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B LAW402 (43)

Real Property Review.doc

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Business Law
B LAW402
Elaine Geddes

REAL PROPERTY 1. You should understand the concepts of ownership and estates as they apply to real property, and be able to recognize the various forms of ownership and estates permitted at law (e.g. joint tenancy, tenancy in common, life estate etc.). 2. You should be able to understand the divisions in ownership that allow two or more people to claim interests in land. In particular, you should understand the law with relation to air space, water rights and mineral rights. 3. You should understand the fundamental principles of the Torrens System of land registration and be able to contrast it with the Registry System. •Indefeasibility •Facility of Transfer •Security of Title 4. You should know and understand the exceptions to indefeasibility. •Statutory exceptions under s. 65(1) of the Land Titles Act •Misdescription •Prior Cert
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