WEEK 2 Notes - Estates PDF

Preview

Summary

Download WEEK 2 Notes - Estates PDF

Description

Week 2 - Estates DOCTRINE OF ESTATE: Differs because of what interest of those people have in the land Cf. tenure land crown and subjects. Estate is the property itself



Diagram shows the relationship, the crown being able to grant/allocate parcels of land known as wasteland

2 types of Estate





Freehold o Fee simple o Life estate o Fee tail (now abolished) Leasehold

Section 19 Property Law Act (PLA)

  

By enlarge, fee simple is the best interest an individual can have in land The crown has the benefical ownership The grant of fee simple is best unrestrictive interest a person can have, they can sell it, pass it down through a will etc

Fee Tail abolished)

(now

Creation of Fee Simples



The power of the Crown to allocate its land to people, s 14 of the Land Act 1994 to grant fee simple from allocated state land

The lifeline of a fee simple



Conceptually, created by the Crown by allocated lot to an individual, in fee simple. Pass it down in generation then sell it

Creation of Life Estate

  

Doctrine of Waste [P163-164]

 

EG: my house to Peter for the course of his life, and then to Sarah = Peter has a life estate. Sarah has a future interest (fee simple) Life Estate would be categorised as Freehold because it would not have a particular time line because we don’t know how long someone is going to live for Leasehold = for a stated period of time (10 years 20 years etc) Life tenants have an obligation to protect the property for later interest o Voluntary waste – obligations to not permit voluntary waste which is positive act such as tearing down the wall etc o Equitable waste – obligation to not permit equitable waste, such as negligent act of destruction, managing his or her own porperty to a standard

Recap

     

Estates refer to the relationship a person has with the land (their status in the land) There are only two types of estates: freehold and leasehold Fee simple is the most common freehold estate It is the best (ie. Most unrestricted) interest an individual can hold from the Crown Life estates and leases are ‘lesser interest’ in land Life tenants have an obligation to maintain property (not to commit waste)...