LAW 201 Chapter Notes - Chapter 10: Intangible Property, Private Law, Concurrent Estate
Document Summary
The 3 types of property: real property (real estate, refers to land, and also includes anything attached to land buildings (for ex. ), as well as resources beneath the land, such as minerals: house is not owned separately from the land on which it is located; the owner of the land owns the house too. The deed registration system: uses traditional idea of transfer by deed, requires deeds to be registered creates a deed repository to help with the tracing process, 2. The torrens system: eliminates the transfer of title of deeds, replacing them with statutory transfer forms, title for all land within the jurisdiction must be registered, and anyone purchasing property can rely on the state of the register. Includes not only tangible, movable objects like computers and cars, but also intangible interests like shares in a company: tangible personal property, chattels tangible, moveable objects (ex. Intangible interests: sometimes called incorporeal interests, ex.
