Property Law (notes based)

Description

200 Finals (LWSO 203 W2015) Flashcards on Property Law (notes based), created by Michaela Seal on 04/27/2015.
Michaela Seal
Flashcards by Michaela Seal, updated more than 1 year ago
Michaela Seal
Created by Michaela Seal almost 8 years ago
234
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Resource summary

Question Answer
types of property law -real property -personal property -intellectual property
real property land - including surface, subsurface, airspace and things affixed to the land - buildings and things affixed to buildings
personal property chattels - tangible property not affixed to land
intellectual property intangibles - ideas, inventions, creative works
property rights under the Charter NOT protected by the Charter
types of property rights -possession rights -use rights -alienability rights -reversionary rights
alienability rights right to grant right to someone else - to sell, encumber, etc
reversionary rights property reverts to owner after someone else has used it
ownership implies alienability and reversionary rights
title description of rights held regarding that property
real property title Crown has underlying title to all land in Canada
freehold estate -most complete set of rights that can be granted -can sell, lease, encumber, bequeath (will) -reversionary rights revert to Crown if not alienated -can be expropriated by Crown for public purposes
leasehold estates -leasehold of Crown land or freehold land -possession and use rights but limited alienability -can sublease during the term only -reverts back to Crown or freehold owner at end of lease
constitutional basis of real property: provincial government -management and sale of public lands belonging to Province -property and civil rights in the province -non-renewable natural resource in province
constitutional basis for real property: federal government -peace, order and good government of Canada -Indians and lands reserved for Indians -sea coast and inland fisheries
real property: Crown lands rights -surface rights -subsurface rights -subsurface rights where surface is freehold
types of freehold interests -sole tenancy -joint tenancy (2 or more people - right of survivorship) -tenants in common (2 or more people - no right of survivorship)
lease quiet possession and use rights
mortgage reversionary interest if mortgage not paid (foreclosure)
right of way / easement limited use rights for particular purpose
caveat notice of another interest in the land - agreement for sale, judgement
nemo dat qui non habet cannot grant more property rights than you have
Torrens system principles -mirror principle (Certificate of Title accurately reflects state of title) -curtain principle (Certificate of Title contains all relevant information) -insurance principle (Registrar compensates for loss of rights due to faulty registration, assurance fund from registration fees)
types of property rights in chattels -exclusive possession -exclusive use -alienability rights -reversionary rights
ownership of personal property -owners can grant possession and use rights (such as rentals and leases) however leesees typically do not acquire alienability or reversionary rights -owners bear risk of loss unless passed to third party (insurance, or through contract)
source of personal property law -mostly common law, but has been modified by legislation in some areas
level of government responsible for intellectual property federal government
patents Patent Act -protects invention for up to 20 years, others must buy rights from you
trademarks symbols associated with business - registration provides evidence
franchise right to sell, supply, marketing, methods - by franchise agreements
goodwill value of company beyond asset value - arises from takeovers
copyright -protects artistic work from being copied -exists in common law - exists from time of creation -Copyright Act allows you to register creation as evidence -lasts lifetime of creator plus 50 years
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