What is an interest in land?

An interest in land is a legal right to possess or benefit from real estate. In North Carolina, an interest in land includes the right to use the land, the right to sell or lease the land, the right to receive profits or rents from the land, and the right to transfer the land to someone else. A person can hold an ownership interest in land, which means they are the legal owner of the property and have the right to enjoy it and to transfer it to someone else. The most common form of ownership interest is a fee simple interest, which is an absolute ownership interest that passes to the owner’s heirs upon their death. Other types of interests in land include a leasehold estate, which is a tenant’s right to exclusive use and possession of the property for a set time period; an easement, which is the right of one party to make use of another party’s land for a particular purpose; and a life estate, which allows a person to possess the land for the remainder of their life, with ownership reverting to someone else upon their death. These interests in land are governed by the law of real property, which recognizes them as separate legal interests that can be acquired, conveyed, and sold. Under North Carolina law, an interest in land can be created or modified through a written document, such as a deed or lease. Parties should always ensure that any agreement involving an interest in land is properly documented so as to fully protect the rights of the parties involved.

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What is an interest in land?

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