LAW 603 Chapter Notes - Chapter 15: Life Estate, Concurrent Estate, Easement
22 Jul 2016
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Law603 chapter 15 notes real property: interests and leases. Real property: includes land and anything attached to land (ex: fences and buildings) Giant carrot theory : a person who owned a particular piece of land also owned the air up to the heavens and the ground to the centre of its earth. Today (modern approach) the landowner can control the airspace only to a reasonable height (ex: you can complain about a crane over your head but not a plane) Interests in land: is a right that a person can enforce with respect to a particular piece of land. If a continues to use b"s land (after it was transferred to b from a) b can get a evicted. Property rights are good against the whole world. Estate: is an exclusive right to possess a property for a period of time. 3 types of estates: fee simple: the largest package of rights that a person can hold in land.
