Ch 4: Property Law Flashcards
Law Addresses
- What can be property?
2. What does a property right give you?
Law Classifies ______ & Law Assigns _______ to different types of property & to different relationships with the property
the types of property, corresponding rights
Ex: Car
- mom owns
- son daily user
- son’s gf borrower
- Mechanic has lien against car
Two Types of Property:
Real & Personal
Who was the historical owner of all real property?
The Queen & The Government
in the Right of the Crown
Federal Gov. transferred ownership to:
Private Owners
Fed & Provincial gov owned __% of Canada’s Land
89%
What % of land does the BC gov. own of BC?
94%
Gov can take back private property through
Expropriation: occurs when a public agency takes private property for a purpose deemed to be in the public interest
Fee Simple means
Almost full ownership and rights
(REAL Property Law) Land Ownership can have what 2 ownerships?
Joint Tenancy: Partner B dies so A gets it all
Tenancy in Common: Partner B dies so land goes into B’s estate & will
(REAL Property Law) Land: What is excluded from Fee Simple?
Land: Oil and Gas, Minerals are excluded from Fee Simple
(REAL Property Law) Buildings: 3 physical rights include
- lateral support right
- riparian (water) rights
- air rights
(REAL Property Law): Rights can ‘run with the land’ & ‘attaches’ to the land not the parties. Give 2 ex:
- Lease
- Mortgage
- Easement / right of way
- Restrictive covenant
- Licence
- Profit à prendre
- Construction liens
(REAL Property Law): REGISTRATION: where do you register fee simple?
THE LAND REGISTRY / TITLES OFFICE
(REAL Property Law): REGISTRATION 2 types of systems
TORRENS SYSTEM (BC)
REGISTRY SYSTEM
Ont parts