What is an interest in land?

An interest in land is a legal term that refers to a type of right that a person may have in relation to a particular piece of real estate. In Arizona, these interests are established by the execution of a document such as a deed or lease. These interests provide a person with certain legal rights in relation to the real estate, such as the right to possess, enjoy, or even sell the property. There are many types of interests in land that exist in Arizona. Examples include fee simple absolute, a leasehold estate, a life estate, and a possessory interest. Fee simple absolute is when the owner has an unrestricted and absolute right to use, possess, and dispose of the property. A leasehold estate is when an owner has an exclusive right to use and possess the land for a specific period of time. A life estate is a possessory interest that is held by a person for their lifetime, after which the interest is transferred to another party. Finally, a possessory interest is an exclusive right to a possession of the land that does not involve the transfer of ownership.

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