Law 3101A/B Study Guide - Quiz Guide: Fee Simple
16 Oct 2018
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Primary property rights: - right of ownership (most powerful right) Absolute rights (can be invoked against everyone) Only one kind of ownership exists on an object. French definition of ownership: corporeal +incorporeal objects. Fee simple: - absolute in possession (land law) Entitles holder to exclusive possession for unlimited time. Holder can derive lesser property rights on form of a fee (granting someone else exclusive right for a term of years) Equity: - law that remains under discretion of courts. If they all claim possession, stronger entitlement will get it. Primary rights to use: - right of ownership. Fee simple to use a thing or object. Limitations: - private law limits permission to use objects, things. Examples of private law limited by public law. Holder of primary right of building cannot alter it without permission -> buildings are under control of the state. Person entitled to a piece of land needs permit to build upon it.
