common law series |
| Acquisition of property |
| Gift · Adverse possession · Deed |
| Lost, mislaid, or abandoned |
| Treasure trove |
| Alienation · Bailment · License |
| Estates in land |
| Allodial title · Fee simple · Fee tail |
| Life estate · Defeasible estate |
| Future interest · Concurrent estate |
| Leasehold estate · Condominiums |
| Conveyancing of interests in land |
| Bona fide purchaser |
| Torrens title · Strata title |
| Estoppel by deed · Quitclaim deed |
| Mortgage · Equitable conversion |
| Action to quiet title |
| Limiting control over future use |
| Restraint on alienation |
| Rule against perpetuities |
| Rule in Shelley's Case |
| Doctrine of worthier title |
| Nonpossessory interest in land |
| Easement · Profit |
| Covenant running with the land |
| Equitable servitude |
| Related topics |
| Fixtures · Waste · Partition |
| Riparian water rights |
| Lateral and subjacent support |
| Assignment · Nemo dat |
| Other areas of the common law |
| Contract law · Tort law |
| Wills and trusts |
| Criminal Law · Evidence |
Fee simple is an estate in land in common law. Property law is the area of Law that governs the various forms of Ownership in Real property (land as distinct from personal or movable possessions Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive A gift, in the Law of Property, has a very specific meaning In order for a Gift to be legally effective the grantor must have intended to give the gift In Common law, adverse possession is the process by which title to another's Real property is acquired without compensation, by as the name A deed is a Legal instrument used to grant a Right. Deeds are part of the broader category of documents under seal. In the Common law of Property, personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are A treasure trove may broadly be defined as an amount of gold silver gemstones money jewellery or any valuable collection found hidden underground or in places such as cellars Alienation, in Property law, is the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another Bailment describes a legal relationship in Common law where physical possession of personal Property ( Chattels) is transferred from one person (the The verb license or grant license means to give permission The noun license is the document demonstrating that permission An estate is the Net worth of a person at any point in time It is the sum of a person's Assets - legal rights interests and entitlements to Property of Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned Fee tail or entail is an obsolete term of art in Common law. It describes an estate of Inheritance in Real property which cannot A life estate is a concept used in Common law and Statutory law to designate the ownership of land for the duration of a person's life A defeasible estate is created when a grantor transfers land conditionally 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 A concurrent estate or co-tenancy is a concept in Property law, particularly derived from the Common law of Real property, which describes A condominium, or condo, is a form of Housing tenure and other Real property where a specified part of a piece of real estate (usually of an apartment In law conveyancing is the transfer of title of Property from one person to another or the granting of an Encumbrance such as a Mortgage or A bona fide purchaser ( BFP) referred to more completely as a bona fide purchaser for value without notice is a term used in the Law of Real property Torrens title is a system of land title where a register of land holdings maintained by the state guarantees an indefeasible title to those included in the register Strata title is a form of ownership devised for multi-level apartment blocks. Estoppel by Deed - A doctrine where rules of evidence prevent a litigant from denying the truth of what was said or done A quitclaim deed is a term used to describe a document by which a person (the "grantor" disclaims any interest the Grantor may have in a piece of Real property A mortgage is the pledging of a property to a Lender as a security for a Mortgage loan. Equitable conversion is a doctrine of the Law of Real property under which a purchaser of real property becomes the equitable owner of title to the property at the An action to quiet title is a Lawsuit brought in a Court having Jurisdiction over land disputes in order to establish a party's title to Real property 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 A restraint on alienation, in the Law of Real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling The rule against perpetuities is a rule of law in effect under the property, Trusts, Estate, and Contract law of many Common law The Rule in Shelley's Case is a rule of law that may apply to certain Future interests in Real property and Trusts created in Common law jurisdictions In the Common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to Real estate by descent A nonpossessory interest in land is a term of the Law of Property to describe any of a category of rights held by one person to use land that is in the possession For railroad track easement see Track transition curve. An easement is the right or freedom to do something or the right to prevent Profit, but an entirely different meaning of the term analogous to an Easement. A covenant running with the land, is a Real covenant, in the Law of Real property. An equitable servitude is a term used in the Law of Real property to describe a Nonpossessory interest in land that operates much like a Covenant running In the law of real property fixtures are anything that would otherwise be a Chattel that have by reason of incorporation or affixation become permanently attached to Waste is a term used in the Law of Real property to describe a Cause of action that can be brought in Court to address a change in condition A partition is a term used in the Law of Real property to describe an act by a Court order or otherwise to divide up a Concurrent estate into Riparian Water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source Lateral and subjacent