chapter eight

Chapter eight discusses ownership and the property rights of owners. Quitclaim deed, warranty deed, and special warranty deed are the way that ownership interests are transferred to another. This is done with the transfer of a title. These ownership rights may be known as an estate. Fee simple means the right to exclusive possession of a piece of property. Tenancy, life estate, trust, and business trust are ways to transfer these pieces of property. Servitudes and covenants are limitations on the use of the land being transferred. If a piece of land being transferred is land locked, there may be an easement granted to the new landowner so the new landowner can enter the piece of property from a frontage road. The government has the right to zone land for certain use. The government also has the right to acquire land--eminent domain--for special use. The government is required to pay a fair price for this land acquisition. These rights are listed under the Fifth Amendment.