property

One who receives a bailed article.  See bailment.

Merely gives possession to the property rather than right or title to hold the property.  Contrast with freehold estate.

Gives owner right or title to hold the property.  Contrast with nonfreehold estate.

Generally, refers to the duty of a life tenent to maintain property in a reasonable state of repair. There is an exception for ordinary wear and tear.  If the individual personally occupies the land, this duty is limited to the extent of the reasonable rental value of the property.  Otherwise, it is to the extent of income that is derived from the property.

Fictional plot of land often used by legal scholars in discussions of real property law.

See Whiteacre (related).

See tenancy for years.  

See subject to open.

Also called subject to partial divestment.  An estate is given to a certain class of individuals (eg. a person's  children), one or more of whom must be already ascertained as part of the class and who has satisfied any conditions precedent to vesting. However, in order to meet the requirements for this estate, other individuals could later be added.  In other words, the class is open.

An estate that has a natural duration that may be cut short once a particular event or condition happens that allows the grantor to take the property back. The particular event is part of the grantor's future interest rather than part of the estate that it ends.

An executory interest that follows an interest that the grantor held.

See:  Future Interest