If borrower defaults, the lender may foreclose and repossess the property.
Key Vocabulary Recap
Real Property / Personal Property: Land vs. movable items
Estate in Land: Legal interest (e.g., freehold or leasehold)
Fee Simple / Life Estate / Lease: Ownership types
Title / Deed: Ownership and transfer
Easement: Limited right to use another’s land
Landlord & Tenant Law: Rental relationships
Mortgage: Loan secured by property
Conveyancing: Property transfer process
Zoning: Land use regulation
ConclusionReal property law governs rights and obligations tied to land ownership and use. Understanding estates, leases, easements, and zoning is essential for anyone involved in property law, real estate, or land development. These foundational principles apply across English-speaking jurisdictions and shape how property is used, transferred, and regulated.
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