Management and Organizational Studies 2275A/B Chapter Notes - Chapter 19: Land Registration, Giro, Family Law

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

Document Summary

Understand the nature and ownership of real property. Understand the various ways to acquire and transfer ownership. Understand the rights and duties of landlords and tenants. Land is permanent, immovable and the quantity is limited. Fixtures: tangible personal property that is attached to land, buildings, or other structures. Fee simple: legal interest in real property that is closest to full ownership: highest level of land ownership. Owner owns virtually all the rights associated with the real property- everything on, above, and below the land. Co-owners have undivided interest in the entire building- each owns a portion of the whole but respective shares cannot be singled out or identified in any way. Tenancy in common: co-ownership whereby each owner of an undivided interest can dispose of that interest as they see fit: deal with their own interest in any way they see fit, do not have to consult the co-owner.