Chapter 37 Real Property. Learning Objectives. What rights does fee simple absolute ownership give to the owner? What are the requirements for acquiring property by adverse possession? What limitations may be placed on rights of property owners?
Ownership interests are classified as either Possessory or Non-Possessory:
Remainder Interest: Grantor assigns/transfers/sells her future interest to a 3P who now has a remainder. When Grantee dies, interest passes to 3rd Party.