Business, Legal & Accounting Glossary
A ghastly term for a right that can be sold along with land or property, and which affects other land or property than that sold. For example, if the owner of land X has a right of access from land Y, and if X can sell that right when he sells his land, then he has an ‘incorporeal hereditament’ effective against the owner of Y. A less ugly term for this meta of right is a Servitude.
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This glossary post was last updated: 6th April, 2020 | 3 Views.