...INTRODUCTION Investing in the Australian property market is generally as strong today as it has ever been. The global financial crisis that hit the world in 2008 has certainly seen a slowdown in buying as investors are somewhat nervous, but was this temporary, or is it still something to be concerned about? The predictions by analysts are that this will only be a temporary slowdown in the property market. Time will tell! There are many reasons why property investors should not be running scared. Australia is in a rather unique position in that it has much diversification in its economy. There are one or two States that are not so well off in that regard, but there are also several States that have very strong reasons for going ahead with property investment. Queensland is the best placed State for property investment, with its varied mineral wealth, agriculture, fine weather that is attracting overseas migrants, tourism and continued growth. There are regions and suburbs in other States that are also receiving excellent growth, and we will cover these in further chapters. States affected during 2008 were NSW and SA, as they already had their own financial problems which had affected the finance of the two States overall. In saying that however, there are still areas of capital growth and good rental returns even in those States. Financing is always at the top of the list of concerns and the reason for this is due to the fact that finance is a constantly changing...
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...The laws associated to property can be very extensive when more than one person is the owner of the property. Before you purchase a property a lot of things should be taken into much consideration including your property rights. There is a thin line between what is really yours when you are sharing property with other individuals. The way you own your property will affect how it will be classified and who will receive it after your death. Joint of Tenants Rights of Survivorship In North Carolina there are three different types of ways that people can jointly own property together. Those three ways are through tendency by the entirety, joint tenancy and tenancy in common. Under joint tendency everyone involved share an equal stake in the property, meaning no one can own more than the next. In this case Andy, Floyd, Barney and Howard share the property equally. If either party chooses to sell their portion of the property they can. They do not need the approval of the other co-owners of the property to do so. If one of the owners dies the interest will automatically be divided equally amongst the other co-owners. (Brennan & Browne 377) Joint of tenants’ rights of Survivorship explains that when there is a living tenant the property is to be transferred or paid to that living party at your death, the property is not controlled by your will. (Mitchiner 2) Fortunately, Barney would not be accountable to pay any fees and his longtime property would not be foreclosed...
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...Topic: Property Barney has finally decided to retire after many years on the job as a deputy in a small North Carolina town and as a detective in the “big city” of Raleigh, NC. Though Barney sometimes appeared to be a bumbling law enforcement officer, it turns out that he was a dutiful saver and a shrewd investor who now owns an interest in a second home on the North Carolina coast as well as some prime real estate in the North Carolina mountains. Barney purchased the mountain property some 31 years ago as joint tenants with a right of survivorship with his old friends Andy, Floyd, and Howard. All of the friends have passed away, and Barney has not been back to the property in more than 20 years. Andy had apparently indicated in his will that he was leaving his interest in the property to his son Opie, and, a few years back, Opie took out a personal loan using his alleged interest in the property as collateral. When Opie defaulted on the loan last month, the lender initiated a legal action to foreclose on the property. Barney hired an old friend with whom he used to go to church (who is now an attorney in Raleigh) to address the lender’s legal action. The matter is still pending. Remembering that a trout-filled stream ran through the property, Barney decided to do a little fly-fishing. Driving out to the property, Barney was surprised to see smoke rising from the stone chimney of a little cabin that some unknown person had constructed in the center of the property. Approaching...
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...Assignment #1 Real Property Law Assignment #1 Real Property Issue The issue in this case falls under the State laws applicable in Boring, Oregon. Under the applicable contract law, in cases involving reward offers, the person must pay off the reward. Bart agreed to offer a reward on the return of his lost property. Could Bart be retracted from paying off the reward; as it is Alan’s duty to return the property. Can Alan place a condition for the return. In the light of applicable laws in Boring, Oregon and major court precedents; we would attempt to find probable alternatives that could be imposed by a Court of law. Rule Under the State laws applicable in Boring, Oregon; both the finder of the property and the actual owner possess their rights. According to the Oregon Revised Statues (2012): • The ORS § 98.005 (2011) Title 10 under the Property Rights & Transactions of Abandoned Property. The duties and rights of the owner and the finder of the lost property are enforced under the 98.005 Rights & duties under the Oregon Revised Statues. • The section 489 U.S. 1011, 109 S. Ct. 1120, 103 L. Ed. 2d 183, 1989 under Oregon laws covers the rights of the property owner in cases if the property is misplaced or lost. • The present legislations on Real Property and Contract law clearly hold” that the finder of the lost property must find the actual owner of the property. • The law § 98.005 allows the finder to claim the found property if the owner could...
