Freehold

Question 1

What is the Law of Property Act?

Answer 1

A legislation enacted in 1925 that governs property law in the UK.

It simplifies the conveyancing process and modernizes property rights.

Question 2

What is an estate in land?

Answer 2

An interest in land that is capable of subsisting, being created, or conveyed.

Estates can vary in duration and rights.

Question 3

What does ‘fee simple absolute in possession’ refer to?

Answer 3

A legal freehold estate that gives the owner full rights to the property without any conditions.

This is the most complete form of ownership.

Question 4

What is a term of years absolute leasehold estate?

Answer 4

A leasehold estate that lasts for a fixed period of time, specified in the lease agreement.

This type of estate is distinct from freehold estates.

Question 5

True or False: The Law of Property Act was enacted in 1925.

Answer 5

True

It is a key piece of legislation in property law.

Question 6

Fill in the blank: An estate in land is capable of _______.

Answer 6

subsis subsisting or being created or conveyed.

This defines the nature of property interests.