REM 300 Study Guide - Comprehensive Final Exam Guide - City, Government Of Ontario, Canada
20 Nov 2018
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Document Summary
A system of parcelling (selling) land emerged after 1066 began a system of tenure (conditions) related to the duties owed to the landlord. Tenants on such land gradually obtained rights through the legal system. Estates evolved to be a bundle of rights that are associated with land ownership: growth is tired to development of common law. Key terms: tenure: holding of land without ownership, estate: the extent of rights associated with tenure (forms basis of modern r. e) Described as an interest in land, and is the most common form of ownership. Lecture 1 rem300: future estate, arises when life estate ends, fee simple remains after life estate expires, reversion: when individual who granted life estate (or grantor) resumes fee simple, remainder: if grantor gives balance to third party. Property is often owned by a group of people who all have the same package of right at the same time. Indivisible as well as unique (no two assets exactly same)
