fall 2010 bule 402 real property

fall 2010 bule 402 real property - Real Property...

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2/6/11 Real Property Bule-402-Fall 2010 Commercial Law © Julie Shubin 2010
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2/6/11 Quote of the Day “It is a comfortable feeling to know that you stand on your own ground. Land is about the only thing that can’t fly away.”
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2/6/11 This house is my home
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2/6/11 Who owns this parking spot?
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2/6/11 Hot Dog Island Adverse possession. Will it work?
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2/6/11 Nature of Real Property The grantor is the conveyor of property; the grantee is the one receiving it. Real property includes: Land (most common form of real property) Buildings (houses, office buildings, factories)
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2/6/11 Minneapolis Skywalks
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2/6/11 Livestock scales – they’re not just for cows! See Freeman v. Barrs , text page 1069
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2/6/11 Estates in Real Property Rights in real estate usage and ownership vary from unrestricted use and right to sell, to a lesser right of usage, but not the right to transfer it. The rights that someone can hold are called estates or interests.
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2/6/11 Freehold Estates The owner of a freehold estate has the present right to possess the property and to use it in any lawful way. A fee simple absolute provides the owner with the greatest control. A fee simple defeasible may terminate upon the occurrence of some event.
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2/6/11 Non-Freehold Estates Is actually a lease, where the owner permits someone to use and possess the property. Example – leasing an apartment – leasehold, non-freehold estate.
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2/6/11 Concurrent Estates A concurrent estate is when two or more own property at the same time. Tenancy In Common Joint Tenancy Marital Property Condominiums and Cooperatives
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2/6/11 Concurrent Estates – Tenancy in Common Tenancy in Common – two or more people own the property, holding equal interest in the property., each with the
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