REM 300 Lecture Notes - Lecture 1: Clan Home, Escheat, Riparian Water Rights

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 300
• Professor: David Scofield

Document Summary

Audited the whole country to determine how much land they own, livestock, who owns what in 1086. Tenure: holding land for temporary time period but does not involve ownership of land. Estate: used to convey the legal position; the status or extent of rights associated with tenure (the right to pass on tenure from parent to child) Common law: mostly unwritten, based on principles, rules that has developed over the centuries using legal precedents as opposed to provisions set out by parliamentary decree. Includes use of possession but not disposal. Terminates when the holder dies, holder of life estate for a lifetime period (not everlasting) Cannot designates who inherits land: future. (cid:862)(cid:396)e(cid:373)ai(cid:374)de(cid:396)(cid:863)= (cid:396)e(cid:373)ai(cid:374)i(cid:374)g po(cid:396)tio(cid:374) (cid:449)he(cid:396)e the g(cid:396)a(cid:374)to(cid:396) gi(cid:448)es balance to a third party. (cid:862)(cid:396)e(cid:448)e(cid:396)sio(cid:374)(cid:863)= la(cid:396)ge po(cid:396)tio(cid:374) of the fee si(cid:373)ple (cid:396)e(cid:373)ai(cid:374)s (cid:449)he(cid:374) the life estate ends: lease hold. An interest in land for a specified period of time. Rented property for a limited time frame in exchange for rent payment.