chattel real

Definition of "chattel real"
  1. A type of property interest that involves a stake in an immovable asset—like land or a building—where the interest is significant but falls short of a full ownership or freehold estate
How to use "chattel real" in a sentence
  1. When the business leased the office space, it acquired a chattel real which gave the company certain rights to the property.
  2. Although he doesn't fully own the land, his lease agreement grants him the rights of a chattel real.
  3. For the length of their 10-year lease, the corporation holds a chattel real in the downtown office building.

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