1.2 Estates and Interests in Land

Question 1

What is a characteristic of a fee simple estate?

Answer 1

Its held subject to the crown’s land use regulations

Question 2

Who is and isn’t stated in a freehold will?

Answer 2

Remainderman is stated in will but a Reversioner isn’t

Question 3

What does a leasehold land include?

Answer 3

Includes first nations land and city owned, federal land

Question 4

What are the characteristics of joint tenancy?

Answer 4

Unity of time, title, interest, possesion and right of suvivorship. CAN’T WILL IT

Question 5

What are the characteristics of Tenants in common?

Answer 5

Has only one unity- possesion. OWners don’t have to have equal squares, $$, time in the property. CAN WILL IT. If no specification it’s tenants in common

Question 6

What’s the purpose of a building scheme?

Answer 6

maintain uniformity

Question 7

Commmon law types of waste

Answer 7

Voluntary, Permissive, Ameliorating

Question 8

Statue law types of waste

Answer 8

Equitable (destruction of a building)

Question 9

Life estate (charge) rights

Answer 9

Can use and occupy land, recieve revenue

Question 10

Life estate (aka life tenant) Obligations

Answer 10

Yearly expenses, waste, pays the interest on the mortgage

Question 11

What is a charcteristic of easment

Answer 11

Dominant and servient lot

LAND that benefits from an easment not the owner

Question 12

What is restrictive covenant

Answer 12

negative in nature, runs with land, binding on the parties