The allodial system is a legal framework that grants individuals full property ownership rights. It is one of the foundational principles underlying property rights in the United States.
An estate encompasses the degree, nature, and extent of interest that a person has in real property as well as all their property, real or personal, that they own and leave at death.
A fee in real estate can refer to the ownership interest in land that may be inherited, known as a fee simple or fee simple defeasible, or it can refer to compensation based on the completion of a specific task.
Fee Simple or Fee Simple Absolute refers to the absolute ownership of real property where the owner is entitled to the entire property with unconditional power of disposition during the owner's life, and upon their death, the property descends to the owner's designated heirs.
Freehold refers to an interest in real estate without a predetermined time span, giving the holder indefinite ownership and rights to the property.
Real Property encompasses a variety of rights associated with the use and ownership of land and structures. It can include a full ownership interest, the use of a property under a lease, or partial interests like easements.
Tenure in land refers to the mode in which a person holds an estate in lands. This includes various forms such as fee simple ownership and leasehold estates.
