[REM 300] - Midterm Exam Guide - Ultimate 17 pages long Study Guide!

• School: Ryerson University
• Department: Real Estate Management
• Course: REM 300
• Professor: Anil Sinha

Document Summary

History of land ownership: land ownership emerged in england in the middle ages. Tenure (conditions under which land/building is held/occupied w/o ownership) Right to posses, subject to payment to lord of the land. Tenants on crown land gradually obtained rights through the legal system (with bloodshed) Estates (interst in land) evolved to be a bundle of rights that is associated with land ownership ex. Right to pass on tenure to child : passed down into common law i. e. real estate (based on principles rather than speci c rules to suit particular purposes: Estate of use - ownership obtained by deed, will or possession ex. trust ownership - titles in the name of registered owner held as a trustee or bene cial. Fee simple (freehold ownership)- most rights with least limitations most complete bundle of rights (title- lawful ownership of land) ex. young couple buying a home in subdivision. A typical canadian property owner has a fee simple estate.