REM 300 Lecture Notes - Lecture 1: Leasehold Estate, Life Estate, Riparian Water Rights
15 Mar 2018
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Document Summary
To understand real estate, you have to understand the land, and the conditions around which the land can be used (legislation, regulation, zoning, etc. ) Real estate and financial services is the largest of all good and service producing industries. Real estate markets may be influenced by capital from outside the local/national economy can be problematic. There is a concreteness and immediacy to real estate. Canada real estate market suffers from lack of data. Real estate is not a perfectly free market (rigged on both sides, supply/demand) History of land ownership: land ownership emerged in england in the middle ages, real estate dates back to the 11th century (cid:498)estates(cid:499) evolved to be a bundle of rights that is associated with land ownership. Estates: life estate, future estate, lease hold estate, fee simple estate. The most complete bundle of rights is called a (cid:498)fee simple estate(cid:499) Fee simple estate: a typical canadian property owner has a fee simple estate.
