Present Estates

In: Other Topics

Submitted By Gmain
Words 495
Pages 2
A. THE PRESENT ESTATES

(1) Fee Simple Absolute
• Future Estate: None
• Language Creating FSA: (a) to “A and his heirs (b) to “A, his heirs and assigns” (c) to “A”
• Duration: Unlimited
• Transferability: By deed, will or intestacy
• FSA is form of undivided ownership
• It is unlimited in duration
• Words of purchase: words of conveyance “A”
• Words of limitations: words that describe or limit the estate which is transferred “to his hears”; also designate something less than FSA “to A for life”
• The owner A can transfer himself does not need his hears to join him to convey
• The statute usually provides that any conveyance will be presumed to pass entire estate (FSA) to the grantor unless the contrary intent is expressed in document

Meaning of “words of purchase”
• Does not necessary mean A bought the land it could be gift, inheritance etc
Meaning of “heirs”
• Has a technical meaning, descendents of a person who died intestate
• Living person does not have heirs, can have presumptive heirs
Meaning of “words of inheritance”
• “and his heirs” are not only words of limitation but also words of inheritance
• They describe inheritable estate which does not end with the holder’s death like in life estate

• FSA holder has the largest estate know to law
• The grantees enjoyment of the estate may be encumbered by interests in land by mortgage, private nuisance etc, government may restrict use of land in manner that would jeopardize health, safety etc.

(2) Defeasible Fee Estate
• Owner of FSA can transfer an estate in fees simple and still keep his strings attached to it. Can be done in two ways:
(1) determinable estate: estate which ends automatically upon the happening of event is called
(2) estate of condition subsequent: estate which only becomes vulnerable to being terminated at the grantor’s election

Other terms for…...

Similar Documents

Real Estate

...REAL ESTATE AND HOUSING ASSOCIATION OF BANGLADESH Bye- Laws on Code of Business Conduct REHAB is committed towards the enhancement and growth of the Real Estate Sector of Bangladesh. REHAB members recognise that for sustainable long term growth of this sector, they must conduct their business with a high degree of professionalism, fairness, integrity and ethics. In recognition of the member’s responsibility and obligation to Customers, Land Owners, fellow members, the public and the country, the Executive Committee of the Real Estate Housing Association of Bangladesh 2008-2009 exercising the power conferred upon it under clause VI. B of the Memorandum and Articles of Association of the Real Estate Housing Association of Bangladesh incorporated under the companies ACT, 1913 (new 1994) does hereby approve and adopt the Bye-Laws on Code of Business Conduct with the tenets set forth hereunder to be followed by its members. Violation of the Code of Business Conduct by any member of Rehab shall be considered to be prejudicial and detrimental to the interest of the Real Estate Sector and the association and the Executive Committee may issue a show cause to the offending member. Such notice shall specify the date, place and time of hearing so as to allow the member an opportunity to defend himself before the Executive committee. If the Executive Committee finds enough grounds to conclude that the said member has violated the Code of Business Conduct as outlined in this Bye-Laws, then...

Words: 4018 - Pages: 17

Real Estate

...Present Crisis and Opportunity in Bangladesh Real Estate Sector http://blog.flatbari.com/2011/01/24/present-crisis-and-opportunity-in-bangladesh-real-estate-sector/ In the beginning of the year 2009, “the real estate sector will be  the first growing sector and huge prospect in near future”, announced by the Govt. The Govt. was right because the sales of land and apartments grew by 20 percent last year, compared to the previous year, the industry insiders said, the realtors handed nearly 20,000 apartments in 2010. Along with industrialists, expatriate Bangladeshis, garment makers and a number of middle-income people invested in real estate last year because of a better economic situation. But in year 2011,  the scenario may negative because the present Govt. decision and the increases the prices of raw materials included MS rod,  the government is trying to make it mandatory for an apartment to meet 3 percent of its energy need from solar power. But Mr. Tanveerul Haque Probal, managing director of Building for Future Ltd. said that they(Developers) don’t have necessary infrastructure to set up solar panels for every apartment and it will be too expensive. And that is why, the scheduled hand over may delaying and property buyer also suffering and paying extra for rent. NRB Real Estate Buyer Community, the power of Bangladesh Economy. A Lot of foreign investor  already invested on this sector and feeling uncomfortable. The property owner , Real Estate......

