ownership rights to realty Definition | Business Dictionaries from AllBusiness.com
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Business Definition for: ownership rights to realty
Dictionary of Real Estate Terms
ownership rights to realty

possession , enjoyment, control, and disposition.

Example: By virtue of title to the property, Overton enjoys full ownership rights to realty. This enables Overton to use the property, lease out the property, pledge it as security on loans, and sell the property within the restrictions of the law.

See also fee simple or fee absolute or fee simple absolute or fee simple estate , interest , tenancy
Related Terms:
fee simple or fee absolute or fee simple absolute or fee simple estate

absolute ownership of real property; owner is entitled to the entire property with unconditional power of disposition during the owner's life, and upon his death the property descends to the owner's designated heirs.

Example: The only power that can require Abel to sell his land is eminent domain; he owns the property in fee simple, so there is no other interest.

interest

  1. amount charged by a lender to a borrower for the use of funds. The interest rate is typically expressed on an annual basis. Interest equals principal x interest rate x period of time. For example, the interest on a $10,000, 8% loan for 9 months is: $10,000 x 8% x 9/12 = $600.
  2. equity ownership of an individual or other entity in a business or property expressed in percentage terms or in dollars. For example, if an investor company owns 50,000 shares of the investee company's 150,000 outstanding shares, the investor has a 331/2% ownership interest.

tenancy
Referring Terms:
possession
recording
seisin
Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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