PROPERTY LAW
WHAT IS LAND?
Minerals
Airspace
Ground
Plants
Incorporeal hereditaments – patents, copyrights, investments
Erections
Fixtures
- Fixed
- Makes land better
Chattels
- Unfixed
- Degree of annexation (attachment)
- Purpose of annexation
Types of Ownership
1. Freehold property
- Outright ownership of land/property for an unlimited period of time
held subject to the Crown
- Absolute ownership
- Value is maintained when property market remains even
- Increase/Decrease in value when price rise/drop
2. Leasehold property
- A fixed term of years – set period of time
, PROPERTY LAW
- Owner leases property to a paying tenant for a specified length of
time
- Lease = Contract between lessor(landlord) & lessee(tenant)
- Up to 3 years – Verbal or Written
- Over 3 years – By deed
- “License(permission) to occupy” is NOT a lease:
o Monthly rent
o Exclusive use
o Agreed length
- Three essentials:
o Exclusive possession
Occupation – presumption, but
Shared occupancy
Limited rights
Linked to service providers
Lodgers – no exclusive possession, no lease
o Definite term
On a month to month basis – common in residential
after fixed term start
For the remainder of his/her life
o Payment of rent
3. Co-ownership
- 2+ people owning land either:
o Joint Tenants
Both owners own the whole
If one owner dies, the other owner owns 100%
o Tenants in common
Both owners own a %
If one owner dies, their interest can be disposed of
through their will/trust
Rights Over Land of Others
Easements
- Right to use the land of another
- Right to restrict that other person from using his land in a particular
way
WHAT IS LAND?
Minerals
Airspace
Ground
Plants
Incorporeal hereditaments – patents, copyrights, investments
Erections
Fixtures
- Fixed
- Makes land better
Chattels
- Unfixed
- Degree of annexation (attachment)
- Purpose of annexation
Types of Ownership
1. Freehold property
- Outright ownership of land/property for an unlimited period of time
held subject to the Crown
- Absolute ownership
- Value is maintained when property market remains even
- Increase/Decrease in value when price rise/drop
2. Leasehold property
- A fixed term of years – set period of time
, PROPERTY LAW
- Owner leases property to a paying tenant for a specified length of
time
- Lease = Contract between lessor(landlord) & lessee(tenant)
- Up to 3 years – Verbal or Written
- Over 3 years – By deed
- “License(permission) to occupy” is NOT a lease:
o Monthly rent
o Exclusive use
o Agreed length
- Three essentials:
o Exclusive possession
Occupation – presumption, but
Shared occupancy
Limited rights
Linked to service providers
Lodgers – no exclusive possession, no lease
o Definite term
On a month to month basis – common in residential
after fixed term start
For the remainder of his/her life
o Payment of rent
3. Co-ownership
- 2+ people owning land either:
o Joint Tenants
Both owners own the whole
If one owner dies, the other owner owns 100%
o Tenants in common
Both owners own a %
If one owner dies, their interest can be disposed of
through their will/trust
Rights Over Land of Others
Easements
- Right to use the land of another
- Right to restrict that other person from using his land in a particular
way
