275757
Property Law
- Definition
- Establishes the concept of
ownership and
possession, and the rights
and obligations that arise
out of them
- Establishes the concept of
ownership and
possession, and the rights
and obligations that arise
out of them
- Real Property
- This kind of property is
characterised by its
immovability and is also
known as realty
- Land, Interests in Land
- Land, Interests in Land
- This kind of property is
characterised by its
immovability and is also
known as realty
- Personal Property
- Consists of all other
kinds of property that are
not real property
- Choses in
possession/action,
Chattels Real
- Choses in
possession/action,
Chattels Real
- Consists of all other
kinds of property that are
not real property
- Ownership
- Title to
property or
property in an
object
- Gives the holder the right to:
- Transfer ownership
- Use as security for a loan
- Keep possession and use the item
- Give possession of it to another
- Grant special contractual rights over it
- Transfer ownership
- Possession
- Bailment
- Lease or hire agreements
- Hire purchase agreements
- Bailment
- Title to
property or
property in an
object
- Nemo dat rule
- The transfer of
title to goods by
gift or sale is
subject to the
'nemo dat quod
non habet', which
is latin for 'no-one
can pass on a
better right to
ownership than
he/she has
- The transfer of
title to goods by
gift or sale is
subject to the
'nemo dat quod
non habet', which
is latin for 'no-one
can pass on a
better right to
ownership than
he/she has
- Ownership of land
- Doctrine of eminent domain
- Freehold estates
- Life estates
- Doctrine of eminent domain
- Multiple owners
- Joint tenants
- Tenants in common
- Joint tenants
- Land Transfer system
- The Deeds system
- Torrens system
- NZ land divided into districts
- Records kept by
Land Information NZ
(LINZ
- Certificate of title
- Registration confers a legal interest
- Mirror principle
- Curtain Principle
- Insurance principle
- NZ land divided into districts
- Registration
- confers a legal interest in land
- gives notice to the whole world of the interest
- without fraud confers
an indefeasible title
- Means supremacy of title -
ownership of land or
interests of land is
protected from claims by
other persons
- Means supremacy of title -
ownership of land or
interests of land is
protected from claims by
other persons
- those with unregistered
interests in land hold an
equitable interest
- confers a legal interest in land
- The Deeds system
- Transfer of land: Land may be transferred by
- Sale
- Ownership transferred from seller to buyer
- Common steps in process
- Negotiation
- Agreement for sale and purchase
- Title search
- Insurance check
- Local authority inquiries
- Negotiation
- Common steps in process
- Ownership transferred from seller to buyer
- Gift
- a gift is the transfer if
property from on person to
another graciously, with the
intention that the property
should not return to the
donor,
- Oral promise is not
enforceable, written
needs to be in form of a
deed
- a gift is the transfer if
property from on person to
another graciously, with the
intention that the property
should not return to the
donor,
- Will
- may be passed on provided will is valid
- any person over 18
and has
testamentary
capacity can make a
will
- will must be in writing, signed by
teastor which must be witnessed
- may be passed on provided will is valid
- Trust
- Trust is an equitable invention
- person holds and
administers property
for other people
- person who holds is trustee, person who receives is
beneficiaries
- person who holds is trustee, person who receives is
beneficiaries
- Trust is an equitable invention
- Operation of Law
- transfers happen automatically within
circumstances, e.g. when a person
dies, ownership is automatically
transferred to the executor by a
transmission
- transfers happen automatically within
circumstances, e.g. when a person
dies, ownership is automatically
transferred to the executor by a
transmission
- Sale
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