definitions of property 2 slide show
TRANSCRIPT
Welcome to Property Law!!
This tutorial exercise tests your knowledge of Property Law definitions
As you go through the slides, follow the instructions and mark the correct answer
If you get an answer wrong, you will be linked to a definition or other information to help you clarify the information, then you will get another opportunity to try the question you got wrong the first time
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Definitions
Acts Interpretation Act s36
Acts Interpretation Act S36
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Definitions in AIA s36:Select which definition below best fits the term Legal by pressing the button next to your answer:
Deriving authority from or founded on law
Existing or valid in equity as distinct from common or statue law, based on fairness and justice
Possessing a physical form that can be touched or felt
That which is owned by an individual or business which is not affixed to or associated with the land
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term EQUITABLE by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
Existing or valid in equity as distinct from common or statue law, based on fairness and justice
Deriving authority from or founded on law
A personal right which does not give possession and can only be claimed or enforced through legal action
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term ESTATE by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
Having a right to take possession through ownership
An absolute, immediate, inalienable right or title
Possessing a physical form that can be touched or felt
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term INTEREST by pressing the button next to your answer:
Existing or valid in equity as distinct from common or statue law, based on fairness and justice
Any right, claim, or privilege that an individual has toward real or personal property
An absolute, immediate, inalienable right or title
Dependent upon the possible occurrence of a future event, the existence of which is not assured
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term VESTED by pressing the button next to your answer:
Dependent upon the possible occurrence of a future event, the existence of which is not assured
That which consists of land and all rights and profits arising from and annexed to land
Deriving authority from or founded on law
An absolute, immediate, inalienable right or title
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term CONTINGENT by pressing the button next to your answer:
That which is owned by an individual or business which is not affixed to or associated with the land
Dependent upon the possible occurrence of a future event, the existence of which is not assured
Deriving authority from or founded on law
Existing or valid in equity as distinct from common or statue law, based on fairness and justice
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term tangible by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
Possessing a physical form that can be touched or felt
Deriving authority from or founded on law
An absolute, immediate, inalienable right or title
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term intangible by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
Existing or valid in equity as distinct from common or statue law, based on fairness and justice
Property that is a right and is lacking physical existence
Dependent upon the possible occurrence of a future event, the existence of which is not assured
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term REAL PROPERTY by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
That which consists of land and all rights and profits arising from and annexed to land
Deriving authority from or founded on law
Possessing a physical form that can be touched or felt
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term personal property by pressing the button next to your answer:
That which consists of land and all rights and profits arising from and annexed to land
Having a right to take possession through ownership
That which is owned by an individual or business which is not affixed to or associated with the land
Property that is a right or is lacking physical existence
Definitions in AIA s36:
Excellent! Now select which definition below best fits the term things in action by pressing the button next to your answer:
Any right, claim, or privilege that an individual has toward real or personal property
Having a right to take possession through ownership
Property that is a right or is lacking physical existence
A personal right which does not give possession and can only be claimed or enforced through legal action
LEGAL6
1. of or relating to law 2. a : deriving authority from or founded on law : de jure
b : having a formal status derived from law often without a basis in actual fact : titular <a corporation is a legal but not a real person> c : established by law; especially : statutory
3 conforming to or permitted by law or established rules 4 recognized or made effective by a court of law as
distinguished from a court of equity 5 of, relating to, or having the characteristics of the profession
of law or of one of its members 6 created by the constructions of the law <a legal fiction>
http://www.merriam-webster.com/dictionary/legal
LEGAL9
1. of or relating to law 2. a : deriving authority from or founded on law : de jure
