Management and Organizational Studies 2275A/B Lecture Notes - Lecture 7: Concurrent Estate, Leasehold Estate, Fee Simple

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Property is a relationship between people with respect to things. In a legal sense, we distinguish property from things. The property is the legal interest i have in respect to thing. Once i understand the legal rights, then i understand the property of this thing. A relationship of a completely different magnitude. Property allows people to invoke the state"(cid:28678) (cid:28660)(cid:28678)(cid:28678)(cid:28668)(cid:28678)(cid:28679)(cid:28660)(cid:28673)(cid:28679) (cid:28679)(cid:28674) (cid:28677)(cid:28664)(cid:28678)(cid:28679)(cid:28677)(cid:28668)(cid:28662)(cid:28679) (cid:28674)(cid:28679)(cid:28667)(cid:28664)(cid:28677)"(cid:28678) liberty in respect to things. Real property: land and buildings and anything attached to them. P(cid:28664)(cid:28677)(cid:28678)(cid:28674)(cid:28673)(cid:28660)(cid:28671) (cid:28675)(cid:28677)(cid:28674)(cid:28675)(cid:28664)(cid:28677)(cid:28679)(cid:28684)(cid:28621) (cid:28664)(cid:28681)(cid:28664)(cid:28677)(cid:28684)(cid:28679)(cid:28667)(cid:28668)(cid:28673)(cid:28666) (cid:28679)(cid:28667)(cid:28660)(cid:28679) (cid:28668)(cid:28678)(cid:28673)"(cid:28679) (cid:28677)(cid:28664)(cid:28660)(cid:28671) (cid:28675)(cid:28677)(cid:28674)(cid:28675)(cid:28664)(cid:28677)(cid:28679)(cid:28684) Fixtures: goods that are attached to real property. The way we determine whether a fixture is a real property or personal property is the degree of permanence and the degree of damage that would be caused from its removal. Property rights are not absolute; always relative. Since historical time, a (cid:28675)(cid:28664)(cid:28677)(cid:28678)(cid:28674)(cid:28673)"(cid:28678) (cid:28682)(cid:28664)(cid:28660)(cid:28671)(cid:28679)(cid:28667) (cid:28668)(cid:28678) (cid:28660)(cid:28671)(cid:28682)(cid:28660)(cid:28684)(cid:28678) (cid:28672)(cid:28664)(cid:28660)(cid:28678)(cid:28680)(cid:28677)(cid:28664)(cid:28663) (cid:28668)(cid:28673) (cid:28679)(cid:28667)(cid:28664) (cid:28660)(cid:28672)(cid:28674)(cid:28680)(cid:28673)(cid:28679) (cid:28674)(cid:28665) (cid:28671)(cid:28660)(cid:28673)(cid:28663) (cid:28679)(cid:28667)(cid:28664)(cid:28684) owned. Fee simple: latin term for ownership interest.