Tag Archives: Estates and Tenancies
Estates & Tenancies
Owning a home comes with a lot of external variables. Some are good, while some can be seen as a burden by others. Taxes for example are a necessary external burden, I am sure we can all agree on that. Ownership rights, however, can be seen as a plus. Estates and tenancies are just that, your ownership rights or the extent of interest an individual owns. Additionally, it also includes the degree, quantity and nature of those rights.
Non-Freehold or Leasehold Estates
Unlike a fee simple estate, which provides for an indefinite time and untethered scope of ownership. A leasehold estate always has a definite beginning and end. Its duration is known and opposite of absolute ownership, this estate does not provide ownership rights. This is very important as not all of the legal rights usually associated with a real property will transfer to the tenant. All ownership rights will stay with the landlord and the tenant will have a limited scope of ownership.
