Estate

Estates are classified into two types: freehold and nonfreehold. The freehold estates found in modern property law are the fee simple and the life fee. The fee simple estate is essentially absolute ownership of land, including the power to devise by will or to sell. The life fee estate is the right to control property [...]

Real Estate

Real Estate, in broad definition, land and everything made permanently a part thereof, and the nature and extent of one’s interest therein. In law, the word real, as it relates to property, means land as distinguished from personal property; and estate is defined as the interest one has in property. Real estate may be [...]

Mortgage

Mortgage, legal instrument that pledges a house or other real estate as security for repayment of a loan. By providing a guarantee that the loan will be paid back, a mortgage enables a person to buy property without having the funds to pay for it outright. If the borrower fails to repay the loan, the [...]