Lease on Property and Ownership Rights in Australian Laws

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Introduction
A lease on property by common law has been established as a grant of right to
exclusive possession of land for a determined term less than which the owner (grantor) has in
the land. Exclusive possession is fundamental in creation of leases and without it there is
otherwise no lease is agreement. 1
Ownership in the property rights system
Of particular interest for evaluation is the title property right - the right to property. The
legislation of the Australian laws establishes the powers of the owner by establishing the
rights “triad” that are traditional for civil law:
1) ownership;
2) use;
3) orders .
The combination of these rights (powers) constitutes the legal content of the right of
ownership as the broadest property right, providing the owner with the opportunity at his own
discretion (his authority and in his own interests) to use his property for any activity not
prohibited by law and to remove (exclude) all other persons from economic domination over
his property, if there is no his will.2 In assessing these three powers, for any subject, if he has
one or another set of rights to an object, the legal framework of opportunities for earning
income.Let us consider in more detail the three main elements (powers, functions) of the right
of ownership. Possession is the primary component of ownership is based on: the legislation
of Australian common law, legally secured (that is, based on the corresponding legal title)
1 Edwards, C. and Krendel, P., 2018.
2 Okerson, A.S., 2017.