Property Law Principles

  1. Ownership
    1. Sole Ownership
      1. Definition and characteristics
        1. Full control and decision-making authority by a single owner
          1. Benefits and drawbacks
            1. Sole responsibility for liabilities and obligations
            2. Creation of sole ownership
              1. Purchase
                1. Inheritance
                  1. Bequest
                2. Co-Ownership
                  1. Definition and criteria
                    1. Multiple individuals sharing rights and responsibilities over a property
                    2. Joint Tenancy
                      1. Right of Survivorship
                        1. Automatic transfer of interests to surviving co-owners
                          1. Limits and restrictions
                          2. Creation and termination
                            1. Unities of possession, interest, time, and title
                          3. Tenancy in Common
                            1. Interests and rights
                              1. Individual shares that may be unequal
                                1. Transferability of shares without affecting others
                                  1. Rights to partition and sale
                                  2. Partition
                                    1. Methods of partition (in kind vs. by sale)
                                      1. Judicial partition procedures and outcomes
                                    2. Tenancy by the Entirety
                                      1. Spousal property considerations
                                        1. Special protections and rights for married couples
                                        2. Termination of tenancy by the entirety
                                          1. Divorce or death
                                            1. Agreement to change the form of ownership
                                        3. Responsibilities and Liabilities in Ownership
                                          1. Financial obligations
                                            1. Mortgage and loan obligations
                                              1. Tax obligations and considerations
                                                1. Insurance requirements and coverage options
                                                2. Maintenance and upkeep responsibilities
                                                  1. Regular property maintenance tasks
                                                    1. Liability for failure to maintain property
                                                  2. Ownership Rights
                                                    1. Right to possess and use the property
                                                      1. Restrictions imposed by law or agreements
                                                      2. Right to exclude others from the property
                                                        1. Easements and rights of way affecting exclusion rights
                                                        2. Right to transfer or encumber property
                                                          1. Methods of transferring ownership interests (deeds, sales, gifts)
                                                            1. Limitations on transferability (liens, mortgages)
                                                            2. Right to enjoy the property
                                                              1. Enjoyment without interference from others
                                                            3. Acquiring Ownership
                                                              1. Methods of acquisition
                                                                1. Purchase, gift, or inheritance
                                                                2. Verification of ownership
                                                                  1. Title search and assurance
                                                                  2. Challenges and disputes in acquiring ownership
                                                                    1. Resolution processes including mediation and litigation