Ownership Interests
por Ashley Eileen
1. A person holds ownership interest in property. The interest may refer to an estate or ownership of such land over a time continuum
1.1. Ownership interests are in terms of time and duration. How long and to what extent rights are to an owner based upon time.
1.2. This categorizes ownership over a timeline.
2. Used to require specific wordings to transfer title, Now determined by statute and judicial rules of construction.
2.1. Words of purchase
2.1.1. part or granting clause identifying the grantee
2.2. Words of limitation
2.2.1. Words to describe the type of ownership interest
3. Freehold v. non freehold
3.1. Freehold- Categorized by how the estate will end. Possession of the freehold estate is denoted by sesin
3.2. non freehold last for a fixed period of time
3.2.1. includes periodic tenancy, tenancy at will and leaseholds.