b : having a formal status derived from law often without a basis in actual fact : titular <a corporation is a legal but not a real person> c : established by law; especially : statutory
3 conforming to or permitted by law or established rules 4 recognized or made effective by a court of law as
distinguished from a court of equity 5 of, relating to, or having the characteristics of the profession
of law or of one of its members 6 created by the constructions of the law <a legal fiction>
http://www.merriam-webster.com/dictionary/legal
LEGAL10
1. of or relating to law 2. a : deriving authority from or founded on law : de jure
b : having a formal status derived from law often without a basis in actual fact : titular <a corporation is a legal but not a real person> c : established by law; especially : statutory
3 conforming to or permitted by law or established rules 4 recognized or made effective by a court of law as
distinguished from a court of equity 5 of, relating to, or having the characteristics of the profession
of law or of one of its members 6 created by the constructions of the law <a legal fiction>
http://www.merriam-webster.com/dictionary/legal
LEGAL11
1. of or relating to law 2. a : deriving authority from or founded on law : de jure
b : having a formal status derived from law often without a basis in actual fact : titular <a corporation is a legal but not a real person> c : established by law; especially : statutory
3 conforming to or permitted by law or established rules 4 recognized or made effective by a court of law as
distinguished from a court of equity 5 of, relating to, or having the characteristics of the profession
of law or of one of its members 6 created by the constructions of the law <a legal fiction>
http://www.merriam-webster.com/dictionary/legal
LEGAL13
1. of or relating to law 2. a : deriving authority from or founded on law : de jure
b : having a formal status derived from law often without a basis in actual fact : titular <a corporation is a legal but not a real person> c : established by law; especially : statutory
3 conforming to or permitted by law or established rules 4 recognized or made effective by a court of law as
distinguished from a court of equity 5 of, relating to, or having the characteristics of the profession
of law or of one of its members 6 created by the constructions of the law <a legal fiction>
http://www.merriam-webster.com/dictionary/legal
EQUITABLE 5
1) just, based on fairness and not legal technicalities
2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief
3) That which is in conformity to the natural law
Equity is based on a judicial assessment of fairness as opposed to the strict and rigid rule of common law. For centuries, the commmon law was referred to as the law, in contrast with equity.
http://legal-dictionary.thefreedictionary.com/equitable
EQUITABLE8
1) just, based on fairness and not legal technicalities
2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief
3) That which is in conformity to the natural law
Equity is based on a judicial assessment of fairness as opposed to the strict and rigid rule of common law. For centuries, the common law was referred to as the law, in contrast with equity.
http://legal-dictionary.thefreedictionary.com/equitable
EQUITABLE10
1) just, based on fairness and not legal technicalities
2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief
3) That which is in conformity to the natural law
Equity is based on a judicial assessment of fairness as opposed to the strict and rigid rule of common law. For centuries, the common law was referred to as the law, in contrast with equity.
http://legal-dictionary.thefreedictionary.com/equitable
EQUITABLE12
1) just, based on fairness and not legal technicalities
2) refers to positive remedies (orders to do something, not money damages) employed by the courts to solve disputes or give relief
3) That which is in conformity to the natural law
Equity is based on a judicial assessment of fairness as opposed to the strict and rigid rule of common law. For centuries, the common law was referred to as the law, in contrast with equity.
http://legal-dictionary.thefreedictionary.com/equitable
ESTATE14
1. the totality of an individual’s ownership of money, real and personal property
2. the degree, quality, nature, and extent of one's interest in land or other property
3. possessions, property; especially : a person's property in land and tenements <a man of small estate>
4. the assets and liabilities left by a person at death
http://www.merriam-webster.com/dictionary/estate
ESTATE15
1. the totality of an individual’s ownership of money, real and personal property
2. the degree, quality, nature, and extent of one's interest in land or other property
3. possessions, property; especially : a person's property in land and tenements <a man of small estate>
4. the assets and liabilities left by a person at death
http://www.merriam-webster.com/dictionary/estate
INTEREST 6
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
INTEREST7
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
INTEREST11
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
INTEREST12
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
INTEREST13
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
INTEREST15
1. any and all, partial or total right to property or for the use of property, including an easement to pass over a neighbouring parcel of land, the right to drill for oil, a possibility of acquiring title upon the happening of some event, or outright title. While most often referring to real property, one may have an interest in a business, a bank account, or any article.
