What does fee simple or leasehold mean?
What Does Leasehold Mean? A leasehold is an agreement between the fee simple owner and the lessee , or the person or group that will occupy the property in some form.
What does fee simple townhome mean?
Fee-simple in Chicago (the general, legal definition is below since it’s far less interesting) usually means that the home is a townhouse where there is no property held by an association. In fact, there is usually no association at all. To understand what this means, it might be easier to compare it to a typical Chicago condo or townhouse.
What is fee simple in real estate?
To recap what we’ve discussed:
- Fee simple is a form of ownership that the law views as unrestricted, absolute ownership of a property by the owner (s) listed on the deed.
- This is different from leasehold ownership in that the property belongs to the owner. ...
- Fee simple ownership still applies to mortgaged property. ...
What is fee land in Palm Springs?
When looking at property in the Palm Springs CA area you will often encounter the terms Fee Land or Lease Land . The term Fee always sends up peoples red flags but the reality is that you need to watch for Lease land . Fee Land comes from the term Fee Simple Ownership. Although that sounds like reverse logic it is just real estate lingo for paying for land and owning it outright.
What is fee lands?
What does "fee lands" mean?
What is subject land?
What is land in real estate?
What is Indian land?
What is riparian area?
What does "easement area" mean?
See 4 more
About this website
What is fee land mean?
In the United States, when you purchase property, it's most commonly “fee simple” (aka, “fee land”), which means that you own the land and the property.
What is fee patent land?
The “patent” is the title deed by which the federal government conveys or transfers land to people. “In fee” refers to the fee simple ownership in land. The term “patent-in-fee” describes the title document issued by the U.S. Federal Government to terminate the trust created by the trust patent issued to the allottee.
What is Navajo fee land?
Fee lands means land owned in fee simple within the exterior boundaries of the Southern Ute Indian reservations in Colorado. "Fee land" does not mean land owned by an Indian tribe or the federal government or held in trust by the federal government for the use or benefit of an Indian tribe or its members.
Is fee land Indian Country?
"Indian country" is defined in 18 U.S.C. § 1151 as including (1) federal reservations, whether created by statute or Executive Order, see Donnelly v. United States, 228 U.S. 243 (1913), including fee land, see United States v. John, 437 U.S. 634 (1978); Seymour v.
What is the difference between trust and fee land?
Fee simple ownership is the highest form of property possession. The owner can use the land for any legal purpose. Trust land is territory, whereby one party agrees to hold title to the property for the benefit of another party.
Can free patent land be sold?
Farmers holding agricultural free patents may now sell their land or use it as collateral after President Duterte signed a measure that removed Commonwealth-era restrictions on lands covered by the Public Land Act. The President signed the Agricultural Free Patent Reform Act, or Republic Act 11231, on February 22.
How much money does a Native American get from the government?
Ever wonder how much assistance the federal government allocates to American Indian tribes and communities each year? It comes to about $20 billion a year, give or take a few hundred million dollars, a document from the Department of the Interior shows.
Can Native Americans own reservation land?
Indians can't own land, so they can't build equity. Reservation land is held “in trust” for Indians by the federal government. The goal of this policy was originally to keep Indians contained to certain lands.
Can tribal land be sold?
A person belonging to a tribal community can buy or sell his/her land to another person belonging to another tribal community only.
Can you sell Indian land?
Unlike trust land fee (fee simple or fee patent) land generally means that an individual owns the property outright and that the land is not held in trust for a tribal member by the United States government. If there are no restrictions on it, land owners can gift or sell their fee land without BIA approval.
How do I find out if I have Native American land?
Just text your zip code or your city and state (separated by a comma) to (907) 312-5085 and the bot will respond with the names of the Native lands that correspond to that region.
Are Native Americans their own country?
The US Constitution recognizes that tribal nations are sovereign governments, just like Canada or California. Sovereignty is a legal word for an ordinary concept—the authority to self-govern.
What is a land patent used for?
A land patent is the only form of proof of absolute title to land in the United States. It protects the landowner from claimants of co-ownership as well as the United States government. A land patent is granted to the named party and his, her, or their heirs and assigns forever.
What is a free patent land title?
11231, an agricultural free patent is now a title in fee simple free of any restriction on its encumbrance or alienation. It applies retroactively such that any restrictions on the acquisition, encumbrances, or dispositions on agricultural free patents issued prior to the enactment of RA No.
