Chapter 9 Habendum clause Flashcards

Chapter 9 (Habendum clause) Flashcards Remainder EstateIf someone other than the original owner is to receive the ownership. And the difference between a Reversion Estate is simply who is the receive the ownership.Habendum clauseWhich is also called the to-have-and-to-hold clause, specifies the legal rights being conveyed. The portion of the bundle of legal rights being conveyed is described in this clause, such as "fee simple forever" or "in a life estate." Title to Real PropertyIs the ownership of specified rights in property that forms an estate. The type of estate, as we have seen, is based on all specified portions of the bundle of rights that included possession, disposition, enjoyment, exclusion control.Reversion EstateThe party who created the life estate, called the GRANTOR, may wish to have the property ownership returned to him or her or to his or her heirs. The right to regain the ownership is called...Reddendum clauseIs used to reserve a right in the title, not the lad, such as a remainder estate.If someone other than the original owner is to receive the ownership, it is called a Remainder Estate.And the difference between a reversion estate and a Remainder Estate is simply who is the receive the ownership.