HOW REAL

PROPERTY
CAN BE
CLASSIFIED?
GROUP 6
Le Phuong Vi
Nguyen Quynh Giao
Nguyen Thu Thuy
Do Ha Thu
 2.1
Freehold estates

01. 02.
Definition of real Classified
property
2.2
Leaseholds

TABLE OF CONTENTS
 01.
WHAT IS REAL
PROPERTY?
“Which consists of land, and of all rights and profits arising from
and annexed to land, of a permanent, immovable nature. To make
one's interest in land, real estate, it must be an interest not less
than for the party's life, because a term of years, even for a
thousand years, perpetually renewable, is a mere personal estate.
It is usually comprised under the words lands, tenements, and
hereditaments.”

— A Law Dictionary, Adapted to the Constitution and Laws

of the United States (by John Bouvier, 1856)
 REAL
PROPERTY
• Land
• Anything that permanently tied to the land
• All ownership rights
• Sometimes as known as Real Estate.
02.
CLASSIFIED
REAL
PROPERTY
 CLASSIFIED
TABLE
Simple fee
Freehold estate Life estate

Estate pur autre vie

REAL PROPERTY

Personal property
Leaseholds
Tangible property
 1st
FREEHOLD
ESTATES
• A type of real estate ownership that is indefinite.
• A freehold estates gives the owner the right to the title of the property.
• The owner can transfer the freehold estates to their heir after death.
CONDITIONS TO BE A FREEHOLD ESTATE

Immovable No fixed length of

ownership
The asset cannot be moved
The property can be passed on
forever. The owner has limitless
time to own the property.
 1.1. FEE
SIMPLE

• A legal word that refers to complete

and irrevocable ownership of land and
any structures on it.

• The property is owned wholly, with no

constraints or limits (except local
zoning rules).
 TWO CATEGORIES OF FEE SIMPLE

Fee simple absolute Alternative term refering to Fee Simple. Own the
land totally, with no restrictions.

Ownership is depend on precise circumstances. If

the grantor’ terms of ownership are breached, the
Fee simple defeasible property may be restored to the grantor or a
specified third party.
 TWO CATEGORIES OF FEE SIMPLE (Next)

If the criteria of property ownership are

Fee simple defeasible breached, each sort of fee simple defeasible
involves various effects or actions.

A fee simple subject to a Fee simple Fee simple subject to

subsequent condition determinable executory limitation
 FEE SIMPLE DEFEASIBLE
The property does not automatically revert to
A fee simple subject to a
the grantor if the conditions of ownership are
subsequent condition not satisfied. The grantor could reclaim the
property if the requirements are broken.

Fee simple If the grantor's conditions are not satisfied, the

determinable property is instantly returned to him

Fee simple subject to If requirements are broken, ownership of the

executory limitation property is immediately transferred to a third party
 1.2.LIFE
ESTATE
● An interest in land that lasts only for
the life of the holder.

● The holder of a life estate cannot leave

the land to anyone in their will

● A life estate is created by a deed that

gives the land to the person "for life"
and identifies what should happen to it
after that person dies.
 1.3.ESTATE PUR AUTRE
VIE
● Originated from Norman French "autre
vie", which means "for another's life"

● "Estate pur autre vie" refers to an

interest in property for the lifetime of
someone else

● Ex: B gives A a house for B's life, A

will hold the house during the lifetime
of B.
 2nd
LEASEHOLDS
• The right to live in or use a building, piece of land, etc. for a particular period as
agreed in a lease.
• The lessee contracts with the lessor for the right to use the property in exchange
for a payments.
• Ex: Renting space in an office building for a company's use
 LEASEHOLD IS DIVIDED INTO 2 PARTS

Personal property

Tangible property
 PERSONAL PROPERTY

01 02

DEFENITION EXAMPLE

• A class of property that can include • Personal property is also known as

any asset other than real estate.
• Personal property is movable.
• It isn't fixed permanently to one
particular location
movable property, movables, and
chattels.
• Home appliances, clothing,
automobiles, artworks, antiques,...
 PERSONAL PROPERTY

03

CLASSIFIED

• Tangible or intangible
• Tangible personal property: vehicles, furniture, boats, and collectibles
• Intangible personal property: Stocks, bonds, and bank accounts
 TANGIBLE
PROPERTY

• Tangible refers to physical property.

• Includes assets that do not inherently qualify,
such as jewelry, toys, and sports equipment.
• Such property is easier to collateralize and does
not lose value when companies face financial
distress so companies could borrow more from
creditors.
 THANKS!
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