Property Laws

Property Laws:- Property is the area of the law that governs a various forms of ownership in real property (land and district form personal or movable possessions )  and in personal property within the common law legal system. In the civil law system, there is a division between movable and immovable property Movable property roughly corresponds to personal property ,which immovable property corresponds to the real property or real estate, and the associated rights and obligations thereon. The concept ,idea or phylosophy of property underlies all property law .In some jurisdictions historically all property was owned by the monarch and it devolved through feudal land tenure or other feudal system of loyalty and realty. Though the Napoleonic code was among the first government acts of modern times to introduce the notion of absolute ownership into statute ,protection of personal property rights was present in medical Islamic law and jurisprudence  and in more feudalist in the common law courts of medieval and early modern England.

Classification- Generally property is divided into two types.(a) Corporeal hereditaments-tangible real property (b) incorporeal hereditaments- intangible real property such as an easement of way.

Possessions- The concept possession developed from a legal system whose principal concern was to avoid civil disorder .The general principle is that in possession of land or goods, even as a wrongdoer,l is entitled to take action against anyone interfering with the possession unless the person interfering is able demonstrate a superior right to do so.

Transfer of Property- The most usual way of acquiring ,an interest in property is as the result of a consensual transaction with the previous with the previous owner ,for example , a Sale or a Gift. Dispositions by will may also be regarded as consensual transactions, since the effect of a will is to provide for the distribution of the deceased person’s property to nominated beneficiaries. A person may also obtain an interest in property under a Trust established for his or hr benefit by owner of the property.

It is also possible for property to pass from one another independently of the consent of the property owner .For example ,this occurs when a person deis Intestate goes Bankrupt of has the property taken in execution of a court judgement.

Lease-  Lease is a contractual arrangement calling for the lessee (user) to pay the lesser(owner) for use of an asset.

The narrower term rental agreement can be used to describe a lease in which the asset is tangible property .Language used is that the user rents the land of goods let of rented out by the owner .The verb to lease is less precise as it can refer to either of these actions.