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37-526: ASRC may refer to: Arctic Slope Regional Corporation , a U.S. federal contractor with business in the aerospace, defense, and other sectors Asylum Seeker Resource Centre , a support organisation for asylum seekers in Melbourne, Australia Australian and New Zealand Standard Research Classification Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with

74-483: A life estate. Many jurisdictions retain the possibility of creating a life estate , although this is uncommon. In the United States, life estates are most commonly used either to grant someone use of the property for the remainder of that person's life in a will, or by a grantor to reserve the right to continue using the property for the remainder of the grantor's life after it is sold. The right to ownership of

111-599: A lunar base. ASRC Aerospace is the prime contractor for the University-Affiliated Spaceport Technology Development Contract (USTDC) to design ground support equipment and develop new technologies. The company has been engaged in designing the new mobile launcher and modifying the launch pads. ASRC has also been involved in other scientific research. The USTDC contract expired on October 31, 2010 and future contracts at Kennedy Space Center remain uncertain, given

148-604: A parcel of the land and grant it as a subordinate fief to his own sub-tenant, a process known as sub-enfeoffing or " subinfeudation ". The 1290 Statute of Quia Emptores abolished subinfeudation and instead allowed the sale of fee simple estates. William Blackstone defined fee simple as the estate in land that a person has when the lands are given to him and his heirs absolutely, without any end or limit put to his estate. Land held in fee simple can be conveyed to whomsoever its owner pleases; it can also be mortgaged or put up as security. Owners of real property in fee simple have

185-744: A quarter of the oil production at the Alpine site. Production started in the fourth quarter of 2015 from the new CD-5 drill site, located to access both the Nanuq Kuparuk and the Alpine Participating Areas. Additionally, in late 2015 the Bureau of Land Management issued the remaining outstanding permits providing for development of the Greater Mooses Tooth 1 (GMT1) development. ASRC is the majority subsurface owner for

222-426: A term of years, a lease for a specified term, such as in an estate for years . A fee also could be limited through the method of its inheritance, such as by an "entailment", which created a fee tail . Traditionally, fee tail was created by words of grant such as "to N. and the male heirs of his body", which would restrict those who could inherit the property. If no heirs could be found, then the property would revert to

259-410: Is a "fee simple absolute", which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination). The rights of the fee-simple owner are limited by government powers of taxation , compulsory purchase , police power , and escheat , and may also be limited further by certain encumbrances or conditions in

296-753: Is a fuel and automotive parts distributor and Top of the World Hotel,a hotel which operates Tundra Tours, Inc. tour programs. ASRC is one of the largest private landowners in Alaska, with ownership in fee simple of 5 million acres of land. ASRC has a royalty position in the Colville River (Alaska) Unit (CRU), home of the Alpine, Alaska oil field. Alpine field production peaked in November 2005, but as of 2012 CRU satellite developments account for nearly

333-549: Is a subsidiary of Arctic Slope Regional Corporation (ASRC). ASRC Aerospace is an enterprise formed in November 1997. Headquartered in Greenbelt , Maryland , ASRC Aerospace supports 15 major contracts providing a base of over 1000+ personnel. The company's segments are multiple operating units engaging primarily in U.S. Government contracts. ASRC Aerospace at one time had about 100 projects at NASA Kennedy Space Center. These projects included studies on lightning strikes and how

370-475: Is based in Tempe, Arizona and comprises three operating groups: 1) Maintenance, Mechanical and Specialty Services, 2) Cleaning, Demolition and Remediation and 3) Engineering, Inspection and Professional Services. These are delivered by 24 companies. ASRC Construction’s services fall into four categories: buildings, civil and infrastructure and building materials, delivered by 4 different companies. Eskimos, Inc.

407-412: Is created when a grantor places a condition on a fee simple estate (in the deed ). When a specified event happens, the estate may become void or subject to annulment. There are two types of defeasible estates: fee simple determinable and the fee simple subject to a condition subsequent. If the grantor uses durational language in the condition such as "to A. as long as the land is used for a park", then upon

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444-514: Is what is owned rather than the land it represents. The fee simple estate is also called "estate in fee simple" or "fee-simple title", or sometimes simply "freehold" in England and Wales. From the start of the Norman period, when feudalism was introduced to England, the tenant or "holder" of a fief could not alienate (sell) it from the possession of his overlord. However, a tenant could separate

