In one way or the other, it is a source of wealth. "Ownership also involves a significant element of possession (refer Possessory Title) and … it can be stated that ownership of the land surface extends just so far in each direction upwards or downwards vertically as the owner is able to bring and retain under their effective control" (Donnelly 1985). Intangible property, ... supports a wide concept of “property” that includes intangible rights, especially rights under contracts, for purposes of expropriation. Although this idea may seem strange initially, it will become clear as the concept of property is studied. Key concepts Property as objects of rights. English land law draws on three main sources to determine property rights: the common law and equitable principles developed by the courts, a system of land registration and a continuing system for unregistered land. This simple concept includes a wide range of different legal disciplines. Property may be classified into- corporeal and incorporeal property, movable and immovable property, real and personal property, public and private property. We use cookies to distinguish you from other users and to provide you with a better experience on our websites. UNIT OBJECTIVES . Modern Trusts: Any type of property can be subject to a trust e.g. There are many reasons for this such as agreements reached by a previous owner or because you failed to notice how the land was used when you purchased it. There are different points of reference that have been set by the court in the acknowledgment of this concept. Land law impacts upon many facets of our day-to-day living, it determines: the difference between what is property and what is land; who owns property in the land; who may have access to land; your rights to land as a tenant, and; what you can do with your land. As jurisprudence also provides a description of other proprietary rights based on the property. Property Law - by Alison Clarke December 2005. Some landmark cases that have been decided are :- If one looks around in the surroundings, everything available may be categorized as Property. Land is often referred to as ‘real property’, which, in very basic terms, means property that is fixed and immovable — as distinct from personal property which, again in basic terms, means property (as in goods and chattels) that is not fixed and can be moved. This concept in the twenty–first century is, however, subject to limitation by statutory law and comes increasingly under challenge at common law. *You can also browse our support articles here >. The general principles of ownership at common law have long been established in the courts of equity, although the concept of extent of ownership has changed significantly in interpretation from the nineteenth to the twenty-first century. This unit is intended to acquaint students with the concept of patrimony and property, property law, the scope of property law, objects of property /things or objects/, classification of things and the purpose of classifying things in to various categories. Those theories are as follows: 1. The legal definition of real estate or real property is land and the buildings on it. International and Regional Human Rights Law and Land Rights. Labour Theory (Spencer): 3. Classification of property. These interests can be impacted depending on whether the land is registered or not registered. Trusts: Settlor(creates the trust) LAW | V Trustees (they hold the legal title) | Beneficiaries (they hold the equitable title. For example, an Act which regulates mining would naturally introduce substantial qualifications on the rights of an owner of land to take minerals from it" (Baalman 1979, p. 95). Article ... Indigenous and Tribal Peoples Convention No. He defined it as the law of property is the law of proprietary rights ‘right in rem’, the law of proprietary rights ‘in personam’ is distinguished from it as the law of obligations. The concept of property occupies an important place in human life because it is practically impossible to live without the use of material object which constitutes the subject matter of property. It has its counterpart in the law of State responsibility in the concept of a breach consisting of a composite act. "At common law, the term ‘land’ when used in relation to a particular parcel meant the surface of the Earth, the soil beneath the surface to the centre of the Earth and the column of air above the surface. Land is an essential input (factor of production) for agriculture, and agriculture is by far the most important economic activity in pre-industrial societies. Introduction First, real estate may be either residential or commercial. Take away law (that is, enforceable rights), and you eliminate the concept of property. It should also be noted that "in all States (of Australia) there are statutory definitions of ‘land’ which lay down the meaning to be ascribed to the term where it occurs in Acts of Parliament. Ultimately, land law is looking to determine what interests there are in the land and therefore what a person can do with the land. Land under common law is said to be held in ‘fee simple’, which describes a form of ownership that can be held by owners and their heirs indefinitely. Land use, land valuation, and the determination of the incomes of landowners, are among the oldest questions in economic theory. Apart from these and other similar statutory exceptions, the surface owner does own the airspace above their land in the sense that, subject to building regulations, they are fully entitled to extend their occupation of the air, for example, by building high-rise developments. The word ‘property’ is often used to refer to something that belongs to another. Land Law and Legal Definition The ordinary meaning of the word ‘land’ is that of dry superficies of the earth as distinguished from water or air. Real estate law governs who may own and use the land. The concept of commonhold land was created primarily to overcome difficulties faced by owners of leasehold property in enforcing covenants (that is promises to do, or not to do, something) against neighbouring properties, but it has not proved a popular device. Theories behind concept of property:-There are many theories which have been evolved for the purpose of understanding the concept of property properly. Land law is unusual in that you can own it outright but still be limited in how you can use it. The essential characteristic of Property is the value attached to it. The logical base of English land law ‘has finally shifted from empirically defined fact to officially defined entitlement’ [6] LRA 2002 has defined property in terms of registration, i.e. Concepts like that of Profit Prendre is a right to take something of someone’s territory. To acquire property over land (as with any other object of value), as opposed to a contract, for example, to use it, a buyer and seller simply needed to agreethat pr… Changing face of the law of property. As a legal term, land means not merely the dry superficies of the earth, but also comprises of all that has material form that man has received or can receive from nature, that is to say, from God. Function and substance of the law of property. Land Law focuses upon the uses and supply of land. Land is often referred to as ‘real property’, which, in very basic terms, means property that is fixed and immovable — as distinct from personal property which, again in basic terms, means property (as in goods and chattels) that is not fixed and can be moved. But … ‘property’ does not refer to a thing; it is a description of a legal relationship with a thing. Copyright © 2003 - 2021 - LawTeacher is a trading name of All Answers Ltd, a company registered in England and Wales. ©  Commonwealth of Australia on behalf of ICSM, PSMA’s Geocoded National Address File (G-NAF), United Nations Group of Experts on Geographical Names (UNGEGN), Electronic Lodgement and Transfer of Survey Data Working Group, SIDA Special Interest Group – Spatial Information Delivery and Access, The Australian Geospatial Reference System, Fundamentals of Land Ownership, Land Boundaries and Surveying, Upgrades to the Australian Geospatial Reference System. 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