Business, Legal & Accounting Glossary
Highest form of ownership in a piece of land. It represents absolute and unqualified rights of property possession, use, disposition, transfer, and sale, unencumbered by any other interest or estate. Of perpetual duration, it is subject only to the government limitations namely eminent domain, escheat, police power, and taxation.
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This glossary post was last updated: 20th November, 2021 | 0 Views.