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..."Intellectual Property" a Violation of Real Property By memenode on 10 Nov 2009 Unless you really want to believe in something you know is a lie you probably wont be inclined to believe people who express inconsistent ideas. Free Software or Open Source Software have been typically attacked by people who do appear to believe quite strongly in property ownership. If you create something, they would argue, then you are entitled to control it. How else are you gonna get compensated for it? I of course agree to this extent, but I don't quite agree with the typical progression of this argument which sees the fact that most Free Software is given away or distributed under terms which allow free copying and sharing to be an affront to this right to compensation. Ignoring for the moment the fact that the software developer still gets to choose whether to distribute under those terms (something (s)he'd be able to do to a large extent even if copyright was abolished today), this argument fails to take into account the fundamental nature of software which excludes it from the possibility of being owned, unless you consider a program as one with the medium. Software cannot exist on its own. It always needs a medium. Software are simply arrangements of ones and zeros represented one way or another by physical properties of a medium such as micro or nanoscopic dents in a compact disk. If you consider software as distinct from the storage media or memory in which it remains you're essentially...
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...Property Management Can anyone here tell me what the role of a property manager is? Madam Toastmaster, ladies & gentlemen. My name is ____________ and I am currently employed as a property manager at a local real estate agency. I manage almost 300 rental properties and have a great team backing me up Tonight I would like to share with you a very small part of what is involved in property management. While my responsibilities vary from property to property, I have to maintain a few basic skills such as good time management, good people skills and an eye for detail. When you are looking after almost 300 properties, these skills are essential. I would like to talk to you tonight about 3 important steps I need to follow when a new tenancy commences 1. Finding & screening new tenants 2. Completing an entry condition report for the property 3. Managing tenants and their needs FINDING & SCREENING NEW TENANTS Tenants are the vital lifeline of any rental property because no tenant means no rental income for an owner. Part of my role as a property manager is to effectively advertise rental properties and in turn find an appropriate tenant. When a prospective tenant comes into the office, I have a critical task at hand screening the potential tenant. This is a 2 step process. Step 1 involves showing any interested tenants around the rental property. While I am doing this I need to find out as much as I can about them. I want to make sure they are suited...
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...Real Property Essay Re: Bart Vs Alan Facts: Alan found an object belonging to Bart in the state of Oregon. Alan found this object prior to Bart offering a reward for it’s return. Bart now does not want to give the reward to Alan upon the return of the object. Issue: Under Oregon Law, Alan is required to return the object to Bart. Can Alan insist on the reward before returning the object? Rule: In MacFarlane v. Bloch, 59 Ore. 1 (Or. 1911) a pocketbook was found by the plaintiff belonging to Bloch. The pocketbook was found prior to Bloch offering a reward for it’s return. The plaintiff asked for the reward as a condition for the return. The defendant refused and had MacFarlane arrested for larceny. The plaintiff returned the pocketbook and was released. The plaintiff proceeded to sue for the reward. The court determined that the reward should be given to MacFarlane, “it was immaterial that she found the book before the offer was made, the reward not being for the finding but for the returning of the book”and “plaintiff complied with this condition of the offer.” Thus, it completed “the contract, making defendant liable for the award.” The court ruled the plaintiff was entitled to the reward and could hold the lost item until the reward was paid. In Watts v. Ward, 1 Ore. 86 (Or. 1854) horses were found by the defendant and an attempt was made to return them to the plaintiff. However, in the process of delivering the horses they were used for driving cattle, hunting...
