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In this lesson, we are discussing ownership of real property, focusing on present estates and future interests. The common scenario is the conveyance of real property from one party to at least one transferee. The fact pattern typically involves a transferor (e.g. Michael) conveying real property (e.g. Greenacre) to a transferee (e.g. AMI). This transfer of ownership is illustrated through the language used in the conveyance document.