Management and Organizational Studies 2275A/B Study Guide - Final Guide: Bailment, Concurrent Estate, Land Registration

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 2275A/B
• Professor: Philip King

Document Summary

Property law: rules and laws that govern our relationship with things that can be owned. Enables owners to protect their rights in relation to their property: real property. Real property: land and whatever is permanently affixed to it or part of it, such as buildings, mines and minerals and the legal rights associated with those things. Includes land and whatever is permanently attached to it and the associated legal rights. Can sometimes include the rights for things below the surface, or in the air. Fee simple: the legal interest in real property, that is closest to full ownership. The owner owns the land and can dispose of it in any way they see fit. Most municipalities will place taxes on real property to fund municipal services and land use rules to regulate local development. Landowners may have obligations to cooperate with intrusion on their land.