land law in the Bahamas
full text here:
http://www.jonesbahamas.com/?c=135&a=13985
3rd September
The Bona fide Purchaser for Value of a Legal Estate Without Notice
The above equitable principle is capable of confusing academic and professional lawyers because of its ramifications in real life situations. It is difficult to understand the doctrine without a clear understanding of some basic principles of Land Law. Our Land Law in The Bahamas fundamentally draws from English Land Law. Thus, let us explain the concept of ownership under English Real Property Law. English Law generally does not recognize the concept of absolute ownership of land by any subject of the Crown. Thus, all land belongs to the Crown and as such only the reigning monarch for the time being can enjoy absolute ownership. All that a subject can enjoy is an “estate” in the land, which gives him or her the right to occupy the land for either an indeterminate or a fixed period of time depending upon the nature of the estate. Whenever we talk of estate we are referring to the nature or kind of interest that one may have in land in light of the fact that the concept of ownership does not exist under English Land Law. Initially, the king will grant the use of land to persons as tenants of a life estate. This estate which relates to tenure or use of the land in the highest degree is what is commonly referred to as “fee simple estate”. The word “fee” indicates that the estate is capable of being inherited. This interest or estate in the land can be alienated or sold or transferred even by a gift to another party and the third party will acquire an interest or estate in the land subject to the original grant. He can equally leave the property by Will to persons of his choice. The Fee Simple, however, lives on and one should appreciate the fact that although in reality it may effectively go on forever, the fact remains that it gives no more than the right to occupy the land for a period of time, and if the owner dies, without the statutory next of kin (who takes the place of heirs after 1925) the land reverts to the Crown. This is called Escheat.
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