support, in the Law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining An assignment (Latin cessio) is a term used with similar meanings in the Law of Contracts and in the law of Real estate. Nemo dat quod non habet, literally meaning "no one give what one does not have" is a legal rule sometimes called the nemo dat rule that states that the purchase of A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law Tort law is the name given to a body of law that creates and provides remedies for civil wrongs that do not arise out of Contractual duties In Common law, a will or testament is a document by which a person (the Testator) regulates the rights of others over his or her Property The law of trusts and estates is generally considered the body of Law which governs the management of personal affairs and the Disposition of Property of The term criminal law, sometimes called penal law, refers to any of various bodies of rules in different Jurisdictions whose common characteristic is the potential The Law of evidence governs the use of Testimony (eg oral or written statements such as an Affidavit) and exhibits (e An estate is the Net worth of a person at any point in time It is the sum of a person's Assets - legal rights interests and entitlements to Property of Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive It is the most common way real estate is owned in common law countries, and is ordinarily the most complete ownership interest that can be had in real property short of allodial title, which is often reserved for governments. Real estate is a legal term (in some jurisdictions notably in the USA, United Kingdom In the Common law, real property (or realty) refers to one of the two main classes of Property, the other class being Personal property ( Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned Fee simple ownership represents absolute ownership of real property but it is limited by the four basic government powers of taxation, eminent domain, police power, and escheat and could also be limited by certain encumbrances or a condition in the deed. Eminent domain ( United States) compulsory purchase ( United Kingdom, New Zealand, Ireland) resumption/compulsory acquisition Police power is the capacity of a State to Regulate behaviours and enforce order within its Territory, often framed in terms of Public welfare Escheat is a Common law doctrine that operates to ensure that property is not left in limbo and ownerless Encumbrance is a legal Term of art for anything that affects or limits the title of a property such as Mortgages, leases, Easements A deed is a Legal instrument used to grant a Right. Deeds are part of the broader category of documents under seal. How ownership is limited by these government powers often involves the shift from allodial title to fee simple such as when uniting with other property owners acceding to property restrictions or municipal regulation. Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned
Contents |
Common law and history
In English common law theory, the Crown has radical title or the allodium of all land in England, meaning that it is the ultimate "owner" of all land. Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive Throughout the Commonwealth realms The Crown is an abstract metonymic concept which represents the legal authority for the existence of any government Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned However, the Crown can grant an abstract entity—called an estate in land—which is what is owned. For other uses see Abstract In Philosophy it is commonly considered that every object is either abstract or concrete An estate is the Net worth of a person at any point in time It is the sum of a person's Assets - legal rights interests and entitlements to Property of The fee simple estate is also called "estate in fee simple" or "fee-simple title" and sometimes simply freehold in England and Wales. In the early Norman period, the holder of an estate in fee simple could not sell it, but instead could grant subordinate fee simple estates to third parties in the same parcel of land, a process known as "subinfeudation. Norman dynasty is the usual designation for the English monarchs which immediately followed the Norman conquest and lasted until the Plantagenet dynasty Subinfeudation, in English law, is the practice by which Tenants holding land under the king or other superior lord carved out in their turn by sub-letting or alienating " The Statute of Quia Emptores adopted in 1290 abolished subinfeudation and instead allowed the sale of fee simple estates. A statute is a formal written enactment of a Legislative authority that governs a Country, State, City, or County. Quia Emptores ( Medieval Latin for "because the buyers" the Incipit of the document was a Statute passed by Edward I of England [1]
The concept of a "fee" has its origins in feudalism. Feudalism, a term first used in the early modern period (17th century in its most classic sense refers to a Medieval Europe Political system composed According to William Blackstone, the great common law commentator, fee simple is the estate in land that a person has when the lands are given to him and his heirs absolutely, without any end or limit put to his estate. Sir William Blackstone (originally pronounced Blexstun ( 10 July 1723 &ndash 14 February 1780) was an English Jurist and Land held in fee simple can be conveyed to whomsoever its owner pleases; it can be mortgaged or put up as security as well. A mortgage is the pledging of a property to a Lender as a security for a Mortgage loan. [2] The owner(s) of real property in fee simple title have the right to own the property during their lifetime and typically have a say in determining who gets to own the property after their death. In the Common law, real property (or realty) refers to one of the two main classes of Property, the other class being Personal property ( In a sense, one might say fee simple owners "own" the property "forever"; however, holders of an allodial title on land really do own the land forever, and the land is not subject to property tax.
