2601648
Description
Flashcards by Michaela Seal, updated more than 1 year ago
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Created by Michaela Seal
over 10 years ago
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| Question | Answer |
| types of property law | -real property -personal property -intellectual property |
| real property | land - including surface, subsurface, airspace and things affixed to the land - buildings and things affixed to buildings |
| personal property | chattels - tangible property not affixed to land |
| intellectual property | intangibles - ideas, inventions, creative works |
| property rights under the Charter | NOT protected by the Charter |
| types of property rights | -possession rights -use rights -alienability rights -reversionary rights |
| alienability rights | right to grant right to someone else - to sell, encumber, etc |
| reversionary rights | property reverts to owner after someone else has used it |
| ownership | implies alienability and reversionary rights |
| title | description of rights held regarding that property |
| real property title | Crown has underlying title to all land in Canada |
| freehold estate | -most complete set of rights that can be granted -can sell, lease, encumber, bequeath (will) -reversionary rights revert to Crown if not alienated -can be expropriated by Crown for public purposes |
| leasehold estates | -leasehold of Crown land or freehold land -possession and use rights but limited alienability -can sublease during the term only -reverts back to Crown or freehold owner at end of lease |
| constitutional basis of real property: provincial government | -management and sale of public lands belonging to Province -property and civil rights in the province -non-renewable natural resource in province |
| constitutional basis for real property: federal government | -peace, order and good government of Canada -Indians and lands reserved for Indians -sea coast and inland fisheries |
| real property: Crown lands rights | -surface rights -subsurface rights -subsurface rights where surface is freehold |
| types of freehold interests | -sole tenancy -joint tenancy (2 or more people - right of survivorship) -tenants in common (2 or more people - no right of survivorship) |
| lease | quiet possession and use rights |
| mortgage | reversionary interest if mortgage not paid (foreclosure) |
| right of way / easement | limited use rights for particular purpose |
| caveat | notice of another interest in the land - agreement for sale, judgement |
| nemo dat qui non habet | cannot grant more property rights than you have |
| Torrens system principles | -mirror principle (Certificate of Title accurately reflects state of title) -curtain principle (Certificate of Title contains all relevant information) -insurance principle (Registrar compensates for loss of rights due to faulty registration, assurance fund from registration fees) |
| types of property rights in chattels | -exclusive possession -exclusive use -alienability rights -reversionary rights |
| ownership of personal property | -owners can grant possession and use rights (such as rentals and leases) however leesees typically do not acquire alienability or reversionary rights -owners bear risk of loss unless passed to third party (insurance, or through contract) |
| source of personal property law | -mostly common law, but has been modified by legislation in some areas |
| level of government responsible for intellectual property | federal government |
| patents | Patent Act -protects invention for up to 20 years, others must buy rights from you |
| trademarks | symbols associated with business - registration provides evidence |
| franchise | right to sell, supply, marketing, methods - by franchise agreements |
| goodwill | value of company beyond asset value - arises from takeovers |
| copyright | -protects artistic work from being copied -exists in common law - exists from time of creation -Copyright Act allows you to register creation as evidence -lasts lifetime of creator plus 50 years |
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