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There are many different kids of real estate “Estates”. Here are some definitions worth familiarizing yourself with.

From Wikipedia:

Estates and ownership interests defined.

The law recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, or bill of sale through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a “tenant.”

Some important types of estates in land include:

• Fee simple: An estate of indefinite duration, that can be freely transferred. The most common and perhaps most absolute type of estate, under which the tenant enjoys the greatest discretion over the disposition of the property.
• Conditional Fee simple: An estate lasting forever as long as one or more conditions stipulated by the deed’s grantor does not occur. If such a condition does occur, the property reverts to the Grantor, or a remainder interest is passed on to a third party.
• Fee tail: An estate which, upon the death of the tenant, is transferred to his heirs.
• Life estate: An estate lasting for the natural life of the grantee, called a “life tenant.” If a life estate can be sold, a sale does not change its duration, which is limited by the natural life of the original grantee.
  • A life estate pur autre vie is held by one person for the natural life of another person. Such an estate may arise if the original life tenant sells her life estate to another, or if the life estate is originally granted pur autre vie.
• Leasehold: An estate of limited duration, as set out in a contract, called a lease, between the party granted the leasehold, called the lessee, and another party, called the lessor, having a longer lived estate in the property. For example, an apartment-dweller with a one year lease has a leasehold estate in her apartment. Lessees typically agree to pay a stated rent to the lessor.

A tenant enjoying an undivided estate in some property after the termination of some estate of limited duration, is said to have a “future interest.” Two important types of future interests are:

• Reversion: A reversion arises when a tenant grants an estate of lesser maximum duration than his own. Ownership of the land returns to the original tenant when the grantee’s estate expires. The original tenant’s future interest is a reversion.
• Remainder: A remainder arises when a tenant with a fee simple grants someone a life estate or conditional fee simple, and specifies a third party to whom the land goes when the life estate ends or the condition occurs. The third party is said to have a remainder. The third party may have a legal right to limit the life tenant’s use of the land.

Estates may be held jointly as joint tenants with rights of survivorship or as tenants in common. The difference in these two types of joint ownership of an estate in land is basically the inheritability of the estate. In joint tenancy (sometimes called tenancy of the entirety when the tenants are married to each other) the surviving tenant (or tenants) become the sole owner (or owners) of the estate. Nothing passes to the heirs of the deceased tenant. In some jurisdictions the magic words “with right of survivorship” must be used or the tenancy will assumed to be tenants in common. Tenants in common will have a heritable portion of the estate in proportion to their ownership interest which is presumed to be equal amongst tenants unless otherwise stated in the transfer deed.

Real property may be owned jointly with several tenants, through devices such as the condominium, housing cooperative, and building cooperative.

Also, these are some other definitions I have found.

• Estate: The degree, nature, extent of interest that a person has in Real Property. See fee simple above.
• Estate in Sufferance: the wrongful occupancy of a property by a tenant after the lease has expired.
• Estate at Will: The occupation of real estate by a tenant for an indefinite amount of time or period and is terminable by one or both parties involved.
• Estate for Life: An interest in property that terminates upon death of a specified person.
• Estate for Years: An interest in land allowing the possession for a specified limited amount of time.
• Estate in Reversion: An estate left by a Grantor for himself or herself, to begin after termination of some particular estate granted by him or her.
• Estate in Severalty: Tenancy by one person or legal Corporation.

It is good to be familiar with different types of Estates in order to understand how this might involve your investment in these properties. For more information, talk to your Rea Estate Attorney and get proper legal advise.

Note: All postings on this site (Reinvestology.com) are not meant to be utilized for anything other than information purposes. Always consult with the proper legal expert when making investment decisions.

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We are excited to announce the launch of bloggingagent.com today. We have had a post up since April, but today is our official launch.

What is bloggingagent.com? Well, to put it simply, it is a blog about the utilization of social media for real estate professionals. So if you are a real estate professional and want to expand your network, promote your properties, find new leads, or put yourself out there for the world to find you, then this will be the site for you.

We will be posting tons of free content on how to be a better connected real estate professional. We will also be offering up our services for a fee to those of you who don’t have the time or expertise to make yourself socially connected.

So if you don’t have a facebook page, don’t use twitter, or haven’t started a blog yet. We are the guys for you. Stop by and check us out at bloggingagent.com and we look forward to hearing from you. Also, take the time to subscribe to our feeds in the upper right hand corner of the site. Also, follow us on Twitter.

All of us at Hanse Company look forward to continually bringing you Reinvestology “The Science of Smart Real Estate Investing™” and now BloggingAgent.

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What is LIBOR? It is the London Interbank Offered Rate. Wait, what is it?

It’s the rate of interest at which banks offer to lend money to one another in the wholesale money markets in London. It is a standard financial index used in U.S. capital markets and can be found in the Wall Street Journal. In general, its changes have been smaller than changes in the prime rate.

This is how it is used:

It’s an index that is used to set the cost of various variable-rate loans. Lenders use such an index, which varies, to adjust interest rates as economic conditions change. They then add a certain number of percentage points called a margin, which doesn’t vary, to the index to establish the interest rate you must pay. When this index goes up, interest rates on any loans tied to it also go up. Although it is increasingly used for consumer loans, it has traditionally been a reference figure for corporate financial transactions.

This is where it is used often:

LIBOR rates are widely used as a reference rate for financial instruments such as:

• forward rate agreements
• short-term interest rate futures contracts
• interest rate swaps
• inflation swaps
• floating rate notes
• syndicated loans
• variable rate mortgages^[1]
• currencies, especially the US dollar (see also Eurodollar).

They thus provide the basis for some of the world’s most liquid and active interest rate markets.

For the Euro, however, the usual reference rates are the Euribor rates compiled by the European Banking Federation, from a larger bank panel. A Euro LIBOR does exist, but mainly for continuity purposes in swap contracts dating back to pre-EMU times. LIBOR is just an estimate and not interred in the legally binding contracts of an LLC

Check your Home Equity Line of Credit (HELOC) or your ARM Mortgage, more than likely it is tied to the LIBOR. So know you know. Time to start keeping an eye on the LIBOR rate. Don’t you think?

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