Words: 386 - Pages: 2

Real Estate

...Progress in Planning 64 (2005) 69–175 www.elsevier.com/locate/pplann Global city making in Singapore: a real estate perspective Sun Sheng Han Department of Real Estate, School of Design and Environment, National University of Singapore, 4 Architecture Drive, Singapore, Singapore 117566 CHAPTER 1 Introduction ‘Global city’ is a notion popularly cited among planning academics and practitioners in describing some strategic places in the world economy. Pioneer researchers in this area define global cities as basing points of capital in a world economy (Friedmann, 1986: 71); production centres of specialized information services such as financial services, media services, educational and health services, and centres of tourism (Hall, 1998: 24); and centres for servicing and financing international trade, investment and headquarters operations (Sassen, 2004: 171). Summarizing those perspectives and recognizing the influence of a new economy, which can be characterized as informational, global and networked (Castells, 2000: 27), global cities can be seen as the urban nodes where globalization materializes so that they are (1) highly concentrated command points in the organization of the world economy; (2) key locations for finance and specialized service firms; (3) sites of production of innovation; (4) markets for the products and innovations produced (Sassen, 2001: 3 and 4). Taylor (2004) has argued that these perspectives involve understanding just the attributes of cities and...

Words: 47333 - Pages: 190

Real Estate

...ANALYSIS OF REAL ESTATE SECTOR IN INDIA REPORT SUBMITTED TO Dr. Dennis Raj Kumar Submitted by (GROUP-9) Lavanya Sriharshini Vinod Varun Ashok P Manju harsha Pramit CONTENTS CHAPTER NO. | CHAPTER NAME | PAGE NO. | | ABSTRACT | 3 | 1 | INTRODUCTION | 4 | 2 | MARKET STRUCTURE | 6 | 3 | ANALYSIS OF INDIAN REAL ESTATE IN HOUSING SECTOR | 11 | 4 | PRICING STRATEGIES | 16 | 5 | ADVERTISING STRATEGIES | 19 | 6 | FINANCIAL ANALYSIS OF INDIAN REAL ESTATE COMPANIES | 21 | 7 | FUTURE OUTLOOK OF REAL ESTATE | 32 | | CONCLUSION | 35 | | REFERENCES | 36 | ABSTRACT EXECUTIVE SUMMARY: Real estate sector in India is assumed greater heights with the labor migration, liberalization of economy which led to raise for commercial and housing space.2012 was very sluggish year in terms of growth where GDP contribution of real estate declined from 10.6% to 6.5% due to raise in input cost, high lending rates which impacted sales as a result of inflation. Real estate sector is described as cyclic moments in terms of price over a period of time which caused fluctuations in commercial and residential markets. This resulted in change in economic policies of Indian market environment. The change in macro-economic factors such as GDP, employment rate, population growth, House hold disposal income, stock market values, Price to income ratio, Net rental yield, Household debt service ratio, interest rate / mortgage rate, demand......

Words: 8860 - Pages: 36

Real Estate

...Effects of The European Debt Crisis on the German Real Estate Market Hiermit versichere ich die vorliegende Arbeit allein und nur mit den angegebenen Hilfsmitteln angefertigt zu haben. Der Veröffentlichung der Bachelorarbeit in der Bibliothek der Hochschule Aschaffenburg wird zugestimmt. Aschaffenburg, den 28.02.2013 Effects of the European Debt Crisis on the German Real Estate Market Bachelorarbeit von Sebastian Stollhof 28.02.2013 Effects of The European Debt Crisis on the German Real Estate Market Autor: Sebastian Stollhof An der Bergleite 3 67806 Rockenhausen Erstprüfer: Prof. Dr. Paschedag HOCHSCHULE ASCHAFFENBURG FAKULTÄT WIRTSCHAFT UND RECHT WÜRZBURGER STRASSE 45 D-63743 ASCHAFFENBURG Table of Content TABLE OF EXHIBITS LIST OF ABBREVIATIONS 1 EMERGENCE OF THE DEBT CRISIS 1.1 Macroeconomic problems 1.1.1 The imbalance of public authorities 1.1.2 Strongly diverging current account balances 1.1.3 Strongly diverging price- and wage developments 1.2 Specific problems within the monetary union VIII IX 1 1 1 5 10 12 1.2.1 Interest rate policy of the European Central Bank (ECB) 12 1.2.2 Membership within the EMU increases insolvency risk for states 1.2.3 National fiscal policy versus central monetary policy 2 GERMAN HOUSING MARKET – PRICE BUBBLE OR SAFE HAVEN? 2.1 Definition of price bubbles 2.2 Explanatory approaches for real estate bubbles 2.2.1 Macroeconomic factors 2.2.2 Institutional explanatory approaches 2.2.3 Behaviour-based......

