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After setting forth the history necessary to the reader's understanding of our modern estates system, the monograph in separate chapters treats all of the freehold estates, nonfreehold estates, present interests, future interests, and concurrent estates. It also discusses the conveyancing and recording systems prevalent in the United States. While this edition adheres closely to the highly regarded prior editions, it updates the material to take into account developments in the just completed Third Restatement of Property (Wills and Other Donative Transfers).