property law

Question 1

Real vs Personal Property

Answer 1

real - land and anything attached to land

personal - anything other than land (tangible and intangible)

Question 2

fee simple right

Answer 2

real property - ownership and owner has the right to use it and possess it and what they want with it

Question 3

who owns minerals, oils, gas

Answer 3

provincial and federal governments

licenses are granted to extract items

Question 4

five types of property boundaries

Answer 4

1. boundaries defined by survey
2. lateral support
3. riparian rights
4. air rights
5. airspace rights

Question 5

restrictive covenant

Answer 5

a promise in a legal agreement that prevents one party to the contract from taking specific action.
conditions imposed on a property to benefit the neighbouring property
- refrain from doing something or using the property in a certain wat that is restricted by the contract

Question 6

two types of restrictive covenants

Answer 6

negative -refrain from doing something

positive - allowed to do something

Question 7

profit a prendre

Answer 7

license and easement that runs with the land and allows harvesting trees or gravel

Question 8

chattel

Answer 8

tangible personal property

owner can lease, sell, rent etc.. (car)

Question 9

five types of intellectual property

Answer 9

1. copy right
2. patent
3. trademark
4. industrial design
5. integrated circuits