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by: Mr. Reginald O'Reilly


Marketplace > Appalachian State University > Law > LAW 2150 > LEGAL ENVIRON OF BUS
Mr. Reginald O'Reilly
GPA 3.56

Robert Cherry

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About this Document

Robert Cherry
Class Notes
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This 1 page Class Notes was uploaded by Mr. Reginald O'Reilly on Friday October 2, 2015. The Class Notes belongs to LAW 2150 at Appalachian State University taught by Robert Cherry in Fall. Since its upload, it has received 57 views. For similar materials see /class/217673/law-2150-appalachian-state-university in Law at Appalachian State University.




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Date Created: 10/02/15
Vanessa Papa Law 2150 Chapter 25 What is a deed and what goes in a deed o A deed is a signed legal instrument in writing used to grant a right 0 The grantor must have the legal ability to grant the thing or privilege o The grantee must have the legal capacity to receive it o It must be executed in presence of witnesses 0 Conditions attached to the acceptance of a deed are known as covenants What is Fee Simple Absolute and what are the characteristics of Fee Simple Absolute o a fee simple orfee simple absolute is an estate in land 0 Fee simple 39 39 absolute 39 39 of real property but it is limited by the four basic government powers of taxation eminent domain police power and escheat o It denotes the maximum of legal ownership the greatest possible aggregate of rights powers privileges and immunities which a person may have in land It is an estate of potentially infinite duration in the holder and the holder39s successors What is a Leasehold Estate Who are the parties to a Leasehold Estate and what is a lease 0 A leasehold estate is an ownership of a temporary right to land or property in which a lessee or a tenant holds rights of real property by some form of title from a lessor or landlord o A lease is a contract calling forthe lessee user to pay the lessor owner for use of an asset How do private restrictive covenants and public zoning land use control work 0 Restrictive covenants are imposed in a deed by the seller upon the buyer of real estate to do or not to do something Such restrictions frequently quotrun with the landquot and are enforceable on subsequent buyers of the property They may restrict size of buildings types of buildings and so on


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