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What real property interests exist?

Some common possessory interests include fee simple absolute, life estate, and leasehold. Some common non-possessory interests include future interests, easements, profits, and licenses.

What is not an example of real property?

Generally, real property is real estate. It includes the land and any permanent improvements to the land like buildings, fences, landscaping, driveways, sewers, or drains. Personal property is all property that is not real property like automobiles, livestock, money, and furniture.

What is the greatest type of interest in property?

Fee Simple Absolute Estate Simply put, an owner with a fee simple absolute has control of the ENTIRE bundle of sticks. It is the strongest form of ownership and nobody can possess more than a fee simple absolute interest in the land. [3] It is the most extensive interest an individual can possess.

What does it mean to have interest in an estate?

Person interested in the estate means any person entitled to receive, or who has received, from a decedent or by reason of the death of a decedent any property or interest therein included in the decedents estate. It includes a personal representative, conservator, and trustee.

What are the six classes of real estate?

Investors large and small soon learn there are seven major types of real estate, including residential, office, industrial-warehouse, hospitality, retail, agricultural and the remainder, catch-all category of special.

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