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Profit (real estate) - Wikipedia, the free encyclopedia |
 | | A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. |
 | | Like an easement, profits can be created expressly by an agreement between the property owner and the owner of the profit, or by prescription, where the owner of the profit has made "open and notorious" use of the land for a continuous and uninterrupted statutory period. |
 | | Profits can also be exclusive (guaranteeing the owner of the profit that no other person will be given the right to collect the specified resources on the land). |
| en.wikipedia.org /wiki/Profit_(real_estate) (436 words) |
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