Business Law Case Solution And Analysis, HBR Case Study Solution & Analysis of Harvard Case Studies

Introduction

The chapter “Law of Property: Real and Personal” basically discusses the elements and aspects of the law of property. The major topics that are explored in the study are the real property, the interests in the real property, the voluntary transfer of the real property, the involuntary transfer of real property, the restrictions on the use of the land, the personal property and the global dimensions of the property law.

Moreover, as per the definition of property, it is basically a bundle of the various rights, with respect to the relationship with others, to possess, to use and to dispose of a tangible or an intangible object.Furthermore, it is facts that whenever people hear about the property, they tend to think that it generally includes the land, the asset, cars, house, property etc. (Badenhorst, 2006)

However, the overall essence of the term property is a mechanism where the owner excludes all other people. Along with this, it is a fact that the property rights do differ in every society and they tend to change their focus for different geographic regions.

The chapter basically looks to explore the fact where the property rights can be different and their impact can be different on the society and over the business in different societies. Moreover, it is a fact that the different types of properties look to offer three primary types of properties. These include the land, the tangible and the intangible property (Badenhorst, 2006).

Therefore, property is directly related to the overall poor one has in the society. Most of the researchers have looked to argue the government should definitely offer more protection for the owners of the property. Along with this, the property rights even provide a basis for the decision making. It is a fact that a property owner has some rights which he shall utilize in rather different situations (Hann, 2007).

Summary

Real Property

The paper basically defines the actual meaning of real property which means that the term real property means the land and all the things that are attached to it come under this category. Moreover, the chapter further explains that sometimes it things are not permanently attached to the mind; therefore, their functioning is said to rather essential to the overall functioning of the structure (Stoebuck, 2000).

Fixtures

Along with this, the paper even discuss the concept of fixture which determines that an item that has been initially a part of the personal property shall be later attached to the reality and then used and treated as part of the reality (Probate and Property: 1987).

Interests in the real property

The chapter further explains the concept of estates in land. Over here, it has five estates which are as follows:

Free simple absolute:

Over here, the first one is the free simple absolute which is the most common estate. It is the easiest concept of estate because over here one single owner possesses the land; once he dies the interest is then passed to the owner’s family. This is the most easiest and convenient estate.

Conditional Estate:

The second estate is the conditional estate where the right to own and to possess the land which is rather subject to a condition whose activities might terminate the estate. It is quite similar to absolute estate however; it has one condition where the interest shall be terminated.

Life Estate:

The third step discussed in the chapter is the life estate. Over here, the owner has the entire official right to own the land until he or she dies. The situation is quite one sided and can be understood easily.

Future Interest:

In this situation, a common man is accountable to own a land in the future. Until a person is the owner, he is accountable for all the interest for the land, once he dies it shall pass on to some other person.

Leasehold Estates:

The fourth one is the leasehold estates. Over here, the right to actually possess the property for an agreed upon period of time that has been stated in the lease. As the chapter further explains, a lease is basically a contract that looks to transfer the possessory interest.

Easements:

Easements is a situation where a person or an individual shall be legally authorized to use a specific part of someone else land for his personal use....................

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