interest in property

interest in property

The extent of ownership in property.
References in periodicals archive ?
(38) A mortgagee has an insurable interest in property encumbered by a mortgage because it stands as security for the mortgagee's loan.
2702 to limit the benefits of certain trusts in which a grantor retains an interest in property and the remainder passes to a family member.
Citing a long and unbroken line of cases holding that an owner's interest in property may be forfeited by reason of the property's use, even though the owner was unaware of that use, the Court concluded that the issue is "too firmly fixed in the punitive and remedial jurisprudence of the country to be now displaced."(26) The Court relied on the rationale of earlier decisions to find that even though Mrs.
2036 to a sale of a remainder interest in property; it concluded that "full and adequate consideration must equal the full value of the property in which the remainder interest is purchased, not the value of the remainder interest determined under the Service tables." The Fifth Circuit reversed the district court's decision, in effect adopting and reinforcing the Third Circuit's reasoning in D'Ambrosio.