Real Estate Possession Types

Real Estate Possession is the interest an individual has in a particular piece of real estate. Real Estate Dictionary has identified 4 types of real estate possession categories: Freehold, Lease Hold, Statuatory, and Equitable. These categories are very simple to understand.

The first category Real Estate Dictionary identified is freehold. This is the most common type of Real Estate possession. This means that an individual owns that rights to immovable land for an undetermined amount of time. An example of a freehold estate real estate possession would be an individual purchasing a home that does not have any restrictions on it. Restrictions will be discussed in further detail later.

The second type that Real Estate Dictionary identified was a lease hold Real Estate possession. This is an interest in real estate where the rights are limited. This is not ownership but ownership to certain rights granted by the person who has a freehold interest. An example of this type of real estate possession is an individual renting a house or an apartment for a certain time. There are many types of lease hold estates that will be discussed in further detail later.

The third type that Real Estate Dictionary Identified was the statuatory possession. This is a form of Real Estate possession that deals with community property. This type of deals with the legal rights of married couples mostly. This is a term that implies that a husband or wife has an undivided interest in the property.

The final type Real Estate Dictionary identified was the equitable estate. This type of estate is not an ownership in property or any possession but a claim on the property. This type deals with liens and easements. Liens and easements will be covered in further detail later. Examples of equitable estates are a contractor not being paid attaching the debt to the property owner. This means that when the house sells the contractor gets paid. There are many types of liens and priorities. Easements are the rights to access a property for certain reasons. An example would be a road that goes through a property to access another property. Easements will also be defined and further described later.

By now the Real Estate Dictionary should have given you a basic idea of the different types of real estate possession types.