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...Reconstruction of John Locke’s View on Private Property In chapter 5 of Locke’s Second treatise on Civil Government, Locke gives his view on property. He starts off stating that the earth serves as common property to all man. However, he starts the chapter with the main question of how one’s own self property came to exist. Locke states that the problem that arises is how to differentiate all of mankind’s common property to one’s own. Locke states “there must of necessity by a means of appropriate them some way or other before they can be of any use, or at all beneficial to any particular man” (Locke, 286). Thus, Locke states that man must have a way to claim his or her own property through a certain manner where they can now claim it their own, and not all of mankind. This thing is done through labor. “The Labour of his Body, and the Work of his Hands, we may say, are properly his. Whatsoever then he removes out of the State that Nature hath provide, and left it in, he hath mixed his Labour with, and joyned to it something that is his own, and therby makes it his Property” (Locke, 287-288). Each individual has their own body and therefore owns their own labor since it is produced by their body. Mixing one’s own property, such as their labor, with a common property or foreign property shared amongst others then makes that specific property one’s own. Locke further mentions how labor puts a distinction between what one owns and what is shared by all mankind. He gives an...
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...Locke’s property Locke was born in 1632, when king Charles 1 was in his throne. What we learn about Locke is his ideas about religion, natural law, Social contract, etc but he was also a doctor and a revolutionist. In his famous writing, “Second treatise of government”, he appealed his idea about property. According to the chapter 5, property, he is saying that property is a right that is given by god to human beings. And property can be owned when it is mixed by own person’s labour. But simultaneously, Locke said that there should be consent of the other people. Also he said that there is a limitation on property. For example, by picking apples and through that labour apples become my property. However, if anyone possesses more than he or she could get, then it is the violation of the natural law. Therefore people started to barter of their surplus properties. Also money had invented such as gold and silver that are never gonna rot in a short time, which made barter more easily. So, human mankind could expand their property and can be free within the boundary of natural law. If the property is robbed by another person then the owner of the property have right to punish the thief. But, protect own indivisual’s property more secure, people came to the idea of Social contract. The important point here is that Locke’s government made by citizen’s contract can never deprive property out of the citizen’s pocket. Even one penny. In other words, government can deprive life of...
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...Property rights are the ownership rights an entity or person has over something. It is exclusive authority as to how a resource will be used or sold. The owner of the property can also have “private property rights” “Private property rights are exclusively held by an owner and protected against invasion by others. Private property can be transferred, sold or mortgaged at the owner’s discretion.” (J.D Gwartney, R.L Stroup, R.S Sobel, D.A Macpherson 2015) A well-defined and enforced property rights are very important in shaping long run economic growth and prosperity. Property right gives protections against expropriation by government, in situations of high taxes, confiscation and price control. And from other institutions who facilitate private contracts between citizens. “In the developed world, the role of property as a foundation for economic growth is commonly taken for granted because it is omnipresent and generally secure. By contrast, the effects of the absence of property are acutely felt in many developing countries. These effects are typically manifested by a disproportionately large level of informal economic activity.” (J.D. Sullivan & K,E Bettcher n.d.) There are several areas in property rights. Some ownerships are tangible and other are non-tangible. The property may be real estate, or it may be intellectual property like a copyright or trademark. A person may purchase a home, and have all rights to live in it, change the color of the walls, add a...
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...Name: - R B V Pratap Singh Roll No. 47LLB14 Synopsis Property Law Women's Right to Property under Hindu law: A Legal Analysis Introduction:- In India, it is no doubt that a woman is seen as pristine, pious and worshipped on one hand but on the other hand she faces discrimination against her gender identity and victimized by the societal norms created in male dominant society. She never got the legitimate place and never enjoyed a respected position in the society even after all the civilization and societal revolutions. Male superiority is still a legitimate concern for any society and adverse conditions for women are still widely prevalent. The emancipation of women and the accomplishment of full balance between genders should dependably be the essential goal of society. Such denial cannot be justified on any grounds – political, moral or legal and not even biological. If we look through the ancient Hindu Society, a woman did not enjoy any reasonable social status and looked upon as a dependent with hardly any property rights. Under the old Mitakshara Law, the son attains an interest and right in the family property on birth. According to this school, a son, grandson, and a great grandson constitute a class of coparceners, based on births in family. No female is a member of the coparcenary in Mitakshara Law. The constitution of India guarantees equality of opportunity and equal status to both men and women citizen. Since article 14 of the Constitution enshrines...
