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term:
Habendum
habendum n
[New Latin, from Latin, to be had, neuter of habendus, future passive participle of habēre to have, to hold (the first word of this part of the deed)]
: the part of a deed that limits and defines an estate of ownership granted and sometimes the type of tenancy by which the estate is to be held NOTE: The habendum is now often just a formality.
Source: Merriam-Webster’s Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.