Fractional interest refers to a way of owning real estate where the owner possesses a portion or 'fraction' of the total asset, typically involving less than complete control over the whole property. This form of ownership is common in scenarios where multiple parties share the rights and responsibilities associated with a single piece of real estate.
A land sale-leaseback is a financial transaction where the owner of a piece of land sells it to an investor and simultaneously enters into a lease agreement to continue using the land for a specified period.
A less than freehold estate refers to an estate in land that has a predetermined time span, most commonly associated with leases and leasehold properties.
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.
A tenancy from year to year, also known as a periodic tenancy, is a rental arrangement that continues for an indefinite duration, typically requiring a notice period for termination. This type of tenancy renews automatically at the end of each period (generally a year), unless either the landlord or tenant gives proper notice to terminate the lease agreement.
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.
