Introduction Flashcards
What does overreaching enable?
Interests to be detached from the land and attached instead to the money obtained by selling it.
What is one of the key policy objectives of land law?
To keep the land itself as easily tradable as possible.
How do we associate the ownership of land with time?
Slices of time are a dominant feature of land law. The largest interest in land - the greatest of land - is ‘for ever’. When I say ‘I own my house’, what I actually have in my house is ‘for ever’.
What is a fee simple?
The huge slice of time measured by the life of the land itself - the freehold.
How can you realise in money some of the value of the land without giving up one’s whole interest?
Could keep the ‘for ever’ slice of time and deal in a shorter slice of time - the lease is a proprietary interest that best facilitates this.
You’re not giving up your estate in land. Rather, you retain the freehold in reversion.
How else can we describe a slice of time?
An estate
What would be the negative consequences of recognising multiple estates in the same piece of land?
No one would ever have a marketable slice of time. The value of the land would be locked up and sterilised.
Since 1925 how many estates in land are recognised and what are they?
After the 1925 legislation only two estates in land have been recognised: the fee simple and the lease.
What do property rights bind?
The land itself. Hence they have the potential to sterilise the wealth which inheres in that land.
What do we mean by the concepts of ‘real’ and ‘realty’ in land law?
‘Real’ always indicates that something has some quality of or relation to a thing.
What is one distinction we find between real property and personal property in remedies?
The remedial option with personal property here gives the plaintiff no right actually to get the property back.
How is personal property different to real property?
It gives the victorious plaintiffs no right in or to any particular thing but merely a right that a person, the defeated defendant, pay the sum in question.
What is another way of calling a lease?
A term of years.
Is a leasehold a real right in land?
Yes. Your slice of time is a proprietary interest, an interest in rem, exigible against the land itself and hence against successors in title.
What are ‘real’ and ‘personal’ anglicised from in Latin?
‘In rem’ and ‘in personam’. The Latin tells us that a right in rem is a right in or against a thing, a right in personam is a right in or against a person.
What is another way of thinking about a right in personam?
An obligation.