The Key Property Sticks & Pre Personal Properties Securities Act (PPSA) - Law Assignment Help

Assignment Task -                 
 

Initiation

1. What are the key property ‘sticks’ in the fee simple bundle? What ‘stick’ right is arguably the paramount right of the fee simple estate holder? Discuss with reference to the readings in topics 1 and 2.

2. What is a ‘unit entitlement’ in strata title law? How critical is this concept to the administration of a strata title system? Discuss with reference to legislation.

3. A major problem with the pre-Personal Properties Securities Act (PPSA) law was that it generally had regard to the legal form of the transaction to determine its consequences, rather than it’s underlying economic purpose and effect. However, a major innovation in the PPSA is that it has abolished the pre-existing distinctions based on form, in favour of a substantive, functional or substance approach to what constitutes a ‘security interest’ in personal property. Discuss your understanding of these twin features of the PPSA, namely the definition and scope of what is a ‘security interest’ under the PPSA, and what is meant by the Act’s ‘functional approach’? 

4. Identify modern forms of common property in land? What are the distinguishing features of common property in land, and how does this property type differ from public property ‘rights’ in land?

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