LAW 603 Lecture Notes - Lecture 4: Concurrent Estate, Land Law

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364 real property includes land and anything attached to land. 364 interests in land rights that a person can enforce with respect to a particular piece of land. Life estate: right to exclusive possession during relevant life but no right to dispose of property upon death: a person is normally entitled to profits generated from land but cannot commit an act of waste. Leasehold estate: right to exclusive possession during specified period. 367-369 shared ownership: act together and buy undivided interests in a single piece of land (owners of same property) Ea(cid:272)h perso(cid:374)"s i(cid:374)terest (cid:373)ust (cid:271)e e(cid:454)a(cid:272)tl(cid:455) the sa(cid:373)e at the other"s. Right of sur(cid:448)i(cid:448)orship: de(cid:272)eased"s interest automatically passes to remaining joint tenant. No right of sur(cid:448)i(cid:448)orship: de(cid:272)eased"s interest passes to person named in will or to next-of-kin. 2+ ppl share the same undivided interests in a property. 2+ ppl share some undivided interests in a property. Each person may have a different undivided interest.

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