It has been suggested that this article or section be merged into Real estate. (Discuss) Proposed since April 2010.

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In English Common Law, real property, real estate, realty, or immovable property is any subset of land that has been legally defined and the improvements to it made by human efforts: any buildings, machinery, wells, dams, ponds, mines, canals, roads, various property rights, and so forth. Real property and personal property are the two main subunits of property in English Common Law.

In countries with personal ownership of real property, civil law protects the status of real property in real-estate markets, where licensed agents, realtors, work in the market of buying and selling real estate. Scottish civil law calls real property "heritable property", and in French-based law, it is called immobilier.

Identification of real property[link]

To be of any value a claim to any property must be accompanied by a verifiable and legal property description. Such a description usually makes use of natural or manmade boundaries such as seacoasts, rivers, streams, the crests of ridges, lakeshores, highways, roads, and railroad tracks, and/or purpose-built artificial markers such as cairns, surveyor's posts, fences, official government surveying marks (such as ones affixed by the U.S. Geodetic Survey (USGS)), and so forth.

Estates and ownership interests defined[link]

The law recognizes different sorts of interests, called estates, in real property. The type of estate is generally determined by the language of the deed, lease, bill of sale, will, land grant, etc., through which the estate was acquired. Estates are distinguished by the varying property rights that vest in each, and that determine the duration and transferability of the various estates. A party enjoying an estate is called a "tenant."

Some important types of estates in land include:

• Fee simple: An estate of indefinite duration, that can be freely transferred. The most common and perhaps most absolute type of estate, under which the tenant enjoys the greatest discretion over the disposition of the property.
• Conditional Fee simple: An estate lasting forever as long as one or more conditions stipulated by the deed's grantor does not occur. If such a condition does occur, the property reverts to the grantor, or a remainder interest is passed on to a third party.
• Fee tail: An estate which, upon the death of the tenant, is transferred to his or her heirs.
• Life estate: An estate lasting for the natural life of the grantee, called a "life tenant." If a life estate can be sold, a sale does not change its duration, which is limited by the natural life of the original grantee.
  • A life estate pur autre vie is held by one person for the natural life of another person. Such an estate may arise if the original life tenant sells her life estate to another, or if the life estate is originally granted pur autre vie.
• Leasehold: An estate of limited duration, as set out in a contract, called a lease, between the party granted the leasehold, called the lessee, and another party, called the lessor, having a longer lived estate in the property. For example, an apartment-dweller with a one year lease has a leasehold estate in her apartment. Lessees typically agree to pay a stated rent to the lessor.

A tenant enjoying an undivided estate in some property after the termination of some estate of limited duration, is said to have a "future interest." Two important types of future interests are:

• Reversion: A reversion arises when a tenant grants an estate of lesser maximum duration than his own. Ownership of the land returns to the original tenant when the grantee's estate expires. The original tenant's future interest is a reversion.
• Remainder: A remainder arises when a tenant with a fee simple grants someone a life estate or conditional fee simple, and specifies a third party to whom the land goes when the life estate ends or the condition occurs. The third party is said to have a remainder. The third party may have a legal right to limit the life tenant's use of the land.

Estates may be held jointly as joint tenants with rights of survivorship or as tenants in common. The difference in these two types of joint ownership of an estate in land is basically the inheritability of the estate and the shares of interest that each tenant owns.

In a joint tenancy with rights of survivorship deed, or JTWROS, the death of one tenant means that the surviving tenant(s) become the sole owner(s) of the estate. Nothing passes to the heirs of the deceased tenant. In some jurisdictions, the specific words "with right of survivorship" must be used, or the tenancy will assumed to be tenants in common without rights of survivorship. The co-owners always take a JTWROS deed in equal shares, so each tenant must own an equal share of the property regardless of his/her contribution to purchase price. If the property is someday sold or subdivided, the proceeds must be distributed equally with no credits given for any excess than any one co-owner may have contributed to purchase the property.

The death of a co-owner of a tenants in common (TIC) deed will have a heritable portion of the estate in proportion to his ownership interest which is presumed to be equal among all tenants unless otherwise stated in the transfer deed. However, if TIC property is sold or subdivided, in some States, Provinces, etc., a credit can be automatically made for unequal contributions to the purchase price (unlike a partition of a JTWROS deed).

