Class_10-_AFM_231_posted

Class_10_AFM_231_po - AFM 231 Business Law Real Property Bailment Discussion Points Nature of property Kinds of ownership and limits Transaction

Info iconThis preview shows pages 1–7. Sign up to view the full content.

View Full Document Right Arrow Icon
AFM 231 Business Law Real Property & Bailment
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Discussion Points Nature of property Kinds of ownership and limits Transaction process Mortgages & Leases Bailment Types of Bailment Bailment Remedies
Background image of page 2
Real Property Best way to think of property As a bundle of rights that you possess Its not about the land/building itself but the rights in relation to that land. As text notes (p. 459) Land is permanent and immovable- easier to track The total quantity of land is finite Both factors contribute to its perceived value
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Kinds of Ownership FEE SIMPLE the legal interest in real property that is closest to full ownership DIVISION OF OWNERSHIP tenancy in common – co-ownership whereby each owner of an undivided interest can dispose of that interest joint tenancy – co-ownership whereby the survivor inherits the undivided interest of the decease
Background image of page 4
Limitations on Ownership LIMITS municipal government environmental regulations common law of nuisance various government agencies foreign ownership of land may be limited by the government
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Contractual Limitations LIMIT BY CONTRACT easements – the right to use the land of another for a particular purpose only lease – right to occupy for a specified time in return for rent mortgage – using land as security for a loan restrictive covenants – a restriction on the use of land as specified in the title document
Background image of page 6
Image of page 7
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/19/2010 for the course AFM 231 taught by Professor Briggs during the Winter '09 term at Waterloo.

Page1 / 20

Class_10_AFM_231_po - AFM 231 Business Law Real Property Bailment Discussion Points Nature of property Kinds of ownership and limits Transaction

This preview shows document pages 1 - 7. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online