2. In real property, the broadest term applicable to claims on real estate, including any right/title/estate/lien on real property. Interest thus refers to the legal concern of a person in the property (or in the right to some of the benefits from which the property is inseparable).
- EXECUTED INTEREST
- an interest in property presently enjoyed/possessed by a party.
- EXECUTORY INTEREST
- interest in property that may become actual in the future (or upon the occurrence of some event).
- COMPOUND INTEREST
-
interest that is paid upon:
(i) the principal sum; and Thus, interest already paid/accrued becomes part of the principal – for purposes of subsequent interest calculations.
(ii) the interest that has previously been paid [on that principal].
