Chapter 3 Flashcards
Real Property
Land and whatever is erected, growing upon, or affixed to the land, including the rights related to or derived from the land.
Personal Property
Everything other than real property, generally including movable objects.
Estate
A right to possess and use land for a period of time, either indefinitely (e.g., fee simple) or predetermined (e.g., life estate, leasehold estate).
Fee Simple Estate
The greatest estate in land known to Canadian law, held from the Crown, with extensive rights including use, enjoyment, sale, lease, mortgage, and disposal by will.
Life Estate
An estate in land that lasts for the lifetime of the holder (life tenant), who has all rights of use and possession, and receives any revenues from the land.
Estate Pur Autre Vie
An estate based on the life of another person, created when a life estate holder disposes of their interest to someone else.
Reversioner
The fee simple holder who creates a life estate and is entitled to the property upon the death of the life tenant.
Remainderman
A person entitled to the fee simple estate after the life estate ends, who appears on the certificate of title as the fee simple owner.
Waste
The doctrine limiting a life tenant’s ability to change or damage a property, categorized into voluntary, permissive, ameliorating, and equitable waste.
Voluntary Waste
Direct, positive acts that result in damage to property beyond the use to which a life tenant is entitled (e.g., demolishing a garage).
Permissive Waste
Allowing a property to deteriorate without any positive acts of the life tenant (e.g., failing to maintain the roof).
Ameliorating Waste
Positive acts that improve rather than destroy the property (e.g., constructing a deck).
Equitable Waste
Flagrant or malicious damage by a life tenant (e.g., burning down the house).
Leasehold Estate
An estate where a person has the right to use and occupy land for a fixed period, usually inferior to freehold estates.
Expropriation
The act of taking away a private owner’s interest in land without consent, typically carried out by the government, often with an obligation to compensate.
Escheat
The reversion of property to the Crown when the owner dies without heirs or a will.
Easement
A right to use a neighbouring property in a specific way (without possessing it) for the benefit of the holder’s land (dominant tenement) over another’s land (servient tenement).
Dominant Tenement
The land that benefits from an easement.
Servient Tenement
The land over which an easement is exercised.