LAWS1150
Week 6(1) – PROPERTY LAW
Capitalist society – incentive to obtain assets and a system to protect these assets. Capitalist is more about individual rights, self-accumulation of wealth.
Communist country – more about ‘public’ rights – the state owns property and chooses some system of distribution.
Prevents exploitation of natural resources e.g. gold, trees, fishing areas e.g. around Australia.
TYPES OF PROPERTY
Physical and intangible property (copyrights, trademarks and patents).
Property RE spiritual beliefs – native title. Property RE chattel
Chattel v real property – chattel can be picked up and moved, proprietary = attached to the land.
Property RE family law.
ELEMENTS OF PROPERTY
Right to use and enjoy – but you have a duty not to harm others, as well as generate income.
Rights to exclude others – you’ve control and management over who comes in. Not only for owners but leaseholders have this right too. Also exclude others from using your intellectual property.
Right to alienate i.e. able to transfer the rights to other people – either through transfer of ownership, easements (giving up a right of way).
AM Honore - Right to possess, use, manage, generate income, as capital, security, transfer, is indefinite, duty to prevent harm to others, succession upon death, residuary rights.
“Relations between persons in relation to things”
E.g. Wills – who does what with which object.
Legal rights / legal relationships.
Corporation law (its own entity thus owns assets and liability) – furthermore shareholders also have ownership.
Blackstone – Property consists of
1) Must have dominion of it
2) Rights to exclude
3) Over a ‘thing’
Milirrpum v Nabalco – Blackburn
Right to use or enjoy, right to exclude and right to alienate – in this case, was not able to assert property rights because no rights to alienate.
Generally implied that these 3 properties exist for property rights to arise, however it may still exist in the absence of one
Capitalist society – incentive to obtain assets and a system to protect these assets. Capitalist is more about individual rights, self-accumulation of wealth.
Communist country – more about ‘public’ rights – the state owns property and chooses some system of distribution.
Prevents exploitation of natural resources e.g. gold, trees, fishing areas e.g. around Australia.
TYPES OF PROPERTY
Physical and intangible property (copyrights, trademarks and patents).
Property RE spiritual beliefs – native title. Property RE chattel
Chattel v real property – chattel can be picked up and moved, proprietary = attached to the land.
Property RE family law.
ELEMENTS OF PROPERTY
Right to use and enjoy – but you have a duty not to harm others, as well as generate income.
Rights to exclude others – you’ve control and management over who comes in. Not only for owners but leaseholders have this right too. Also exclude others from using your intellectual property.
Right to alienate i.e. able to transfer the rights to other people – either through transfer of ownership, easements (giving up a right of way).
AM Honore - Right to possess, use, manage, generate income, as capital, security, transfer, is indefinite, duty to prevent harm to others, succession upon death, residuary rights.
“Relations between persons in relation to things”
E.g. Wills – who does what with which object.
Legal rights / legal relationships.
Corporation law (its own entity thus owns assets and liability) – furthermore shareholders also have ownership.
Blackstone – Property consists of
1) Must have dominion of it
2) Rights to exclude
3) Over a ‘thing’
Milirrpum v Nabalco – Blackburn
Right to use or enjoy, right to exclude and right to alienate – in this case, was not able to assert property rights because no rights to alienate.
Generally implied that these 3 properties exist for property rights to arise, however it may still exist in the absence of one