Lecture 2. The nature of property - Ownership and possession Flashcards
What are the two kinds of property recognized by English law?
Real property (realty) and personal property.
Real property includes freehold interests in land, while personal property includes everything else.
What does realty include?
All freehold interests in land.
Freehold means one has the land free from feudal obligations.
What is personal property?
Any property that is not real property and is not permanently attached to land.
How does English law’s division of property compare to French law?
English law divides property into real and personal, while French law divides property into movable and immovable.
What historical aspect influences the division of property in English law?
The history of the forms of actions in law.
What are the two forms of actions in common law?
- In rem: concerning land
- In personam: concerning personal property rights
What does ‘in rem’ refer to?
A claim to land or a thing, associated with real actions.
What does ‘in personam’ refer to?
Actions based on personal property rights, which typically result in compensation through damages.
In early English courts, what could one use for recovery of land?
A real action.
What was the situation regarding damages in the 1300s/1400s?
Damages were not monetized, making compensation quite poor.
Why did land become known as real property?
Because it was a significant form of property recognized in legal actions.
True or False: Personal property is permanently attached to land.
False.
Fill in the blank: Property is either _______ or it is not.
land.
What is real property classified as in French law?
Immovable.
What is personal property classified as in French law?
Movable.
What system prevented the buying or selling of land?
Feudal system.
What type of action is not actionable in rem concerning land?
Real action.
What is the legal term for a lease in property law?
Chattels real.
What are the two types of personalty?
- Choses in possession
- Choses in action.
What is corpus in the context of personal property?
Tangible objects.
What are choses in action?
Intangible forms of property.
In a capitalist society, how is the value of things measured?
By their price.
What form of property do we have more debt than any other?
Debt.
What is the difference between property as a right and value as a market concept?
Property is a legal concept; value is a market concept.
What is the relationship described by ownership?
A relationship between a person and a certain right.
What does it mean to vest in legal terms?
To have ownership of a right.
What happens when someone’s right is removed?
Divesting.
What is considered the greatest right a person can have?
Ownership.
What does Black’s law dictionary say about ownership?
It is the highest right a man can have on anything.
What is the distinction between corporeal and incorporeal ownership?
- Corporeal ownership: in choses in possession
- Incorporeal ownership: intangible things.
What is sole possession?
One proprietor.
What is copossession?
More than one proprietor.
What is equitable ownership?
Trust that gives someone a life estate in land.
What is beneficial ownership?
Equitable ownership right to the property.
What does possession mean in a technical sense?
Physical control without legal possession.
Fill in the blank: Ownership vests you with _______.
Rights.
True or False: A person must physically possess a thing to own it.
False.
What type of rights do servitudes grant?
Rights you have on other people’s land.
List three examples of servitudes.
- Right of way
- Right to light
- Easements.
