财产管理法与财务知识分析.pptx
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1、BUSINESS SCHOOLLegal Environment of BusinessThreshold Legal Concepts: PROPERTY2Property relevant legislationExamples of NSW statutes regulating property + long titles SALE OF GOODS ACT 1923 - An Act to codify and amend the law relating to the Sale of Goods. CONVEYANCING ACT 1919 - An Act to amend an
2、d consolidate the law of property and to simplify and improve the practice of conveyancing; and for such purposes to amend certain Acts relating thereto. REAL PROPERTY ACT 1900 - An Act to consolidate the Acts relating to the declaration of titles to land and the facilitation of its transfer. 3Prope
3、rty relevant legislationExamples of NSW statutes regulating property + long titles WILLS, PROBATE AND ADMINISTRATION ACT 1898 - An Act to consolidate enactments relating to Will, Probate and Administration FAMILY PROVISION ACT 1982 - An Act to amend the law relating to the assurance to the family of
4、 a deceased person and certain other persons of adequate provision from the estate of the deceased person and certain other property TRUSTEE ACT 1898 - An Act for consolidating Enactments relating to Trusts and Trustees. 4Property relevant legislationExamples of NSW statutes regulating property + lo
5、ng titles RESIDENTIAL TENANCIES ACT 1987 - An Act relating to the rights and obligations of landlords and tenants under residential tenancy agreements; to make provision with respect to excessive rent increases and rents; to confer functions on the Consumer, Trader and Tenancy Tribunal of New South
6、Wales with respect to landlords and tenants; to amend the Consumer Claims Tribunals Act 1974 in relation to rental bonds claims; and for other purposes. Property rights6Property concepts and definitions property can refer to -rights of ownership OR-objects of ownershipproperty can be -real property/
7、realty OR-personal property7Property concepts and definitionsReal propertyaction in rem or a real actionimmovableland, fixturesPersonal Propertyaction in personam or a personal actionmovablesgoods/chattels etctangibles/intangiblesReal property9Real Propertyreal property = land + fixtureswhat is land
8、?Latin maxim: cuis est solum eius est usque ad coelum et ad inferosis land the surface and everything under it to the centre of the earth and everything above it to the heavens?Physical limits of land10 Physical limits of land the substratum Landowner does not own royal minerals (gold and silver) an
9、d Crown land grants usually reserve rights in minerals, petroleum etc under the surface to the Crown.Physical limits of land11 Physical limits of land the airspace above the surface Problems with overhanging branches, signs and cranes, aerial photography etc How far does the landowners interest in l
10、and extend?Real property: physical limits of land12Bernstein of Leigh (Baron) vSkyviews & General Ltd 1978 1 QB 479Student case presentationTopic 4Strata title13 Strata title legislation creates title in blocks of airspace above the surface of the land, making it possible to create separate ownershi
11、p of units in a multi-storey building. The legislation also creates a body corporate (consisting of the various owners) to own and control common property.14Real Property real property = land + fixtures what is a fixture? Latin maxim: quicquid plantatur solo, solo cedit does everything that is fixed
12、 to the land become part of the land, e.g. buildings and things fixed to buildings ? when is it important to know whether or not it is a fixture?Fixtures15 Is it a fixture? depends on the intention of the person who affixed the item of personal property to the land: Australian Provincial Assurance C
13、o Ltd v Coroneo (1938) 38 SR (NSW) 700 In determining intention, consider:- degree of annexation- purpose of annexation- ease of removal- damage caused by removal.Real property: fixture?16National Australia Bank Limited v Blacker 2000 FCA 1458 (16 October 2000)Student case presentationTopic 4Persona
14、l PropertyPersonal Property - definitionsPersonal property = any property that is not real propertyIncludes:- chattels real - leasehold interest- chattels personal- choses in possession- choses in action18Personal Property - definitions What is personal property ?- chose in possession= tangible item
15、 of personal propertyphysical thingseg books, furniture, cars, jewellery- ownership may be:- absolute i.e. a right to ownership superior to any other- possessory i.e. a right to ownership arising from mere possession and subject to being overridden by the absolute owner but otherwise good title.19Pe
16、rsonal Property20Ownership v Possession rights of the owner v rights of the person in possession“possession is nine-tenths of the law” rights to things found on anothers property- Armory v Delamirie (1722) 93 ER 664- National Crime Authority v Flack (1998) 86 FCR 16Personal Property - bailment A bai
17、lment is where one person (the bailee) takes possession of the goods of another (the bailor) but does not assume ownership Examples include:- leaving your computer with a repairer- storing your goods in a warehouse- leaving your car in a car park- borrowing a book from the library. Duties of a baile
18、e, if not specified in a contract, include:- the duty to retain possession of the goods during the bailment and to care for them- the duty to take care of the goods- the duty not to make unauthorised use of the goods- the duty to return the goods upon expiration of the bailment21Personal Property -
19、definitions What is personal property ?- chose in action= intangible personal property rightexamples: debts, shares, patents, copyright, statutory licences, negotiable instruments etc (legal); and examples: partners interest in a partnership, right to a legacy under a will, an interest in a trust es
20、tate (equitable)- rights are claimed or enforced by taking legal action not by taking physical possession22Interests in landFreehold interests Estate in fee simple Life tenancy Tenancy in remainderCo-ownership of any interest Joint tenants Tenants in commonLeasehold Landlord (usually fee simple) Ten
21、ant ( possessory interest )Acquiring ownership of property by operation of law- bankruptcy- Bankruptcy Act 1966 (Cth): property vests in trustee; not/available for payment of debts- court settlement- execution of a court judgment- writ over land or writ of execution over goods- compulsory acquisitio
22、n by government- Commonwealth Constitution:section 51 (xxxi) the acquisition of property on just terms from any State or person for any purpose in respect of which the Parliament has power to make laws;- administration of intestate estate24Acquiring ownership of property by consent/agreement- Sale-
23、contracts for the sale of land: Conveyancing Act 1919; Real Property Act 1900- contracts for the sale of goods: Sale of Goods Act 1923- Gift- Declaration of trust- Assignment of chose in action- Inheritance under a will25Contracts for the sale of land contract must be in writing otherwise it is not
24、enforceable standard forms conveyancing procedure- preparation of the written contract; exchange or signing of contracts; searches and inquiries; settlement Torrens System - Real Property Act 1900 (NSW)- Registrar General/ Land Titles Office/public register- the state/government issues a certificate
25、 of title that is conclusive evidence of ownership- the state/government maintains a register of all interests in land e.g. mortgages- the registered owner/proprietor has indefeasible title262728Contracts for the sale of goods SALE OF GOODS ACT 1923 - SECTION 6(1)(1) A contract of sale of goods is a
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