2.0 PROPERTY

Question 1

REAL PROPERTY

Answer 1

Land and things attached to land

1. Land
   a. Fee simple
   b. Oil, gas, mineral rights
2. Buildings
3. Fixtures

Question 2

PERSONAL PROPERTY

Answer 2

An item can change from being one to another

1. Tangible (chattels)
2. Intangible
   a. Intellectual property (trade secrets, copyright, patents, trademarks, industrial design)
   b. Licenses and royalty rights

Question 3

FEE SIMPLE

Answer 3

Real property

Greatest right an individual can have in real property

Includes right to sell, lease, occupy, mortgage

Can be held jointly

Question 4

Mines, minerals, oil and gas - free vs. Crown

Answer 4

Real property

Crown minerals: minerals not transferred to private owner (retained by provincial or federal government)

Freehold minerals: minerals transferred eg. CPR, Hudson Bay co., early settlers

right to resources (includes right to access land and extract minerals) generally excluded from fee simple rights

Question 5

How to register real property

Answer 5

Torrents system (SK)

Certificate of title

Registered through ISC (info service Corp)

Question 6

Lease

Answer 6

Exclusive right to occupy property

Question 7

Mortgage

Answer 7

Use property as security for a debt or line of credits

Question 8

Easement

Answer 8

Right to use property in some way eg. Road

Question 9

Restrictive covenant

Answer 9

Puts conditions of use on property

Question 10

License

Answer 10

Provides contractual right to use property in some way

Question 11

Profit a prendre

Answer 11

Right to extract value eg. Gravel

Question 12

Lien

Answer 12

Statutory right to register a debt against land eg. Construction

Question 13

Chattels

Answer 13

Personal property

Tangible

Goods

Eg. Car, cellphone

No registry for ownership, only register for security purposes

SK Personal Property Registry

Question 14

Intellectual property

Answer 14

Protects EXPRESSION of ideas

Can be viewed as bundle of rights

Governed by federal legislation and international treaties

Question 15

Copy right

Answer 15

Intellectual property

Protects works

Eg. COMPUTER SOFTWARE, ENG DRAWINGS

term of protection in Canada = 50 years

Can be contractually assigned (sold or licensed)

Moral rights can’t be assigned but can be contractually waived

Protection not dependent upon registration

Question 16

Patents

Answer 16

Intellectual property

Protects INVENTIONS

eg. Process, machine, improvements

Inventions must be new and useful

No protection without registration or if publicly disclosed before registration

Term of protection in Canada = 20 years (non renewable)

Question 17

Trademarks

Answer 17

Intellectual property

Protects marks used to distinguish goods or services

Eg. Coke

Must be distinctive and actually used to be registerable

Registration gives the right to exclusive use of trademark throughout Canada

Term of protection 10 years, renewable

Question 18

Industrial designs

Answer 18

Intellectual property

Protects shapes, configuration, and look of mass produced items

protection 10 years

Question 19

Integrated circuit technologies

Answer 19

Protects DESIGN OF INTEGRATED CIRCUITS in electronic equipment

Has to be registered to be protected

Protection 10 years