Words: 18935 - Pages: 76

Real Estate

...Deborah Rodriguez January 13, 2014 Real Estate Law Assignment – Unit 1 RE: Adverse Possession California Code of Civil Procedure § 321. Possession, when presumed: Occupation deemed under legal title, unless adverse. In every action for the recovery of real property, or the possession thereof, the person establishing a legal title to the property is presumed to have been possessed thereof within the time required by law, and the occupation of the property by any other person is deemed to have been under and in subordination to the legal title, unless it appear that the property has been held and possessed adversely to such legal title, for five years before the commencement of the action. § 322. Occupation under written instrument or judgment, when deemed adverse. When it appears that the occupant, or those under whom he claims, entered into the possession of the property under claim of title, exclusive of other right, founding such claim upon a written instrument, as being a conveyance of the property in question, or upon the decree or judgment of a competent court, and that there has been a continued occupation and possession of the property included in such instrument, decree, or judgment, or of some part of the property, under such claim, for five years, the property so included is deemed to have been held adversely, except that when it consists of a tract divided into lots, the possession of one lot is not deemed a possession of any other lot of the same......

Words: 3966 - Pages: 16

Present Value

...301 Principles of Finance Present Value Part I:  This part of the assignments tests your ability to calculate present value. A. Suppose your bank account will be worth $7,000.00 in one year.  The interest rate (discount rate) that the bank pays is 8%.  What is the present value of your bank account today?  What would the present value of the account be if the discount rate is only 3%? PV=FV/(1+r)t, PV=7,000/1.08 = $6,481.48 at 8% PV=7,000/1.03, = $6,796.12 at 3% B. Suppose you have two bank accounts, one called Account A and another Account B.  Account A will be worth $4,000.00 in one year.  Account B will be worth $9,600.00 in two years.  Both accounts earn 5% interest.  What is the present value of each of these accounts? Account A PV=FV/(1+r)t, PV=4,000/1.05 = $3,809.52 Account B PV=FV/(1+r)t, PV=9,600/1.1025 = $8,707.48 C. Suppose you just inherited an gold mine.  This gold mine is believed to have three years worth of gold deposit.  Here is how much income this gold mine is projected to bring you each year for the next three years: Year 1: $42,000,000 Year 2: $62,000,000 Year 3: $99,000,000 Compute the present value of this stream of income at a discount rate of  8%.  Remember, you are calculating the present value for a whole stream of income, i.e. the total value of receiving all three payments (how much you would pay right now to receive these three payments in the future). Your answer should be one number - the present value for this oil well at......

Words: 950 - Pages: 4

Real Estate

...Chapter 13 key terms: Armin Hadziomerovic Acceleration Clause- A contract provision that allows a lender to require a borrower to repay all or part of an outstanding loan if certain requirements are not met. Ad Valorem Taxes-is a tax based on the value of real estate or personal property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). Assessment-the evaluation or estimation of the nature, quality, or ability of someone or something. Assignment of Rents Clause- is a provision in a deed of trust or mortgage. Bearer- a person who presents a check or other order to pay money. Bona Fide Purchaser for Value- referred to more completely as a bona fide purchaser for value without notice – is a term used in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property. Broker Lien- a right to property or payment that a broker has if the buyer does not pay the money owed to the broker for a sale: Collateral- something pledged as security for repayment of a loan, to be forfeited in the event of a default. Contractor- a person or company that undertakes a contract to provide materials or labor to perform a service or do a job. Default Clause- a failure to act, esp. a failure to meet a financial obligation or to appear in a court of law at a time specified Deficiency Judgment- is an unsecured money......