2. the financial amount (money) paid by someone else for the use of a person's money, as on a loan or debt
3. one's involvement in business or activities or with an individual which is sufficient to create doubt about a witness being objective---damaging his/her credibility---or it is sufficient connection to give a person "standing" (the right based on interest in the outcome of the lawsuit or petition) to bring a lawsuit on a particular matter or act on behalf of other people.
http://legal-dictionary.thefreedictionary.com/interest
VESTED7
1. An unconditional right of current or future enjoyment of title to and actual possession of property, whether personal or real
2. vested interest: A current right or title to possess a thing, even though the actual possession may not take place until sometime in the future
3. vested remainder: A property in the estate of a deceased that is limited to a certain specified person, whose enjoyment of same may be deferred to some future time
http://law.yourdictionary.com/vested
VESTED8
1. An unconditional right of current or future enjoyment of title to and actual possession of property, whether personal or real
2. vested interest: A current right or title to possess a thing, even though the actual possession may not take place until sometime in the future
3. vested remainder: A property in the estate of a deceased that is limited to a certain specified person, whose enjoyment of same may be deferred to some future time
http://law.yourdictionary.com/vested
VESTED11
1. An unconditional right of current or future enjoyment of title to and actual possession of property, whether personal or real
2. vested interest: A current right or title to possess a thing, even though the actual possession may not take place until sometime in the future
3. vested remainder: A property in the estate of a deceased that is limited to a certain specified person, whose enjoyment of same may be deferred to some future time
http://law.yourdictionary.com/vested
CONTINGENT8
1. there is no present interest or right but only a conditional one which will become effective upon the happening of the designated condition
2. contingent remainder: is the right to possess property after the death of a person who holds a life estate in the land provided a specified condition is fulfilled.
a) An owner of land who grants a life estate to a son, Jack, with a remainder to a daughter, Sue, if she marries, has created a contingent remainder, the contingency being the daughter's marriage
b) An owner of land who grants a life estate to a grandson, with a remainder to a granddaughter, if she marries, has created a contingent remainder based on two contingencies: that there is a granddaughter and that she marries
http://legal-dictionary.thefreedictionary.com/contingent
CONTINGENT9
1. there is no present interest or right but only a conditional one which will become effective upon the happening of the designated condition
2. contingent remainder: is the right to possess property after the death of a person who holds a life estate in the land provided a specified condition is fulfilled.
a) An owner of land who grants a life estate to a son, Jack, with a remainder to a daughter, Sue, if she marries, has created a contingent remainder, the contingency being the daughter's marriage
b) An owner of land who grants a life estate to a grandson, with a remainder to a granddaughter, if she marries, has created a contingent remainder based on two contingencies: that there is a granddaughter and that she marries
http://legal-dictionary.thefreedictionary.com/contingent
CONTINGENT12
1. there is no present interest or right but only a conditional one which will become effective upon the happening of the designated condition
2. contingent remainder: is the right to possess property after the death of a person who holds a life estate in the land provided a specified condition is fulfilled.
a) An owner of land who grants a life estate to a son, Jack, with a remainder to a daughter, Sue, if she marries, has created a contingent remainder, the contingency being the daughter's marriage
b) An owner of land who grants a life estate to a grandson, with a remainder to a granddaughter, if she marries, has created a contingent remainder based on two contingencies: that there is a granddaughter and that she marries
http://legal-dictionary.thefreedictionary.com/contingent
Tangible 5
1. capable of being touched; discernible by the touch; material or substantial
2. real or actual, rather than imaginary or visionary: the tangible benefits of sunshine
3. definite; not vague or elusive: no tangible grounds for suspicion
4. (of an asset) having actual physical existence, as real estate or chattels, and therefore capable of being assigned a value in monetary terms.
\http://dictionary.reference.com/browse/tangible
tangible7
1. capable of being touched; discernible by the touch; material or substantial
2. real or actual, rather than imaginary or visionary: the tangible benefits of sunshine
3. definite; not vague or elusive: no tangible grounds for suspicion
4. (of an asset) having actual physical existence, as real estate or chattels, and therefore capable of being assigned a value in monetary terms.
\http://dictionary.reference.com/browse/tangible
tangible11
1. capable of being touched; discernible by the touch; material or substantial
2. real or actual, rather than imaginary or visionary: the tangible benefits of sunshine
3. definite; not vague or elusive: no tangible grounds for suspicion
4. (of an asset) having actual physical existence, as real estate or chattels, and therefore capable of being assigned a value in monetary terms.