481-628: The George M. Low award to ASRC Aerospace Corporation on February 26, 2008 in recognition of sustained, high quality performance in launch site design engineering, project management, technology development, and technical support services. In 2016, ASRC was ranked as the fourth best of 92 oil, gas, and mining companies on indigenous rights in the Arctic. In 2021, ASRC was ranked as no. 14 most environmentally responsible company out of 120 oil, gas, and mining companies involved in resource extraction north of

518-493: The United States , fee simple owners are usually subject to property tax and the revenue generated is directed to the municipality's general fund. Other local tax assessments called "special purpose taxes" may be assessed in addition to the property taxes for specific purposes such as infrastructure improvements. Real estate owned as a condominium is usually similarly owned in fee simple, but typically subject to rules in

555-465: The deed , such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional . The word "fee" is related to the term fief , meaning a feudal landholding. Feudal land tenures existed in several varieties, most of which involved the tenant having to supply some service to his overlord, such as knight-service (military service). If

592-405: The 429 million-barrel Alpine Oil Field, which started production in 2001. In 2015, its gross revenue was $ 2.5 billion. Since inception, it has delivered over $ 915 million as dividends to shareholders. Since 2000, it has distributed $ 90 million to support socioeconomic opportunities in the area, including scholarships and training programs to qualified Iñupiat. ASRC Aerospace Corporation

629-586: The Arctic Circle in the Arctic Environmental Responsibility Index. Fee simple In English law , a fee simple or fee simple absolute is an estate in land , a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law , whereas the highest possible form of ownership

666-399: The United States. To convey an estate in fee simple at common law, the deed or will must state "to B and his heirs". Anything short of those words transferred a smaller estate. Modern deeds usually follow a standardized form. There is a presumption that the testator intends to convey his or her property in fee simple unless the will indicates an intention to transfer a smaller estate, such as

703-746: The agency's direction to abandon the Constellation program as well as the scheduled end of the Space Shuttle Program. ASRC Aerospace has laid-off approximately 20% of its workforce in 2010 on the USTDC contract, including subcontractors. For its work at NASA KSC and other field centers, Florida Lt. Governor Toni Jennings awarded ASRC Aerospace 2006 Florida Space Business Award for leadership in innovative approaches to developing breakthrough technologies for space exploration. The National Aeronautics and Space Administration (NASA) presented

740-637: The associated magnetism could affect launch operations for the shuttle fleet. The company also has designed lightning arresters to protect the Ares rocket , which was planned to replace the Space Shuttle prior to the Obama administration's decision to cancel the Constellation Program . The company also has completed the analysis and design of a concept for an electrostatic shield to protect

777-430: The conveying document's language is unclear. The claim that no rent or similar obligations are due from the owner of property in fee simple is only partially true. For example, a rentcharge may exist requiring a freeholder to pay a fixed sum of money closely resembling rent, and many jurisdictions have created financial obligations that may be imposed on a freehold estate. England and Wales impose an estate charge . In

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814-415: The declaration of condominium or created by the condominium association, such as paying required monthly fees for maintaining the property's common areas; however, these are generally treated legally as covenants running with the land (contracts binding on the possessors of real property) imposing an affirmative duty to pay money rather than as rent for property held in fee simple. Fee – A right in law to

851-452: The donor's lifetime. If previous grantors of a fee simple estate do not create any conditions for subsequent grantees, then the title is called fee simple absolute . A fee simple absolute is the highest estate permitted by law, and it gives the holder full possessory rights and obligations now and in the future. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable ) estates. A defeasible estate

888-408: The grantor; this is a fee simple subject to a condition subsequent. In most jurisdictions in the United States these concepts have been modified by statute. Fee simple determinable was generally preferred by courts in the common law of the early United States. Recently, that trend has reversed, and most courts in the United States will find a fee simple subject to condition subsequent in situations where

925-426: The happening of the specified event (in this case if the land is used for anything other than a park), the estate will automatically terminate and revert to the grantor or the grantor's estate; this is called a fee simple determinable. If the grantor uses language such as "but if alcohol is served", then the grantor or the heirs have a right of entry if the condition occurs, but the estate does not automatically revert to

962-623: The initial GMT1 development located eight miles west of CD-5. ASRC is served by a 15-member board of directors . Seven of the members are residents of Wainwright , Point Lay , Point Hope , Nuiqsut , Anaktuvuk Pass , Atqasuk and Kaktovik , five are from Utqiaġvik , and three are “At Large” seats. As of 2023 executive officers were Rex A. Rock Sr., President and CEO, and Butch Lincoln, Executive VP, Chief Operating Officer, Charlie Kozak, Executive VP, Chief Financial Officer and Crawford PatkotakExecutive VP, Stakeholder Engagement. Rock and Lincoln earned nearly 18 million US$ in 2021. After ASRC

