BLAW211: Property
Section 6 of the LTA
- fraud means forgery or other dishonest conduct by the registered owner or the registered owner's agent in acquiring a registered estate or interest in land.
Chattels
Possession of physical thing e.g chair
Chose in Action
- intangible
- not capable of physical possession e.g shares
Acquiring Ownership
- Purchase
- Gift
- Vesting by Operation of Law
3 Rights to Define Ownership
- Possession
- Enjoyment
- Dispostion (ability to sell/give)
Classification of Estates
- Fee Simple
- Life Estate
- Stratum Estate
- Leasehold
Fee Simple
- Ends when owner dies
- duration uncertain
Life Estate
- Duration is for life of estate holder
- subject to rights of holder of land after life
Stratum Estate
- Land divided into units
Leasehold Estate
- duration in lease
- right to occupy and use subject to terms of lease
Bona Fide
Innocent purchaser for value
Equitable Interest
- e.g Good Faith
- arises when interest should be properly recognised on the basis of the good faith judgement
- title indicates beneficial interest
Constructive Fraud
- does not override indefeasibility
- usually occurs when special relationships so decide not take care