Real property may be owned jointly with several tenants, through devices such as the condominium, housing cooperative, and building cooperative.

Jurisdictional peculiarities[link]

In the law of almost every country, the state is the ultimate owner of all land under its jurisdiction, because it is the sovereign, or supreme lawmaking authority. Physical and corporate persons do not have allodial title; they do not "own" land but only enjoy estates in the land, also known as "equitable interests."

Australia and New Zealand[link]

In many countries the Torrens title system of real estate ownership is managed and guaranteed by the government and replaces cumbersome tracing of ownership. The Torrens title system operates on the principle of "title by registration" (i.e. the indefeasibility of a registered interest) rather than "registration of title." The system does away with the need for a chain of title (i.e. tracing title through a series of documents) and does away with the conveyancing costs of such searches. The State guarantees title and is usually supported by a compensation scheme for those who lose their title due to the State's operation. It has been in practice in all Australian states and in New Zealand since between 1858 and 1875, has more recently been extended to strata title, and has been adopted by many states, provinces and countries, and in modified form in 9 states of the USA.

England and Wales[link]

In the United Kingdom, The Crown is held to be the ultimate owner of all real property in the realm. This fact is material when, for example, property has been disclaimed by its erstwhile owner, in which case the law of escheat applies. In some other jurisdictions (not including the United States), real property is held absolutely.

English law has retained the common law distinction between real property and personal property, whereas the civil law distinguishes between "movable" and "immovable" property. In English law, real property is not confined to the ownership of property and the buildings sited thereon – often referred to as "land." Real property also includes many legal relationships between individuals or owners of land that are purely conceptual. One such relationship is the easement, where the owner of one property may enjoy the right to pass over a neighboring property. Another is the various "incorporeal hereditaments," such as profits-à-prendre, where an individual may have the right to take crops from land that is part of another's estate.

English law retains a number of forms of property which are largely unknown in other common law jurisdictions such as the advowson, chancel repair liability and lordships of the manor. These are all classified as real property, as they would have been protected by real actions in the early common law.

USA[link]

This section requires expansion.

Each U.S. State except Louisiana has its own laws governing real property and the estates therein, grounded in the common law. In Arizona^{[citation needed]}, real property is generally defined as land and the things permanently attached to the land. Things that are permanently attached to the land, which also can be referred to as improvements, include homes, garages, and buildings. Manufactured homes can obtain an affidavit of affixture.

Economic aspects of real property[link]

Land use, land valuation, and the determination of the incomes of landowners, are among the oldest questions in economic theory. Land is an essential input (factor of production) for agriculture, and agriculture is by far the most important economic activity in preindustrial societies. With the advent of industrialization, important new uses for land emerge, as sites for factories, warehouses, offices, and urban agglomerations. Also, the value of real property taking the form of man-made structures and machinery increases relative to the value of land alone. The concept of real property eventually comes to encompass effectively all forms of tangible fixed capital. with the rise of extractive industries, real property comes to encompass natural capital. With the rise of tourism and leisure, real property comes to include scenic and other amenity values.

Starting in the 1960s, as part of the emerging field of law and economics, economists and legal scholars began to study the property rights enjoyed by tenants under the various estates, and the economic benefits and costs of the various estates. This resulted in a much improved understanding of the:

• Property rights enjoyed by tenants under the various estates. These include the right to:
  • Decide how a piece of real property is used;
  • Exclude others from enjoying the property;
  • Transfer (alienate) some or all of these rights to others on mutually agreeable terms;
• Nature and consequences of transaction costs when changing and transferring estates.

For an introduction to the economic analysis of property law, see Shavell (2004), and Cooter and Ulen (2003). For a collection of related scholarly articles, see Epstein (2007). Ellickson (1993) broadens the economic analysis of real property with a variety of facts drawn from history and ethnography.

Historical background[link]

The word "real" ultimately derives from Latin res "thing" and was used in Middle English to mean "relating to things, especially real property".^[1]

In common law, real property was property that could be protected by some form of real action, in contrast to personal property, where a plaintiff would have to resort to another form of action. As a result of this formalist approach, some things the common law deems to be land would not be classified as such by most modern legal systems, for example an advowson (the right to present to the living of a church) was real property. By contrast the rights of a leaseholder originate in personal actions and so the common law originally treated a leasehold as part of personal property.

