Property Law - Roles, Interests, and Principles in Australia

Running Head: PROPERTY LAW
Property Law
Name of the Student:
Name of the University:
Author Note

1
PROPERTY LAW
Q 1
(a) Land title
A land title can be termed as a bundle of rights which the owner of a property is provided in
relation to such property by the state. This signifies that the property belongs to that person and
he can sell the property or use it in any way he wants.
(b) Real and personal property,
A real property is a property which is fixed to the land such as land and buildings. They are also
known as immovable property. In the other hand a personal property is a a movable property
such as a Car or electronic appliance.
(c) Crown Land,
Any land which is managed and owned by the state government is known as a crown land such
as land retained for environmental purpose.
(d) Freehold,
Freehold title signifies that the property is owned in perpetuity outright. This means that the
property is free from hold by any person other than the owner.
(e) Leasehold,
A leasehold land is described as an ownership of a temporary right of holding a property or land
where the tenent or lessee is provided right in the property via some title from the landlord.

2
PROPERTY LAW
(f) Joint tenancy,
This is a form of ownership where there is no separate rights of the parties in the property. If a
party dies his or her shares moves to the other joint tenant.
(g) Tenancy in common.
This is a form of ownership where there is separate rights of the parties in the property. If a
party dies his or her shares moves to the legal heirs of the party.
Q 2
Describe briefly the various roles and interests in land including
1. Mortgages
A mortgage can is form of a debt instrument which is secured via a collateral of particular real
property, where the borrower has an obligation to pay back along with interest. These are used
by businesses and individuals to purchase real estate without paying the total money at once. The
loan is repaid over a period of many years and if not paid it may allow the bank or financial
institution which have provided the loan to foreclose the property.
2. Covenants