Arizona Laws 12-1220. Partition involving future estates; title of property after partition
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A. When a partition is made between an owner who holds an estate for a term of years or for life with others who hold equal or greater estates, the partition shall not be prejudicial to those entitled to the reversion or remainder of such estates.
Terms Used In Arizona Laws 12-1220
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
B. Each party to whom a share is allotted shall hold the share in severalty under the same conditions and covenants that it was held before partition was made, and no warranty, lease or right whatsoever shall be impaired or affected by the partition.