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Author Question: How are these individual rights severed from the fee simple estate? What impact does severing the ... (Read 76 times)

abern

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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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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
Excellent


jomama

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Reply 3 on: Yesterday
Great answer, keep it coming :)

 

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