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...Introduction to Property Law: Coursework Assignment Mon, 11 July, 2011 Word count - 2380 1 (a) With regards to the European Court of Human Rights decision in J.A. Pye (Oxford) Ltd v. The United Kingdom (Application No. 44302/02) 30 August 2007, and the Court of Appeals decision in Emmanuel Ofolue v. Erica Bossert [2008] EWCA Civ 7; discuss the extent to which the provisions of the European Conventions on Human Rights and the Human Rights Act 1998, have impacted the doctrine of adverse possession in England & Wales. I will discuss the cases and the impact which the HRA 1998 and the ECHR have had on the decision making process within the courts with regards to the doctrine of, “adverse possession”, in the UK. Rationale of Adverse Possession in England and Wales. The rationale of adverse possession in England and Wales is that; i. There must be a demarcation in reality on the recognition of claims of ownership of property title. ii. As land is finite and therefore a precious commodity then it should be used to its full potential. The common-law doctrine of adverse possession, gave rise to the ease of appropriation of land ownership by squatters/trespassers. In J.A Pye v Graham, Pye were dispossessed of their title to land via a HOL/Supreme court decision, Pye v Graham [2002] UKHL 30, based upon the legislation within LR Act 1925 and Limitations Act 1980. In particular section 75 of LR Act 1925 transferred the title of land to the factual possessor...
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...PROPERTY LAW Angela This situation is clear to see that Co- ownership is involved. There are two parties involved in this co- ownership; Brad and Angelina. We are looking to see the type of ownership they got into and at the end what will they be entitled to. There are two forms of co- ownership; Joint tenancy and Tenancy in common. The presumption of Joint tenancy is that the joint tenants own the entire property in question. The presumption of Tenancy in common is that the tenants own a share of the property in question. Joint tenancy will only be applicable if the test of the four unities is satisfied. Difference with tenancy in common is that you only need to satisfy the unity of possession. Unity of time means the tenants interest of the property must commence at the same time as other tenants. Possession means that the entire co – owned land is the tenants’ entitlement. Interest means interests held should be the same as the duration and time. Title means that tenants involved should be given a title from the same supplier. Again, we need to understand the sort of co-ownership we are dealing with here before advising the parties. There is a slight hope that we are dealing with joint tenancy as all four unities are present in this scenario. However, there are pros and cons of being a joint tenant, one of which is severance. One of the methods of...
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...Property Rights The rights to use, control, and obtain the benefits from a good or resource is known as Property Rights (Gwartney, 2015). The views on this have been the same for ages. If you own a property you have the right to do with it as you please within the context of the law. Property Rights are attained by purchasing, inheriting or receiving the right. Private Property Rights is when you are the sole person or group to that particular asset. It consists of three things; the right to exclusive use of the property, legal protection against invasion and finally the right to sell. Harold Demsets the write of, “Toward a Theory of Property Rights” describes it using different wording. He explains that when a transaction is concluded in a marketplace there are two exchanges that create a Property Right. Also a bundle of rights often attaches its self to a physical commodity or service, and it is actually the value of the right that gives it its trade value. Learning that there are also regulations on a Property Right is interesting. Our book gives a scenario on how you can’t use your property to destroy or hinder someone else’s property A living example of a Property Right is buying a car. When you buy a car there is a transfer between two individuals of a good which would be the car. Once you become the owner of this vehicle you are instantly a Private Property owner. This means that you are able to do with the vehicle as you please. As long as you aren’t harming someone...
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...strategy and implementing industry best practices. My understandings of the issues are documented below. Please be prepared to clarify any misunderstandings I may have during our meeting next week. Issue 1. Types of intellectual property applicable to e-business Wikipedia (2006) describes intellectual property as ¡§a legal entitlement, which sometimes attaches to the expressed form of an idea, or to some other intangible subject matter. This legal entitlement generally enables its holder to exercise exclusive rights of use in relation to the subject matter of the intellectual property. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect, and that intellectual property rights may be protected at law in the same way as any other form of property.¡¨ The main types of intellectual property are trademarks, patents and copyrights. Trademarks will protect our company brand, patents will protect the inventions and copyrights will protect computer software literary work etc. In addition, trademark law will protect business information of a confidential nature. As long as the company company continues to use the trademark, the rights will never expire unlike other intellectual property rights. According to Rudnick (2004), ¡§the most misunderstood...
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