16 Valuation · 16.1 Valuation principles and terminology
16.1.4 Interests in land: freehold, leasehold, life interest, licence and easements
A valuer values an interest, not just land: freehold (absolute, perpetual ownership), leasehold (right to enjoy for a term under TPA s.105), reversion, life interest, a licence (bare permission, no interest — Easements Act s.52) and easements (rights over another's land — s.4) each have their own value.
- MPSC ATP
- Standard level
- 8 min read
- Full course
Key terms
- freehold
- leasehold
- lease
- Transfer of Property Act 1882
- section 105 lease
- section 106
- section 107 registered instrument
- section 108
- building lease
- ground lease
- head lease
- sub-lease
- reversion
- life interest
- remainderman
- licence
- Indian Easements Act 1882
- section 52 licence
- section 4 easement
- dominant heritage
- servient heritage
- prescription twenty years
- mortgage section 58
- sale section 54
- gift section 122
- Class I occupant
- Class II occupant
- MLRC section 29
- wasting asset
- marriage value
What this note covers
- Core factsFoundation
- ExplainedStandard
- DeeperAdvanced
- Mains writingMains writing
- Common trapsFoundation
- Quick revisionFoundation
Read the full note in the app. It is part of the MPSC ATP full course in Medha AI. Free in the app: the first note of each topic.
All Valuation principles and terminology notes · MPSC ATP syllabus · MPSC ATP Mock Test 1 with answers · Start free
Medha AI writes its own notes and checks them against the sources listed. Medha AI is an independent preparation service. It is not affiliated with, endorsed by or connected to APPSC, TSPSC, MPSC, UPSC or any other commission or government body.