999-1026: The lower US. It consists of the following different subsidiaries : ASRC Federal consists of 19 companies, with more than 8,000 employees in over 40 states across the U.S., which contract U.S. Federal government services. These companies deliver engineering, information technology, infrastructure support, professional and technical services to civil, defense and intelligence agencies: namely ASRC Federal Agile Decision Sciences, ASRC Federal Analytical Services, ASRC Federal Astronautics, ASRC Federal Communications, ASRC Federal Cyber, ASRC Federal Data Network Technologies, ASRC Federal Data Network, ASRC Federal Data Solutions, ASRC Federal Data Networks Corporation, ASRC Federal Field Services, ASRC Federal InuTeq, ASRC Federal Mission Services, ASRC Federal Mission Solutions, ASRC Federal Primus, ASRC Federal Research and Technology Solutions, ASRC Federal Space and Defense, ASRC Federal System Solutions, ASRC Federal Technical Services, and ASRC Federal Vistronix. ASRC owns Petro Star Inc. ,

1036-714: The only Alaskan-owned refining and fuel marketing operation in Alaska with 2 refineries along the Trans-Alaska Pipeline System : the North Pole Refinery and Valdez refinery. It owns the North Pacific Fuel and Sourdough Fuel brands. ASRC Energy Services and Little Red Services provide oil field services and employ 2,300 Alaskans alone. They provide hot-oil service, inspecting and flushing oil well tubing and surface lines with fluids to remove accumulated deposits ASRC Industrial

1073-508: The original grantor's heirs. Most common law countries have abolished entailment by statute. An estate in fee simple denotes the maximum ownership in land that can be legally granted; it is the greatest possible aggregate of rights, powers, privileges and immunities available in land. The three hallmarks of the fee simple estate are that it is alienable , devisable and descendible . Rules requiring words of general inheritance to create fee simple by conveyance have been abolished by statute in

1110-402: The privilege of interest in the property during their lifetime and typically have a say in determining who gets to own an interest in the property after their death. Historically, estates could be limited in time. Common temporal limitations include life estate , a land ownership that terminates upon the grantee's (or another person's) death even if the land had been granted to a third party, or

1147-399: The property after the death of the life estate owner is called the remainder estate . In England and Wales fee simple is the only freehold estate that remains; a life estate can only be created in equity and is not a right in property. In the United States, retained life estates are often used by donors who intend to leave property as bequests to charitable organizations while retaining

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1184-448: The tenant's overlord was the king, grand serjeanty , then this might require providing many different services, such as providing horses in time of war or acting as the king's ceremonial butler. These fiefs gave rise to a complex relationship between landlord and tenant, involving duties on both sides. For example, in return for receiving his tenant's fealty or homage , the overlord had a duty to protect his tenant. When feudal land tenure

1221-494: The title ASRC . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=ASRC&oldid=1079694530 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Arctic Slope Regional Corporation Arctic Slope Regional Corporation

1258-400: The use of the property during their lifetimes. The donor receives a tax deduction for the gift of their remainder interest in the property, and at the donor's death, the property passes to the organization without being subject to probate . Retained life estate gifts often involve agreements about acceptable uses of the property, payment of real estate taxes, property maintenance, etc. during

1295-540: Was abolished, all fiefs became "simple", without conditions attached to the tenancy. In English common law, the Crown had radical title or the allodium of all land in England, meaning that it was the ultimate "owner" of all land in the past feudal era. Allodial title is reserved to governments under a civil law structure. However, the Crown can grant ownership in an abstract entity – called an estate in land – which

1332-552: Was created in 1971, it received a share of the $ 963 million provided by the Alaska Native Claims Settlement Act , plus a number of acres of land in proportion to the size of villages in its region. It was able to define and obtain title to parcels of land without restriction to any former title or land claim. It engaged experts to identify land with significant potential for petroleum, timber, fish, game, and tourist development. Its lands include half of

1369-548: Was created under the Alaska Native Claims Settlement Act of 1971. The initial shareholders were the 13,000 Iñupiaq Eskimos listed in the 1970 US census. Since April 1990 ASRC’s shareholder base grew from 3,700 shareholders in 1972 to about 14,000 today. ASRC is a private for profit corporation, with headquarters in Utqiaġvik, Alaska , and administrative offices in Anchorage . As of 2023, ASRC had 15,000 employees in Alaska and

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