Law 2101 Lecture Notes - Lecture 1: Fee Simple, Life Estate, Title Insurance
Document Summary
Property: relationship between people with respect to things. Property rights aren"t absolute, they are always relative: word ownership even though commonly used, legally we"re not sure what it means. Land and buildings and anything attached to them. Canada post has right to come on property to deliver mail. City can prevent me from running restaurant in my house. Fed gov have rights to oil and gas underneath house. Fixtures: goods that are attached to real property, depends on how attached it is: Fixtures begin as personal property but when attached to real property, they become real property if its permanent & a lot of damage is caused with its removal = real property and it"s a fixture. Possessory interests in land: rights that entail a right of possession i can live there. Latin term ownership : greatest private interest that a person can have in real property, e. g. , my landlord has fee simple of the house that i rent.