Words: 1857 - Pages: 8

Real Estate

...Joe Morris Real Estate Extra Credit Assignment Chapter 4 Ad Velorum Taxes are property taxes that are based on the market value of the property. Affordable housing allocation is a requirement that encourages or mandates a "reasonable and fair" component of new housing construction for lower-income families. Assessed Value is the value determined as the basis on which an owner's property tax liability is calculated, usually a percentage of market value Board of adjustment refers to that in local zoning law, a board of citizens, appointed by the governing body, to hear and make determinations on appeals for zoning variances. The board of adjustment is somewhat unique in that its determinations are final rather than merely recommendations to the governing body. They can be appealed only in court. Comprehensive Plan is a local government's general guide to a community's growth and development based on the community's goals and objectives. Concurrency is the requirement that public facilities and services, including roads, sewers and schools be available at the same time new development is completed Condemnation is the legal procedure involved with eminent domain, the right of government to acquire private property, without the owner's consent, for public use in exchange for just compensation. Dedicated (property) is the conveyance of property form a private owner to government for public use. Common examples are the dedication of streets, parks, or other areas to local......

Words: 2207 - Pages: 9

Real Estate

...Build and they will come has possibly been not executed before in India on such a large scale. The Rs 2,000 crore, initial public offering of Lavasa Corporation Ltd, promoted by Mumbai-based infrastructure group, Hindustan Construction Company (HCC) is likely to be postponed to next fiscal, after it received a show cause notice on 25 November to stop construction of the project from the Ministry of Environment and Forests and after its name surfaced in the bribe for loan scam. Lavasa city, near Pune, is one of the most ambitious real estate projects in the country. Considered to be India’s first planned hill city, the 12,500 acre project is part of the 25,000 acres of land, declared as a `hill station’ by the Maharashtra government, under the hill station policy passed by the government in 2000. The Ministry has given 15 days time to the company to give reasons for not demolishing the unauthorized structures constructed in Lavasa city, without obtaining environmental clearance between March, 2004 and September, 2006. According to the notice, the constructions are in violation of the Environment Impact Assessment Notification, 2006. The Ministry has also asked Lavasa to stop construction in the city till the Centre takes a decision on the show cause notice, and it has asked Lavasa to back up their explanation with photographs and satellite imagery. In its response to the show cause notice on 28th November, Lavasa has denied all the allegations made by the......

Words: 2542 - Pages: 11

Real Estate

...CHAPTER 1 THE NATURE OF REAL ESTATE AND REAL ESTATE MARKETS ------------------------------------------------- Test Problems 1. A market where tenants negotiate rent and other terms with property owners or their managers is referred to as a: b. User market 2. The market in which required rates of return on available investment opportunities are determined is referred to as the: d. Capital market 3. The actions of local, state, and federal governments affect real estate values d. All of the above 4. Approximately what portion of U.S. households own their own home? b. Approximately two-thirds 5. Of the following asset categories, which class has the greatest aggregate market value? d. Nongovernment real estate 6. Storm water drainage systems are best described as: b. Improvements to the land 7. What is the single largest asset category, in terms of value, in the portfolio of the typical U.S. household? a. Housing 8. Real estate markets differ from other asset classes by having all of the following characteristics except: d. Homogeneous product 9. Which of the following is not important to the location of commercial properties? c. Access to schools 10. Which of the following attributes of a home are the most difficult to observe and value? c. location attributes ------------------------------------------------- Study Questions 1. The term real estate can be used in three fundamental ways. List......

Words: 13860 - Pages: 56

Real Estate

...TRAINING REPORT ON “Growth of Real Estate Sector with in 5years” A case of Corporate Real Estate Solutions Submitted to MAHARSHI DAYANAD UNIVERSITY, ROHTAK In partial fulfillment of the requirements For the award of the degree of MASTER OF BUSINESS ADMINISTRATION (INDUSTRY INTEGRATED) (II SEMESTER) Submitted by: Name: Alok Kumar Upadhayay Regn. No. Roll.No. DAV INSTITUTE OF MANAGEMENT (ELC CODE: 080923013) NH-3, NIT, FARIDABAD. JULY 2011 DECLARATION I hereby declare that the Training Report conducted at Corporate Real Estate Solutions,Delhi. Under the guidance of (Ms. Aakrity) Submitted in Partial fulfillment of the requirements for the Degree of MASTER OF BUSINESS ADMINISTRATION (Industry Integrated) TO MAHARSHI DAYANAND UNIVERSITY, ROHTAK is my original work and the same has not been submitted for the award of any other Degree /diploma /fellowship or other similar titles or prizes. Place: Date: Alok Kumar Upadhayay Regn.No: Roll No. 2 ACKNOWLEDGEMENT First and foremost, I extend my deepest thanks to my mentor and guide Mr. Vishal Srivastava, Director – Corporate Real Estate Solutions, for giving me this opportunity to work in such a prestigious organization as well as for giving me a wonderful thesis. Without his constant guidance and feedback, I would have never been able to complete the training, I did. I am thankful to Ms. Aakrity, whose consistent support and cooperation showed the way towards the successful completion of the......

