What You Need to Know About Freehold Estates and Property Titles
What kind of estate may last indefinitely?
Freehold estate
Leasehold estate
Estate from year to year
Forever estate
Infinite estate
What is the term that connects a person or organization that owns property to the property itself?
Title
Prospectus
Lease
Deed
Easement
The type of estate that may last indefinitely is the Freehold estate. The term that connects a person or organization that owns property to the property itself is Title. Thus, the answer to the second question is option a.
A freehold estate is an estate in land, also known as an estate of inheritance, where the owner has the right to hold the property indefinitely. The freehold estate is divided into two types:
- Fee simple absolute
- Defeasible fee estate.
The fee simple absolute estate means that the owner has full control over the property, which includes the right to use, lease, or sell it. The defeasible fee estate means that the owner has the property as long as they meet certain conditions, otherwise, the property would revert to the original owner or a third party.
Title is the term that connects a person or organization that owns property to the property itself. It is a legal term that refers to the ownership rights in a property. It serves as evidence that the owner has legal ownership rights over the property. The property title is usually documented in the form of a deed, which is a legal document that contains information about the property, such as the location, size, and boundaries, as well as the name of the owner(s).
So, next time you hear about freehold estates and property titles, remember that freehold estates can last indefinitely, and titles are the legal connections between owners and properties.