Introduction to the Types of Property Rights in Land

These flashcards cover key vocabulary related to property rights in land law, providing definitions and explanations for better understanding.

Real Property

Property rights relating to land, except for leases, which are capable of binding third parties.

Personal Property

Rights in all types of property except land, including leases, goods, money, stocks, and shares.

Fee Simple Estate

An estate in land that provides indefinite ownership and can be inherited.

Lease

A property right granting exclusive possession of land for a fixed period.

Mortgages

A loan agreement where the borrower grants the lender an interest in the property as security for a loan.

Restrictive Covenant

A promise by a landowner not to use their land in a particular way for the benefit of a neighboring landowner.

Easement

The right of one landowner to make use of another nearby piece of land for their benefit.

Profit à Prendre

The right to enter someone's land to remove something that exists naturally, such as minerals or crops.

Rentcharges

The right to receive payment of a regular sum of money charged against the owner of a fee simple estate.

Home Rights

The statutory rights allowing a spouse or civil partner the right to occupy the family home.

Constructive Trust

A trust recognized by the court when someone has made substantial contributions to property, suggesting shared ownership.

Proprietary Estoppel

A legal doctrine preventing a landowner from denying rights to a third party who has relied on the representation of rights.

Estate Contract

A right acquired by a purchaser once they agree to buy land, before legal ownership is transferred.

Option

A right that allows the grantee to insist on purchasing or leasing land within a fixed time.

Trust

A legal arrangement where a trustee manages property for the benefit of a beneficiary.

Root of Title

The most recent conveyance of a property that is at least fifteen years old.