What is the difference between a land patent and a deed?
A land patent, also called a letters patent, is a legal document issued by the federal government that grants an individual the title to land that is held by a government. When a patent is obtained, it can be treated as any deed is treated.
What is a land patent in Texas?
A patent is the legal instrument trans- ferring land from the public domain to private ownership. In Texas, the set of records, or title, documenting a land grant from Spanish or Mexican sover- eignty provide proof of ownership and are recognized by the state.
What Is Fee Simple Ownership?
10 Things to Consider When Buying a Home as a Pet Owner. Sep 24, 2022. If you want to include your four-legged friend in your home search, here are 10 things to consider when buying a home as a pet owner.
What Does "Fee Simple Ownership" Mean? | Pocketsense
Fee simple ownership is absolute property ownership. Within the confines of the law and local regulations, a person with fee simple ownership can make improvements to the property, sell the property or bequeath it to his heirs. Property rights are indefinite until the owner transfers ownership.
Restricted Fee Tribal Lands | U.S. Department of the Interior
testimony of donald "del" laverdure principal deputy assistant secretary for indian affairs u.s. department of the interior before the subcommittee on indian and alaska native affairs committee on natural resources u.s. house of representatives on h. r. 3532, american indian empowerment act february 7, 2012 good afternoon, mr. chairman and members of the subcommittee.
What happens if you sell your land to a land trust?
Sometime a landowner sells his or her land to the Land Trust for less than its fair market value. Besides making the purchase more affordable for the Land Trust , the landowner can claim the difference between the sale price and the fair market value as a charitable income tax donation. A partial donation, what is also called a “bargain sale,” also may reduce any capital gains tax for the landowner. As with other purchases, the Land Trust may decide to seek grant funding and private donations for the purchase of a partial donation.
What is a life estate?
With a life estate, landowners retain their right to live on the property while donating the property’s remainder interest to the Land Trust. With such a donation, landowners must uphold the property’s conservation values and continue to be responsible for its maintenance, taxes, and insurance. Upon their death or a specified date, the Land Trust assumes complete ownership. Landowners can qualify for a tax deduction based on the value of the remainder interest that is donated to the Land Trust.
Can you deduct land donation from taxes?
Like conservation easement donations, land donations can qualify as tax-deductible income tax donations if they benefit the public by permanently protecting important public conservation values and meet other federal tax code requirements.
Can you sell a donated property to the Land Trust?
The Land Trust welcomes the donation of property that is not suited for conservation. We can sell this type of property, known as “trade lands,” and use the proceeds to continue our mission of protecting important island properties. In some cases, when a donated property has some value for conservation but the Land Trust is not the appropriate fee owner, the Land Trust may sell the property with a reserved conservation easement to ensure those values are permanently protected.
What is a land trust?
Land trusts are good stewards of the lands they manage, and many here in Washington own substantial acreage for their conservation values, often working with both the public and partners for restoration and recreational opportunities . Land trusts manage their lands in accordance with best practices established by the Land Trust Alliance Accreditation Commission.
What happens if you sell your land to a land trust?
Sometimes a landowner sells his or her land to a land trust for less than its fair market value. Besides making the purchase more affordable for the land trust, the landowner can claim the difference between the sale price and the fair market value as a charitable donation. A partial donation, what is also called a “bargain sale,” also may reduce capital gains taxes for the landowner. As with other purchases, the land trust may decide to seek grant funding and private donations for the purchase of a partial donation.
What is a life estate?
Landowners who want to donate their land for permanent protection and continue living on the property may consider a life estate. With a life estate, landowners retain their right to live on the property while donating the property’s remainder interest to the land trust. The landowner must uphold the property’s conservation values and continue to be responsible for its maintenance, taxes, and insurance. Upon their death or a specified date, the land trust assumes complete ownership. Landowners can qualify for a tax deduction based on the value of the remainder interest that they donate to the land trust. The value of remainder interest is determined by IRS actuarial tables.
Is a land donation tax deductible?
When a landowner donates property to a land trust, they donate the property’s title and all of its rights and interest. Similar to conservation easement donations, fee land donations may qualify as tax-deductible charitable donations. The land donation must benefit the public by permanently protecting important conservation resources and meet other federal tax code requirements. As required by the IRS, the donation value or purchase price of the property is established by a qualified appraisal.
Is a nature preserve open to the public?
