Termination
Termination of a profit can occur by a number of means, including:
- merger - if the owner of the profit acquires the land to which it applies, there is no longer any need for a separate right to take resources off it.
- release - the owner of the profit can execute a contract to surrender the profit to the owner of the land.
- abandonment - the owner of the profit ceases to make use of it for a sufficient length of time to lead a reasonable owner to believe that it will no longer be used.
- misuse - if a profit is used in such a way that it places a burden on the servient estate, then it will be terminated.
Read more about this topic: Profit (real Property)
Famous quotes containing the word termination:
“We hoped for a happy termination of this terrible war long before this; but God knows best, and has ruled otherwise.”
—Abraham Lincoln (1809–1865)