Property Law Glossary Flashcards
Absolute Estate
Estates without any strings attached. E.g. To ‘A’ for life
Adverse Possession
arises when an action against a trespasser to recover possession is not instituted during the statutory period allowed for such an action (20 yrs usually). After that time, the squatter gains legal title.
Allodial Title
a real property ownership system where the real property is owned free and clear of any superior landlord.
Animus Possidendi
the intention to possess
Artificial Person
A legal entity that has the same rights as the natural person (e.g. Corporations, the State)
Bailee
Receives the temporary transfer of personalty from a bailor
Bailment
A temporary transfer of personalty under which the good of a bailor is handed over to a bailee
Bailor
Owner who hands personalty to a bailee for their temporary possession
Chattel
tangible physically owned property. Is a subset of personal property but is not real property (e.g. a book, or a car)
Common Property
The right not be excluded (e.g. Air, public parks, First Nations reserves, tenants in common, open access resources)
Conditions
Allow the creator of an estate to control how an estate will be used in the future. Two kinds: 1) Forfeiture (when x happens, grantee loses estate), and 2) Eligibility (x event must happen before grantee can receive estate)
Constructive Delivery
words or gestures which change character of the donee’s custody or possession
Constructive Possession
someone does not have actual possession of an item or property, but has the intent and capability to maintain control and dominion over that item or property
Contingent Interest
where vesting is delayed pending the occurrence of some condition precedent, the happening of which is not inevitable
Conversion
doing some act to convert an object under the guise of being a true owner
Cy-Pre’s Power
part of the inherent jurisdiction of a superior court to supervise and reform charitable trusts. If the testator is found to have had a general charitable intent, the court can rewrite the trust in a manner as close to that intention as possible.
Defeasible Interest
an interest that may be brought to a premature end on the occurrence of a specified event.
Determinable Interest
A claim on property, real or personal, that will begin at some point in the future. A future interest allows the grantor to retain the right to use that property until that specified date.
Detinue
wrongfully withholding something, even if you don’t claim to be the owner of it.
Devisee
a person who receives a gift of real property by a will. The distinction between gifts of real property and personal property are actually blurred, so terms like beneficiary or legatee cover those receiving any gift by a will.
Easement
A right of use over the property of another. The easement was normally for the benefit of adjoining lands, no matter who the owner was (an easement appurtenant), rather than for the benefit of a specific individual (easement in gross).
Escheat
The power of a state to acquire title to property for which there is no owner. Takes place due to lack of any person with a valid interest in a property upon the death of the prior owner.
Essentialism
Must have all elements of a definition satisfied before you can succeed in labelling something
Fee Simple
The greatest possible estate in land, wherein the owner has the right to use it, exclusively possess it, commit waste upon it, dispose of it by deed or will, and take its fruits. A fee simple represents absolute ownership of land, and therefore the owner may do whatever he or she chooses with the land. It may also be of an indefinite duration.
Fee Tail
An estate in land subject to a restriction regarding inheritance (e.g. male or female heirs only, children of a specified spouse, direct heirs, etc…)