The law now broadly distinguishes between real property (land and anything affixed to it) and personal property (everything else, e.g., clothing, furniture, money). The conceptual difference was between immovable property, which would transfer title along with the land, and movable property, which a person would retain title to.

In modern legal systems derived from English common law, classification of property as real or personal may vary somewhat according to jurisdiction or, even within jurisdictions, according to purpose, as in defining whether and how the property may be taxed.

Bethell (1998) contains much historical information on the historical evolution of real property and property rights.

See also[link]

• Real estate
• Land tenure
• Mineral rights
• Landlord
• Fiefdom
• Benefice
• The Land Report
• Land ownership in Canada

References and further reading[link]

• Oswaldo D. Agcaoili, ISBN 971-23-4501-7ed., 2006, Property Registration Code. Agcaoili. Land Titles and Deeds: Property Law and Cases in the Philippines.

External links[link]

• International Real Property Foundation
• Lex Juris
• Real Estate & Property Law

This article needs additional citations for verification. Please help improve this article by adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2010)

Stefan Basil Molyneux Molyneux speaking at Drexel University Born 24 September 1966 Athlone, Ireland School Voluntaryism Main interests Anarcho-capitalism, Atheism, Austrian Economics, Education, Ethics, Family, Philosophy, Politics, Psychology, Religion Influenced by Aristotle, Nathaniel Branden, Harry Browne, Hans Hermann Hoppe, Alice Miller, Friedrich Nietzsche, Ayn Rand, Murray Rothbard, Socrates Influenced Ian Bernard

Stefan Basil Molyneux (born 24 September 1966) is a blogger, essayist, author, and host of the Freedomain Radio^[1] series of podcasts, living in Mississauga, Canada. He has written numerous articles and smaller essays which have been published on libertarian websites such as LewRockwell.com, antiwar.com and Strike The Root,^[2][3] recorded over 2000 podcasts, produced over 800 videos, and written several books which are self-published except for his first, which was published by Publish America. In 2006 Molyneux quit his previous job in the field of computer software and works full-time on Freedomain Radio, a philosophical community website which is funded through donations. He self-identifies as a full-time parent and philosopher.

Freedomain Radio[link]

Format[link]

Freedomain Radio is primarily an online podcast, however Molyneux also uses essays, videos, books, articles, interviews, and public speaking to deliver his content. The regular content of the show covers topics such as anarcho-capitalism, ethics, Austrian economics, atheism, religion, education, family, philosophy and politics. Each Sunday Molyneux conducts a call-in show where listeners can talk with him about either a set topic of discussion, or their own. Freedomain Radio also has an online community message board for listeners to discuss Molyneux's content as well as related topics.

Books[link]

Molyneux is the author of several non-fiction books. He has written On Truth: The Tyranny of Illusion, Universally Preferable Behaviour: A Rational Proof of Secular Ethics, Real-Time Relationships: The Logic of Love, Everyday Anarchy, Practical Anarchy, How (Not) To Achieve Freedom, Against the Gods, and most recently The Handbook of Human Ownership: A Manual for New Tax Farmers.^[4][5] Molyneux has also written two fiction books, The God of Atheists and Revolutions.

Interviews[link]

Molyneux has conducted interviews with people such as Max Keiser,^[6][7] Alex Jones,^[8] Peter Schiff,^[9] Jeff Berwick,^[10] Stephan Kinsella,^[11][12] Bill Gairdner,^[13] Mary Ruwart,^[14] Alison Gopnik,^[15] Marc Faber,^[16] David Lindorff,^[17] Dan Carlin,^[18] and several other figures in the fields of education, academia, psychology, politics, and economics.