Historically, estates could be limited in time, such as a life estate, which is an interest in lands that terminates upon the grantee's (or another person's) death, even if the land had been granted to a third party, or a term of years (a lease for a specified term, such as in an estate for years). A life estate is a concept used in Common law and Statutory law to designate the ownership of land for the duration of a person's life Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time It also could be limited in the way that it was inherited, such as by what was called an "entailment" which created a fee tail. Fee tail or entail is an obsolete term of art in Common law. It describes an estate of Inheritance in Real property which cannot Traditionally, fee tail was created by words of grant such as "to N. and the male heirs of his body", which would restrict those who could inherit the property. When all those heirs ran out the property would revert to the original grantor's heirs. Most common law countries have abolished entailment by statute.
Life estate
Many common law jurisdictions retain the possibility of creating a life estate, although this is uncommon. A life estate is a concept used in Common law and Statutory law to designate the ownership of land for the duration of a person's life In the U. S. , life estates are most commonly used in the context of either giving a right to someone in a will to use property for the remainder of that person's (or another person's) life, or reserving to a grantor who is selling property the right to continue using the property for the remainder of his/her life. The right to ownership after the death of the subject person would be called the remainder estate. In England and Wales fee simple is the only freehold estate that remains and a life estate can only be created in equity. Equity is the name given to the set of legal principles in jurisdictions following the English common law tradition which supplement strict rules of law where
Types of fee simple
If previous grantors of a fee simple estate do not create any conditions for subsequent grantees to own the conveyed property in fee simple title, which is commonly the case these days, then the title is called fee simple absolute. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable) estates. A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed). A deed is a Legal instrument used to grant a Right. Deeds are part of the broader category of documents under seal. Upon the happening of a specified event, the estate may become void or subject to annulment. Two types of defeasible estates are the fee simple determinable and the fee simple subject to a condition subsequent. If the grantor uses durational language in the condition such as "to A as long as the land is used for a park" then upon the happening of the specified event, the estate will automatically terminate and revert to the grantor or the grantor's estate; this is called a fee simple determinable. If the grantor uses language such as "but if alcohol is served" then the grantor or the heirs have a right of entry, but the estate does not automatically revert to the grantor; this is a fee simple subject to a condition subsequent. In the United States many of these concepts have been modified by statute in some states.
Rent
It is often said that no rent or similar obligations are due from the owner of property in fee simple. Lease Renting is an agreement where a payment is made for the temporary That is only partially true. For example a rentcharge may exist requiring a freeholder to pay a fixed sum of money closely resembling rent, and many jurisdictions have created financial obligations that may be imposed on a freehold estate, for example in England and Wales, the estate charge. A rentcharge is an annual sum paid by the owner of freehold land to a person who has no other legal interest in the land In the United States, fee simple owners are subject to property tax and its funds directed to the municipality's general fund. The United States of America —commonly referred to as the Property tax, or millage tax, is an Ad valorem tax that an owner pays on the value of the property being taxed Other local tax assessments called "specials" may be assessed in addition to the property tax to be applied to specific purposes such as road and water/sewer improvements. Real estate owned as a condominium is usually similarly owned in fee simple, but typically subject to rules in the declaration of condominium or created by the condominium association, such as paying required monthly fees for maintaining the property's common areas. A condominium, or condo, is a form of Housing tenure and other Real property where a specified part of a piece of real estate (usually of an apartment
Etymology
Fee - A right in law to the use of land; i. e. a fief. Under the system of Feudalism, a fiefdom, fief, feud, feoff, or fee, often consisted of inheritable lands or revenue-producing Simple - in the unconstrained sense:
- without limit to the inheritance of heirs;
- unrestricted as to transfer of ownership.
See also
Notes
- ^ Henderson, Ernest F. Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned Leasehold is a form of property tenure where one party buys the right to occupy land or a building for a given length of time A life estate is a concept used in Common law and Statutory law to designate the ownership of land for the duration of a person's life Quia Emptores ( Medieval Latin for "because the buyers" the Incipit of the document was a Statute passed by Edward I of England Fee tail or entail is an obsolete term of art in Common law. It describes an estate of Inheritance in Real property which cannot Select Historical Documents of the Middle Ages, (London: George Bell and Sons, 1910), 149-150. Excerpt retrieved 2007-10-31.
- ^ Property: Examples and Explanations, B. Barlow Burke
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