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Allodial
From Wikipedia, the free encyclopedia
Allodial land, or allodium, is literally land which has no lord.
The holder of allodial land would owe no
obligations, as owner of the land, to anyone else.
Some systems of law, for example English law, do not permit any
land to be allodial, all land ultimately being
held from the Crown, whereas others, such as Scottish law do permit
this.
Allodial property rights were
claimed by the people of colonial
America after the Declaration of
Independence and recognized by the
States after the Revolutionary War.
Once this occurred there was
no real distinction between land held
in fee simple and allodial land,
and the two terms are used
interchangeably in legal systems which
have abolished the notion of a
Lord. In these situations. Allodial
land ownership may be contrasted to
feudal land ownership.
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Fee simple
From Wikipedia, the free encyclopedia
Fee simple, also known as fee simple absolute or allodial,
is a term of art in common law. It is the most
common way real estate is owned in common law countries, and is the
most complete ownership interest one
can have in real property. In common law legal terminology, one does
not "own" the real estate; one has an
estate in the land conferring certain rights. The fee simple estate is
also called "estate in fee simple" or
"fee-simple title."
Having its origins in feudalism, one who has a fee simple
interest has complete dominion over the real
property. According to William Blackstone, the great common law
commentator, fee simple is the estate in land
which a person has when the lands are given to him and his heirs
absolutely, without any end or limit put to his
estate. Land held in fee simple can be conveyed to whomever its owner
pleases; it can be mortgaged or put up as
security as well. No rent or similar obligations are due from the owner
of property in fee simple.
Fee simple can be contrasted with a life estate, which is
an interest in lands that terminates upon the owner's
death and reverts to the grantor or the grantor's heirs according to
the terms of the instrument. It also was
formerly contrasted with fee tail, traditionally created by the words
of grant "to N. and the heirs of his body";
under fee tail, the owner could not alienate the property, which was
supposed to be passed on to the direct
descendants of the owner.
Other estates in land include the fee simple conditional,
the fee simple defeasible, the fee simple determinable,
the fee simple subject to a condition subsequent, the fee simple
subject to an executory limitation, and the life
estate.
Etymology: Fee - A right in law to the use of land; i.e. a fief.
Simple - in the unconstrained sense: (1) without
limit to the inheritance of heirs; (2) unrestricted as to transfer of
ownership.
Retrieved from "http://en.wikipedia.org/wiki/Fee_simple"
"Perhaps the right of greatest importance, of greatest value to the
free citizen of these United States in his
association with his fellow man and his government, is the absolute
ownership of property. From this
absolute dominion flows all free society, and without it, of course,
comes dictatorship and oppression.. If
the owner of the property shall not have unconditional control and use
of it -- who shall ?" Thomas
Jefferson. ...nor shall private property be taken for public use
without just .. Article V, US. Constitution.