Words: 15995 - Pages: 64

Estate of Confusion

...Estate of Confusion The 10th amendment in the Constitution has powers to regulate commerce between states. The Congress has authority by the Constitution to regulate the trade among the states and between foreign countries. In this matter distention appears to be breaching the commerce cost therefore Tanya needs to confront the statute. In order for Tanya to file suit she will have to go to the Federal District Court in the state of denial to fight the new statute. In a way, this law discriminates against out of state commerce, making every truck passing through the town to purchase an specific type of hitch for the safety of the roads. The state is trying to monopolize the item manufactured in the same given state. The State of Confusion is recommending the use of B-type truck hitch by all the trucks and towing trailers that move on the highways, making this a national matter. Even when there is no law put in place by the federal government to regulate the hitches used, it cannot be mandated by the state of Confusion to make a national law. Because the B-type truck hitch is manufactured in the state of Confusion, it does not give the company the right to pressure the state to manipulate the system for any other reason than money. If the law takes effect the interstate trade will be affected as it will apply to in-state and out-of-state trucks. Also if the statute passes it will be unconstitutional because every truck will suffer the extra expense for buying new......

Words: 691 - Pages: 3

Real Estate

...area i.e. the impact of middle class on the real estate sector. The chapter links to the Research Objectives and contains secondary analysis and descriptions, which may provide a platform for later evaluation. According to a research by Deutsche Bank, World Bank, McKinsey and CNN- IBN(Sources should be with year example So Deutsche Bank,(Year) ), the total Indian middle class ranges from 300 million to approximately 360 million people; this comprises less than 30 percent of the total population of 1.2 billion (Please refer Chart 1 below). For multi-national corporations and domestic real estate companies, the middle class in India thus presents significant business opportunities. Over the last several years, the overall growth in the real estate sector has burgeoned and this explosion is primarily due to the aspirations of the lower middle, middle and upper middle class of India. Apart from this a whole new range of investment options in the real estate sector has increasingly gaining acceptance. However, keeping in mind the exposure and increasing needs and desires of the middle class, not many significant efforts have been made towards educating the masses. Dire improvements are needed to match the needs of the growing middle class and educate the masses about the real estate sector, which primarily is an unorganized sector. In order to ensure that the growing middle class integrates and understands well about the real estate, the right education has to be on everybody’s......

Words: 3235 - Pages: 13

Real Estate

...Fin345 Session 2 Why Study Real Estate? Part 1 – Present Economic Considerations Demographics shaping your future and the future of real estate 2 Housekeeping Items 1. Seating Charts 2. Finance 336 and WA. State R.E. licensure • RE Fundamentals 60 hrs. (FIN 345=60 + FIN 346=15) • RE Practices 30 hours available on line from: • Rockwell ceshop proSchools and many more • Cost for proschools $199 • Exam prep. tests usually run around $99 • Pass broker exam • Fingerprinting 3 Monday’s Homework Assignment BOOK - Read Chapter 1  Question – Labor Stats. 1. Define U-3 and U-6 - One or two sentence hint: (http://www.bls.gov/lau/stalt.htm) 2. Find the U-3 and U-6 Percentages for Washington State 4 Today’s Topics The Economy – effects upon, and from, R.E. – Demographics (for whom) – Employment (why is this important to R.E.?) – Age cohorts (what effect could this have upon R.E.?) – The R.E. market changes -- but -- it never goes away – R.E. related investing -- knowing where to look and what to look for (for you and your clients) 5 Unemployment Figures A Closer Look 6 Employment Changes Over Time Animated Unemployment Map – Used with permission of LaToya Egwuekwe 7 Discussion of U-3 and U-6 figures • • • • • • • What figure do we hear about on the news? How does the BLS obtain these numbers? As students, are you in the labor force? What does U-3 represent? What does U-6 represent? Is U-6 all the......

Words: 730 - Pages: 3