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14 Cards in this Set
- Front
- Back
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What is property |
The rights to use or enjoy something and/or the right to enjoy the thing |
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What is res nullius? |
Things belonging to nobody, incapable of ownership ex. water in a stream, air, corpse |
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What is real property? realty? |
freehold interest |
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What is the term used to describe personal property ? (personalty) |
Chattels ex. phone, pencils, animals |
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Man X owned a farm, gave to A for life on A's Death to B for life and on B's death to C absolutely. What type of interest is this called? |
Successive Interests (one after another) |
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What does ownership involve? |
The right to enjoy and to dispose of personal property (chattel) |
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What is possession? |
The physical power to control |
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Can you own land? True or False? |
False |
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What is it called to have the right to use the land? |
Estate |
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What are the two types of tenancies? |
Freehold tenancies No time fame of when the tenancy should end Leasehold tenancies where tenant pays money and there is a definite time period |
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X had a blue bike for years. Y stole the bike and was enjoying it for a very long time. Does Y have ownership or possession of the bike? |
Possession. Although he is enjoying the bike, the bike belongs to X |
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What is Corporeal? |
Persons right to enjoy the land itself Land has corpus or body which can be seen or touched. |
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What is Incorporeal? |
Persons right to enjoy something intangible The right has no Corpus ex. The right to walk across land |
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What are the Two terms used for real Property? |
Corporeal and Incorporeal |
