The term 'heirs and assigns' is often found in deeds and wills and is used to grant a fee simple estate, indicating that the property being transferred is granted to the heirs and designated assigns of the recipient.
Seisin refers to the legal possession of a property by an individual who asserts ownership, typically in the form of a fee simple estate, life estate, or other saleable interest.
Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.