Management and Organizational Studies 2275A/B Study Guide - Final Guide: Leasehold Estate, Bailment, Intangible Property

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

Document Summary

Property: a relationship between people with respect to things. Personal property is land and buildings and anything attached to them, it is fixed and not moveable is everything that is not real property, is either tangible or intangible. Are goods that are attached to real property. Easements: come on to property and take information. Eg union gas right to dig up land but not property. Licenses: shared use arrangement, eg shared driveway, liscence to take stuff from someones land, cant force someone to do something, only force someone not to. Mortgages: interest in real property to secure payment of a loan. Tenancy in common (co-ownership: right of survivorship, equal interests, no right of survivorship, potential unequal interests, combination of. A person who finds personal property has a right to claim it against. Finders keepers anyone except the true owner. Bailment: when one person (the bailee) is in possession of personal property that belongs to another person (the bailor)