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CIVIL LAW - OWNERSHIP - Coggle Diagram
CIVIL LAW - OWNERSHIP
PROPERTY LAW
governs the legal relationship between individuals/entities & the assets they own real/personal property
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easements & covenants
right to use another's property, agreements that impose spec. on use of property
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real estate transactions
buy, sell, leas, mortgage
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ACQUISITION OF PROPERTY
property can be acquired by purchase, sale, gift, donation
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TYPES OF OWNERSHIP
fee simple ownership
absolute ownership of property, w/o any shared interest
leasehold
form of property tenure, temporary right to occupy property
co-ownership
joint tenancy
each co-owner has equal share, if one dies - ownership passes to the living one
tenancy in common
each co-owner have separately transf. interest. right to sell their share w/o the other co-owner consent
shared ownership
housing scheme enables individuals to part-time, part-rent, buyers must meet certain requirements set by housing association
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CONTRACTS/ COVENANTS
legally binding agreement between 2/more parties - outlines the terms & conditions of their agreement
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