A dominant estate is like a special piece of land that gets to use another piece of land, called a servient estate, for something important like a path or driveway. It's like when you share your toys with a friend so they can play too, but you still own your toys.
Encumbrances are claims or liens on a property that can affect the transferability and value of the asset. They include mortgages, easements, and restrictions that must be addressed before a property can be sold or refinanced.
Possession refers to the physical control or occupancy of an object or property, while ownership is a legal right that grants the holder the authority to use, manage, and dispose of the property. Ownership is recognized by law and can be transferred or inherited, whereas possession can exist without legal rights and is often temporary.
Rights of possession refer to the legal entitlements that allow an individual or entity to control, use, and manage a property or asset. These rights are fundamental to property law and can be subject to various limitations and conditions imposed by law or contractual agreements.
Subsurface rights refer to the ownership and entitlement of the minerals and resources found beneath the surface of a piece of land. These rights can be sold or leased separately from surface rights, allowing for the extraction of resources like oil, gas, and minerals without owning the land above.