ch 13 Flashcards
real property
land, buildings, things attached to land
giant carrot theory
ownership extends from the centre of the earth to the skies
estate in land
a grant for an exclusive right to possession for a period of time
types of estates
fee simple
life estate
leasehold
fee simple estate (freehold estate)
person with fee simple owns the land
can use property as wishes
may dispose of property at any time - sale, gift or will
closest estate in land to giving complete ownsership
limitations on rights of fee simple ownership
tort obligations associated with land - occupiers liability rule in Rylands v Fletcher, nuisance
govt regulation - and use regulations; planning, zoning, building regulations, municipal by laws, environmental regulations
expropriation - forced sale to govt for legit reason
nonposessory interests
life estate
right to exclusive posession of property during lifetime
- automatically terminates upon death - no right to dispose of property during lifetime or upon death
life estate - reversion and remainder
reversion: returns to grantor or grantors estate
remainder: goes toperson designated by the grantor
life estate - waste
life estate holder liable for waste during time in possesion - an act that significantly reduces the value of the land
parties to a life estate
grantor: person making the life estate (fee simple owner of the land)
grantee: person receiving the life estate (the life tenant)
reversionary interest: land transfers back to the original owner (or heirs)
remainder interest: land transfers to designated person upon death of life tenant
leashold estate
right to exclusively possess the property for a specified period
- period of time must be state at the outset of the lease contract
forms of ownership
individual - one party owns land
shared - more than one party owns land
features of share ownership
owners of same property
owners have an ownership interest over the entire property
each party is entitiled to share in the general profits generated by the propoerty
forms of shared ownership
joint tenancy
tenancy in common
joint tenancy
all shared owners to have identical interests
joint tenancy - right of survivorship
joint tenant has no right to dispose of interest on death
deceased joint tenants interest automatically passes to the remaining surviving tenants
tenancy in common
all shared owners do not need to have identical interests
- no right of survivorship: has right to dispose of interest on death
does not automatically pass interest to surviving tenants
partition
involvement of the court to divide either property or the sale proceeds from the property
applies to both JT and tenancy in common
court can broker an agreement between the parties or court can make an order dividing the land or the proceeds
BC partition property act section 6
court try to mediate a plan between the parties
- if mediation doesnt work:
make order for the sale of propoerty and distribute proceeds
make an order for the division of property
strata properties
governed by strata Property act
operation and management of strata properties
pass strata by laws manage day to day strata activities administer contingency reserve fund for larger projects assess strata fees levy special assessments
non-possessory interests
an interest in real property that does not give the holder of the interest a right of possession in the property
types of non possessory interests
easements
restrictive covenants
mineral leases
easement
right to use neighbours land
EASEMENTS RUN WITH THE LAND AND NOT THE PERSON
positive easement
allows a party to do something on neighbours land ( most common type of easement)
negative easement
party prohibited from doing something on land to favour the neighbour
Parties to an easement
parties to an easement will always be negihbours \
- dominant tenement : property that enjoys the benfit of the easement
- servient tenement: property that bears the burden of the easement
creation of easement
- express easement: agreement between parties
- implied easement: necessary for practical convenience
- prescriptive easement: notorious long term use (rare)
statuatory easement: public utlities (
no dominant tennement)
restrcitive covenant
promise by the owener of the land limiting the use of land
- can only arise by agreement
- limits the servient tenements use of land
