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Author Question: How are these individual rights severed from the fee simple estate? What impact does severing the ... (Read 50 times)

abern

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on: Aug 3, 2018
How are these individual rights severed from the fee simple estate? What impact does severing the rights have on the fee simple estate?
 
  What will be an ideal response?

Question 2

What is partition?
 
  What will be an ideal response?


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olderstudent

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Reply #1 on: Aug 3, 2018
Answer to Question 1

Each of the individual rights can be transferred or severed from the fee simple estate. This transfer may be accomplished through a deed or other written document, such as a lease or license. When the severance occurs the fee simple becomes a lesser estate. For example, a lease agreement severs the right to occupy the land. The new interests are a fee simple subject to a leasehold estate and a leasehold estate. Transfer can be the result of a sale (such as mineral rights), lease, license, gift, inheritance or devise.

Answer to Question 2

A partition is a legal proceeding where the court is asked to resolve disputes concerning ownership, use, and possessory interests that the co-tenants are unable to resolve between themselves. The court can order the sale of the real estate and the proceeds distributed in accordance with each ownership interest.


abern

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Reply 2 on: Aug 3, 2018
Great answer, keep it coming :)

xiaomengxian

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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