LAND LAW SEMINAR 3 PROPERTY RIGHTS IN LAND AN INTRODUCTION Please remember to bri !

! "o#r stat#te boo$ a % t&e rele'a t le(t#re o#tli es to "o#r semi ar) Re*#ire% rea%i !+ Sexton and Bogusz: Chapter 1 A%%itio al semi ar ,re,aratio + Consider the meanings of the following property terms and make sure that you are able to discuss them !e erall" in the session !ou may need to do some research "in addition to the re#uired reading$ to find the meanings of some of the terms

%reehold & owned for indefinite time

'easehold ( limited time

)ortgage ad*ance

Second mortgage

+#uity, -egati*e e#uity

)ortgage

.emortgage

)ortgagor,)ortgagee

.edemption

Contract /ransfer %reehold co*enant

Co*enant

'easehold co*enant

+asement &

a certain right to use the real property of another without possessing it A profit a prendre is a right to take something from another

0rofit a prendre &

person's land. Matrimonial Home Rights is the name given to a collection of statutory rights which seek to protect a spouse in the occupation of the matrimonial home.
1ome rights (

a contractual arrangement by which the seller gives the prospective buyer a right to buy within a particular time.
2ption &

a contractual right to ac uire certain property newly coming into e!istence before it can be offered to any other.
.ight of pre&emption & Specific performance 3n4unction