Property Law Flashcards
What kind of rights are property rights?
absolute rights/ rights in rem
What is effects erga omnes?
Property rights are rights with effect against everyone
What is Vindiction
Civil Law: The right that a person can claim back something that belongs to him
Who is the owner of land in common law?
The Queen/King
What rights can citizens have in common law about land?
- fee simple: Entitles the holder to exclusive possession for an unlimited duration of time
- fee of a term of years: Granting exclusive possession to someone else for a limited duration of time
What are chattels?
movable objects
What is a title in Common Law?
The absolute possession of something
What is the relativity of titles in Common Law?
If more than one person is entitled to the same chattel, the person with the stronger entitlement will receive the possesion
What primary property rights has a person in Civil Law?
Ownership
What are primary property rights?
- Right to use:
Ownership on movable or unmovable objects - Right to secure:
1. Personal security
2. Property security
3. Fiducia com creditore - Rights to acquire property:
Reservation of ownership/retention of title
What is possession in Civil Law?
A person who exercises factual control over an object without having the right of ownership
What is detentorship in Civil Law?
A person exercises factual control over an object and he recognizes the right of the owner
What is paritas creditorum?
The claims of different creditors are all equal in rank (proportional to the size of claims)
What is personal security?
Someone else becomes responsible for a debt
What is property securtiy?
A good can be sold to pay the debt
What is reservation of ownership/retention of title?
Possibility on reserving the primary right until the moment of payment, created by a clause in the sale contract
What is fiducia cum creditore
Transfer of ownership for security purpose (pub owner transfers ownership of the pub’s inventory to the brewer)
What is a secondary property right?
Usufruct: The right to use an object of someone else (The rights follows the object)
What is a secondary right to use?
Right to servitude: Can be created on land for the benefit of another piece of land
What are secondary security rights?
- Hypothec (immovable objects)
- Pledge (movable objects)
Numerus clausus
Only a limited number of property rights are recognized. Only concerns the types of property rights that can be created.
Principle of specifity
It should be clear on which land or good a property right is created. Fungible objects can’t be owned because they occur in masses.
Nemo Dat Rule
Nobody can transfer a property right that doesn’t belong to him
Prior tempore right
The older right is more important than the new one –> The holder of the older right get paid first.
What kind of publicity does exist?
- negative systems
- positive system
How can property rights be created?
- Occupation (an object which didn’t have an owner is found)
- Prescription (if the owner hasn’t done anything against possession the latter becomes the new owner after a long period of time)
- Creation
- Mixing
The rule of accessority
Unbreakable link between a security right and its claim –> the security right goes with the claim
When can a property right be terminated?
When the object stops to exist
How can a property right transferred?
- Consensual system
- Traditional system
What is the Consensual system?
Movable: When the contract is concluded
Immovable: When the contract is concluded and the deed is registered
What is the traditional system?
Movable Objects: The seller provides the buyer with possession/factual control
Immovable: Formalities must be fulfilled Conclusion of sale contract, conclude a deed, publicity of the deed
Droit de suite
Right to follow: The property right follows the object regardless of whoever is the owner
Priority
Holders with a secondary security right may claim their money before creditors with personal rights
