Module 9 (5&6) Flashcards
In property law, lawyers are not interested in the actual properties of people, the “things,” what are they actually interested in?
The rights and responsibilities that arise in connection with these things
What is Property Law?
rules that govern the relationships between individuals as it relates to things
Contract law and torts law deal with personal conflicts, what is a fancy latin term to describe this?
“Rights in personam”
Property rights are not personal, but are considered what?
Good against the world
eg. if lucy buys a bike (her property), no one else is allowed to use that bike without her permission, the world must respect her property
What is the Latin term for “rights and things”
Rights in rem
Can Lucy create new rights regarding her bike?
Yes,
eg. she can lend her bike to her brother for the weekend
What is the difference between “Real” property and “Personal” property?
Real property: Land and buildings
Personal Property: Tangible things (like a phone) and Intangible things (like a bank account)
Is your own body and organs considered property?
No
What are the 4 Forms or Regimes of Property?
Open access = no one is excluded, eg. the air we breathe, or concepts and ideas
Private Property = everyone but the owner is excluded ex. lucys bycicle
Public Property = the state owns the resource and regulates access to it eg. government buildings
Shared property = owned more by one and the owners regulate access to the resource, eg. a shared boat by friends, businesses owned by several partners
What are the 5 property rights talked about in this video?
RIght to exclude
Right of possession
Right to use and enjoy
Right to transfer
Right to income or revenue
Explain the “liability for seizure”
For xample, if lucy has certain debts that she cannot pay, the law might allow her bike to be seized and sold to satisfy debts
What is a useful metaphor for understanding property law?
Property as a “Bundle of rights”
All the rights are sticks in a bundle, and the owner of the property can unbundle any stick in the bundle and transfer it to someone else
The “right of way” is when someone alows someone the right of way on their property, what is another word for this
Easement
What are the two categories of property in Canada?
1) Interests passed down from the crown
2) Indigenous/Aboriginal properties
Who remains the true owner of all land while granting any individual the right to “hold the land on the crown”
the crown