Public speaking[link]

Molyneux was the closing speaker for the 2009 New Hampshire Liberty Forum on March 8.^[19][20] Molyneux debated with 2004 US Presidential Candidate Michael Badnarik at Drexel University on July 5, 2009.^[21][22] Molyneux was the opening speaker for PorcFest 2010 on June 24,^[23][24] the annual liberty festival organized by the Free State Project. Molyneux spoke at the Students For Liberty Mid-Atlantic Regional Conference hosted at Drexel University on October 9, 2010.^{[25][26][dead link][27]} Molyneux spoke at Libertopia^[28][29] on October 14–15, 2010. Molyneux spoke at the Ontario Libertarian Party Annual Liberty Seminar at Toronto on November 6, 2010.^{[30][31][dead link]} Molyneux was a speaker at the 2010 Freedom Summit in Phoenix, Arizona on December 5.^[32]

Television and Radio[link]

Molyneux is a regular guest commentator on Adam vs The Man, with his first appearance airing on RT America on April 11, 2011.^[33] He has also appeared several times on The Keiser Report,^[34] as well as The Alex Jones Show.^[35] On April 11, 2012, Molyneux guest-hosted the Peter Schiff Show.^[36]

Criticisms[link]

Molyneux and Freedomain Radio received media coverage in 2008 after several newspapers published a story about Freedomain Radio which centered around a member's parents, who claimed that Freedomain Radio is a therapeutic cult, after the 18 year old member left home and severed all contact with his family, an action that Freedomain Radio calls "deFOO" (borrowed from academic psychology, "FOO" is an acronym "Family of Origin"). In response Mr. Molyneux estimated about 20 FDR members had "deFOOed" their families, compared to 50,000 regular listeners.^{[37][38][39][40]}

References[link]

External links[link]

• Freedomain Radio official website
• Stefan Molyneux on MisesWiki
• Stefan Molyneux on Facebook
• Stefan Molyneux on Twitter
• Freedomain Radio channel on YouTube

v t e Anarcho-capitalism Literature Relationship with anarchism Relationship with minarchism Anarcho-capitalist revolution Symbolism Criticisms Features Aggression insurance Crime insurance Dispute resolution organization Free-market roads Jurisdictional arbitrage Non-aggression principle Polycentric law Private defense agency Private Governance Self-ownership Spontaneous order

Jeffrey A. Tucker

Jeffrey Albert Tucker is the executive editor of Laissez Faire Books.^[1] He is past editorial vice president of the Ludwig von Mises Institute and past editor for the institute's website, Mises.org. Tucker is also an adjunct scholar with the Mackinac Center for Public Policy^[2] and an Acton University faculty member.^[3]

Writer and editor[link]

Tucker compiled an annotated bibliography of the works of Henry Hazlitt, entitled Henry Hazlitt: Giant For Liberty, which is now in print. A Foundation for Economic Education review described the book, which "includes citations of a novel, works on literary criticism, treatises on economics and moral philosophy, several edited volumes, some 16 other books and many chapters in books, plus articles, commentaries, and reviews," as "an apt eulogy of Henry Hazlitt."^[4]

As a writer, Tucker has contributed scholarly efforts and humorous essays to LewRockwell.com, Mises.org and elsewhere. Examples of the latter essays include his defense of morning drinking,^[5] his advice on "How to Dress Like a Man",^[6] his attack on shaving cream,^[7] and his admiration for the speedy-service haircut.^[8] He is a critic^[9] of the Grameen Bank which, along with its founder Muhammad Yunus, was awarded the Nobel Peace Prize in 2006.^[10]

Tucker was editor of Mises.org from 1997 until late 2011 when he was hired by Addison Wiggin as executive editor of Laissez Faire Books.^[1]

Catholicism[link]

Tucker is a convert^[11] to Roman Catholicism and is managing editor of Sacred Music. He is one of the leading champions of traditional music in the Catholic Church, and a high-profile member of the "Reform of the Reform" movement.^[12] Tucker recently spoke to the National Catholic Register about the importance of sacred music.^[13]

Books[link]

• Sing Like a Catholic (2009; also as e-book) ISBN 1-60743-722-8
• Bourbon for Breakfast: Living Outside the Statist Quo (2010; also as e-book) ISBN 1-933550-89-9
• It's a Jetsons World: Private Miracles and Public Crimes (2011; also as e-book) ISBN 978-1-61016-194-7

Notes[link]

External links[link]

• Jeffrey Tucker archive at Mises.org
• Jeffrey Tucker archive at LewRockwell.com
• The Chant Cafe
• The New Liturgical Movement Blog
• MusicaSacra.com
• " Victims on Trial: The Everyday Business of Courts ", by Tucker
• "Society in Jail", by Tucker