Ownership

Question 1

Fee simple aka fee estate or fee simple absolute

Answer 1

The most complete form of ownership, an individual can hold under the law, this is inheritable 

Question 2

Feesimple, qualified, or defeasible

Answer 2

A defeasible fee that has some condition or covenant involved that limits the extent of one’s ownership

Question 3

Fee simple determinable

Answer 3

Exists, when there is a condition in affect after the conveyance of the property to the guarantee, if the condition is violated, such as changing the defined use of the property, the property automatically reverts back to the original owner by rate of revision

Question 4

Fee simple with a condition subsequent

Answer 4

 The same as feesimple determinable, except that there is no automatic right of revision. If the condition is violated, the guarantor must retake the property. Yes, the conveyance grants him or her the right to do so.

Question 5

Feesimple with a condition precedent

Answer 5

Title will not fully transfer to the guarantee until the condition is met, such as a child, reaching a legal age

Question 6

A life estate

Answer 6

Life estate is non-inheritable the fee simple owner conveys to the guarantee the right to use the property as though they guarantee, owns it so long as the Guarantee lives. The guarantor has the right of reversion and is a remaindermen unless it is specified that the final remainderman will hold the property fee simple.

Question 7

Possession

Answer 7

These rights include the right to enter, and occupy the property to invite others to enter an occupied and the right to exclude others 

Question 8

Use or control

Answer 8

These rights involve the purposes for which the property is used, such as living stores, farms, mining, or no use at all a.k.a. Zoning

Question 9

Quiet enjoyment

Answer 9

The right to own or lease to uninterrupted legal use of the property without interference or undo disturbance caused by defects in TITLE

Question 10

Disposition

Answer 10

The right to keep the property sell it, lease it, give it away will it, etc.

Question 11

Freehold (ownership) estate

Answer 11

Freehold estates are estates of indefinite duration that can exist for a lifetime or forever. Some types of freehold estates are classified as “estates of inheritance,” where the estate continues beyond the life of the holder and descends to their living heirs upon death as specified by the will or by law
. The word ownership is a synonym for freehold.