Not all nature preserves owned by land trusts are open to the public in order to protect to sensitive and rare plant and animal habitat. But land trusts across Washington own and manage nature preserves that you can visit and enjoy. Contact your local land trust to find a nature preserve near you. Here are a few places you can visit:
Can land trusts grant conservation easements?
Conversely, land trusts will sometimes grant conservation easements on land owned in fee by the land trust to an appropriate public agency —for example, to the state or county for park purposes.
Can a tribe lease land?
Section 2 (c) provides that once the land is transferred to restricted fee status, a tribe may lease the land, or grant an easement or right-of-way across it, without review and approval by the Secretary, notwithstanding the provisions of the Indian Long-term Leasing Act, 25 U.S.C. § 415.
Does the leasing of Indian land have a title to tribal land?
Additionally, since all of the leasing (and other encumbrance) statutes are delegations of Congressional authority to approve alienation of Indian land, and there is no authority to convey title to tribal land, Congress should clarify how this provision to remove restrictions on alienation should be read in conjunction with the previous provision imposing restrictions on alienation under 25 U.S.C. § 177.
What is FTT land?
Fee to Trust (FTT) land acquisitions, also called “land into trust,” transfer a land title to the United States of America to be held in trust for the benefit of an individual Indian or Tribe.
Is tribal self-determination only available on reservations?
Indeed, many federal programs and services are available only on reservations or trust lands. The current federal policy of tribal self-determination is built upon the principles Congress set forth in the Indian Reorganization Act and reaffirmed in the Indian Self-Determination and Education Assistance Act.
What is fee lands?
Fee lands means the fee lands owned by SELLER located in Cochise County, Arizona that are more particularly described in Part 2 of Exhibit "A" attached hereto.
What does "fee lands" mean?
definition. Open Split View. Fee lands means land owned in fee simple within the exterior boundaries of the Southern Ute Indian reservations in Colorado. " Fee land " does not mean land owned by an Indian tribe or the federal government or held in trust by the federal government for the use or benefit of an Indian tribe or its members.
What is subject land?
Subject Lands means the lands subject to or covered by the oil and gas leases described in Exhibit A, insofar and only insofar as they cover the Target Formation, subject to the exceptions, exclusions and reservations set forth on such Exhibit A.
What is land in real estate?
Lands means the purchase of real property or interest in real property.
What is Indian land?
Indian lands means all lands, including, but not limited to, mineral interests and rights-of-way, within the exterior boundaries of any federal Indian reservation, notwithstanding the issuance of any patent , including mineral interests held in trust for or supervised by any Indian tribe.
What is riparian area?
Riparian area means the transition area between flowing water and terrestrial (land) ecosystems composed of trees, shrubs and surrounding vegetation which serve to stabilize erodible soil , improve both surface and ground water quality , increase stream shading and enhance wildlife habitat.
What does "easement area" mean?
Easement Area means the area which is hatched on the plan.
Donation
Sale
- The Land Trust sometimes purchases land with outstanding conservation values. The Land Trust may decide to seek grant funding and/or private donations to buy such a property when a landowner is not in a position to donate it. The Land Trust also can work to find creative financing solutions when critical conservation properties fall under immediate threat from development.
Partial Donation
- Sometime a landowner sells his or her land to the Land Trust for less than its fair market value. Besides making the purchase more affordable for the Land Trust, the landowner can claim the difference between the sale price and the fair market value as a charitable income tax donation. A partial donation, what is also called a “bargain sale,” also may reduce any capital gains tax for th…
Life Estate
- Landowners who want to give their land to the Land Trust for permanent protection but wish to continue living on the property may consider a life estate. With a life estate, landowners retain their right to live on the property while donating the property’s remainder interest to the Land Trust. With such a donation, landowners must uphold the property’s conservation values and co…
Trade Lands
- The Land Trust welcomes the donation of property that is not suited for conservation. We can sell this type of property, known as “trade lands,” and use the proceeds to continue our mission of protecting important island properties. In some cases, when a donated property has some value for conservation but the Land Trust is not the appropriate fee ...
Do I Need to Make A Stewardship Contribution?
- It depends. When we agree to acquire a fee property, we take on significant stewardship responsibilities which are also liabilities. We maintain a stewardship reserve and legal defense fund to make sure we’ll be able to carry out these responsibilities long into the future. We request but do not require fee property donors to contribute to this fund. Landowners who are paid for a …