Law 2101 Study Guide - Final Guide: Title Insurance, Fee Simple, Leasehold Estate
17 Apr 2018
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Property is the relationship between people with respect to things: we want to known what we can do with that property and not get in trouble as a result. Talks about what rights you have in respect to your things. The relationship between people: whe(cid:374) you ha(cid:448)e a property i(cid:374)terest i(cid:374) so(cid:373)ethi(cid:374)g, you do(cid:374)"t just say it to o(cid:374)e person you are saying it publicly (broad relationship) Property rights are not absolute they are always relative: your interest in a property is depe(cid:374)de(cid:374)t o(cid:374) (cid:449)ho"s aski(cid:374)g. Types of property: real property, personal property. Land and buildings and anything attached to them. Easements: cannot do anything about this, ex: union has a pipe going through your back yard. Licenses: allows someone to come onto property for the purpose of making a profit, ex: own an apple orchard, and you allow someone onto it to take the apples. It must be clear who benefits from it if not, it is not enforceable.
