LAW OF PROPERTY Essay Example | Topics and Well Written Essays - 2500 words

LAW OF PROPERTY - Essay Example In present times the significance of tenures is brought out by the development of estates in land. All the land being held by the Crown means that one does not own land; rather one holds an estate in land. No one is considered as the owner of the land by the common law of property while it permits a wide range of estates. Estate defines how long a right to a land will last. There are two forms of estate namely the life estate and the fee simple. A life estate is a right to the land for life. It can be considered the ownership of land. On the other hand, fee simple is a right which lasts indefinitely and can be passed on death of the holder by will or intestacy. A wide range of interests can be created in land. Leases, easements, mortgages, covenants and licenses are some of the interests in private landholding system. (â€Å"LAA) to include all land other than alienated land. This includes all land within the limits of the State that forms the airspace, seabed and coastal waters of the State. Government department or statutory authority has all the rights and obligations of every landowner. The LAA is the State’s primary statute for dealing with Crown Land. The LAA defines an â€Å"interest† (Crown Land Administration and Registration Practice Manual) in relation to Crown land in section 3. "Interest", in relation to Crown land, means, Crown lease, easement, lease, mortgage, profit à ¡ prendre or other interest, including such interests as are lawfully granted or entered into by a management body, and their counterparts under the repealed Land Act 1933. The Minister for Lands is a body corporate that was established under the Land Act 1933 and continued in that capacity under the LAA. The Minister makes decisions on Crown land. In order to be effective all dealings creating intere sts or granting tenure in Crown land are registered under the