Management and Organizational Studies 2275A/B Study Guide - Final Guide: Leasehold Estate, Estate Planning, Life Estate

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Property- is a relationship between people with respect to things. It"s a much wider relationship, when you say you have property, you are asserting it against everyone saying i have rights to this that no one else has. When we talk about property what were really getting to is what can i do, and what can you do what rights to be both have. Ex: canada post has the right to come on to my property and give me mail, neighbours have the right to call the police on you if you"re having a party. Real property: is land and buildings and anything attached to them: it is fixed and not moveable. Personal property: is everything that is not real: is either tangible (you can touch it) or intangible ex: patents, trademarks, copyrights. Property rights are not absolute: property is the discussion where we figure out what rights people have, but no one ever has all the rights.