Introduction to Property law Flashcards
What is property law?
The law governing the acquisition, use and transfer of objects.
What is property?
The rights or interests of subjects in or over objects/the relationship between subjects in respect of objects.
What is real property?
Land- buildings, or parts of them, soil? fixtures, minerals, trees, plants and airspace. Also includes intangible rights such as rights of way.
What is personal property?
All about your possessions and rights over them. Split into choses in possession (control over things is exercised by possession e.g., jewellery) and choses in action (control is exercised by legal action e.g., debt, shares, patents)
Who can be a subject in property law?
Individuals, companies, everyone, the state or no one.
What is private property?
property owned by individuals or companies. they have rights over it and can exclude people from it.
What is common property?
Property that can be enjoyed by anyone and no one can be excluded e.g., parks
What is state property?
Property owned by the state, who can exclude people from the property or grant the property to certain individuals.
What is the lack of property?
Where an object is abundant but no one has rights over it e.g., air. Hunter v Canary Wharf.
What are property rights?
Rights in rem. enforceable against anyone, even third parties to the creation. they are stronger than other rights.
What are personal rights?
rights in personam. only enforceable by and against specific individuals.
how to distinguish between personal and property rights?
National Provincial Bank v Ainsworth - to be a property right a right needs to be definable, identifiable by third parties, capable in its nature of assumption by third parties, and have some degree of permanence or stability.
What is the numerus clausus principle?
there is a closed number of property rights in relation to different types of property.
What rights can exist in relation to personal property?
personal property- ownership (legal and equitable), bailment, mortgages, charges and other security interests.
What rights can exist in relation to real property?
ownership (legal and equitable), leases, mortgages and charges, easements, profits a prendre, restrictive covenants, estate contracts, options, rights of pre-emption, rent charges, rights of entry and proprietary estoppel.
