JSB171 Lecture 1: Fundamental Concepts (ANNA)
Document Summary
Fundamental concepts: the nature and scope of personal property law. Meaning of property: property is a thing capable of being owned by a person. It recognises the rights of ownership/proprietary rights of the person to the thing; property in the thing is vested in the person. Right to exclude others: property rights are rights against the world . This includes rights in rem , that is, the right to the thing and the right to recover the thing itself as well as rights in personam which entitles the person to damages for its loss. If someone wrongfully takes your property, you can assert the right to get it back right in rem . All property can be divided into real property and personal property. Real property: land and all things embedded into and attached to the land. Personal property: all other property that is not real property.
