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Land and anything permanently attached to it, such as buildings. It is immovable and includes freehold estates and leaseholds. (Unit 10)
Real Property
Movable items that are not attached to the land. It can be tangible objects like furniture or intangible items like stocks. (Unit 10)
Personal Property
A type of real property where ownership is for an indefinite period. The owner can use the land as they wish and can pass it on to heirs. (Unit 10)
Freehold Estates
A type of property tenure where a tenant has the right to use the property for a specified term under a lease agreement with the landlord. (Unit 10)
Leasehold
The legal process of transferring property from one owner to another. It involves the drafting of a contract and registration with the appropriate authority. (Unit 10)
Conveyance
A legal document that outlines the terms and conditions of the sale of property. It includes details like price, parties involved, and property description. (Unit 10)
Contract of Sale
A legal agreement where a landlord allows a tenant to use a property for a specified period in exchange for rent. (Unit 10)
Lease
Permission to use land or property without granting exclusive possession. It is not a lease and does not create an interest in the land. (Unit 10)
Licence
The right of a tenant to occupy a property without interference, as granted by a lease. (Unit 10)
Exclusive Possession
The person who transfers an interest in property to another, often through a deed or lease. (Unit 10)
Grantor
A legal requirement that certain contracts, including those for the sale of land, must be in writing to be enforceable. (Unit 10)
Statute of Frauds
A legal right to use and benefit from someone else's property without owning it. (Unit 10)
Usufruct
A legal agreement where a person borrows money to buy property and the lender holds the property as security until the loan is repaid. (Unit 10)
Mortgage
Methods used to fund the purchase or development of property, often involving loans or investments. (Unit 10)
Financing Measures
The person who receives property rights from a grantor. (Unit 10)
Grantee
An individual or entity that occupies land or property rented from a landlord. (Unit 10)
Tenant