\http://dictionary.reference.com/browse/tangible
tangible13
1. capable of being touched; discernible by the touch; material or substantial
2. real or actual, rather than imaginary or visionary: the tangible benefits of sunshine
3. definite; not vague or elusive: no tangible grounds for suspicion
4. (of an asset) having actual physical existence, as real estate or chattels, and therefore capable of being assigned a value in monetary terms.
\http://dictionary.reference.com/browse/tangible
intangible14
1. Incorporeal property such as bank deposits, stocks, bonds, and promissory notes. Often used in the plural: a state tax on intangibles
2. Incapable of being perceived by the senses
3. Incapable of being realized or defined
4. Incorporeal
5. Something intangible, especially an asset that cannot be perceived by the senses. Often used in the plural: intangibles such as goodwill and dedication
http://www.thefreedictionary.com/intangible
intangible15
1. Incorporeal property such as bank deposits, stocks, bonds, and promissory notes. Often used in the plural: a state tax on intangibles
2. Incapable of being perceived by the senses
3. Incapable of being realized or defined
4. Incorporeal
5. Something intangible, especially an asset that cannot be perceived by the senses. Often used in the plural: intangibles such as goodwill and dedication
http://www.thefreedictionary.com/intangible
REAL PROPERTY9
1. all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property which may be the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate) the right to drill for oil or an easement across another's property
2. real property should be thought of as a group of rights like a bundle of sticks which can be divided. It is distinguished from the other type of property, personal property, which is made up of movable items
http://legal-dictionary.thefreedictionary.com/real+property
REAL PROPERTY 13
1. all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property which may be the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate) the right to drill for oil or an easement across another's property
2. real property should be thought of as a group of rights like a bundle of sticks which can be divided. It is distinguished from the other type of property, personal property, which is made up of movable items
http://legal-dictionary.thefreedictionary.com/real+property
REAL PROPERTY14
1. all land, structures, firmly attached and integrated equipment (such as light fixtures or a well pump), anything growing on the land, and all "interests" in the property which may be the right to future ownership (remainder), right to occupy for a period of time (tenancy or life estate) the right to drill for oil or an easement across another's property
2. real property should be thought of as a group of rights like a bundle of sticks which can be divided. It is distinguished from the other type of property, personal property, which is made up of movable items
http://legal-dictionary.thefreedictionary.com/real+property
personal property 5
1. Everything that is the subject of ownership that does not come under the denomination of real property; any right or interest that an individual has in movable things
2. Personal property can be divided into two major categories:
a) corporeal personal property, including such items as animals, merchandise, and jewellery; and
b) incorporeal personal property, comprised of such rights as stocks, bonds, patents, and copyrights.
http://legal-dictionary.thefreedictionary.com/personal+property
personal property10
1. Everything that is the subject of ownership that does not come under the denomination of real property; any right or interest that an individual has in movable things
2. Personal property can be divided into two major categories:
a) corporeal personal property, including such items as animals, merchandise, and jewelry; and
b) incorporeal personal property, comprised of such rights as stocks, bonds, patents, and copyrights.
http://legal-dictionary.thefreedictionary.com/personal+property
things in action (choses in ACTION)6
1. the right to bring a lawsuit to recover chattels, money, or a debt
2. a comprehensive term used to describe a property right or the right to possession of something that can only be obtained or enforced through legal action
used in contradistinction to chose in possession, which refers to cases where title to money or property is in one person but possession is held by another
3. examples of a chose in action are the right of an heir to interest in the estate of his or her decedent; the right to sue for damages for an injury; and the right of an employee to unpaid wages
http://legal-dictionary.thefreedictionary.com/chose+in+action
things in action (choses in ACTION)6
1. the right to bring a lawsuit to recover chattels, money, or a debt
2. a comprehensive term used to describe a property right or the right to possession of something that can only be obtained or enforced through legal action
used in contradistinction to chose in possession, which refers to cases where title to money or property is in one person but possession is held by another
3. examples of a chose in action are the right of an heir to interest in the estate of his or her decedent; the right to sue for damages for an injury; and the right of an employee to unpaid wages
http://legal-dictionary.thefreedictionary.com/chose+in+action