real property law
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REAL PROPE
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Prof. Dra. Adela Pérez del Viso– May/June 2015.
THE MOST COMPLETE FORM OF FREEHOLD ESTATES:
THE FEE SIMPLE:
PROPERTY LAW
REAL PROPERTY LAW.
Real property law: divided into: FREEHOLD ESTATES (1)
LEASEHOLDS. (2)
1): FREEHOLD ESTATES: ownership an individual has, over land, for an indefinite period of time. (= DOMINIO and CONDOMINIO)
2): LEASEHOLDS: Property interests of limited duration; they can be acquired through a lease (a contract for exclusive possession in which a tenant pays the landlord or landlady a specific rent or compensation.)
In Argentina: THEY ARE NOT “DERECHOS REALES” BUT CONTRACTUAL RIGHTS WHICH DERIVE FROM A LEASE CONTRACT.
WHAT IS “LAND”?. THIS TERM REFERS TO:
The real estate
(e.g.buildings)
The right to the minerals
underneath the land
The airspace above the
land
THREE TYPES OF FREEHOLD ESTATE:
THE FEE SIMPLE
THE LIFE ESTATE
THE ESTATE PUR AUTRE VIE
Fee tail: Now is Obsolete
Transfer of title in land from one person to
another: CONVEYANCE (TRADICION)
FEE SIMPLE:
Complete and unlimited form of Freehold Estate
It is inheritable and lasts as long as the owner (or heirs) wants to keep it
LIFE ESTATE:
The individual retains possession of the land for the duration of his life
Technically temporary: ends when the owner dies;It is treated as complete ownership.
Similar to a Life Estate. But it is measured by the life of someoneother than the grantee.
ESTATE PUR AUTRE VIE