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Law
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Case Study
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Question: (Real Property) Case Study Law Research Paper

Case Study Instructions:

- Use your OWN words! DO NOT Quote from resources or books or you will get penalized. It has to be your own writing, your analysis, your work, your own words!
- You can use Canlii, or Seneca Library, or Mendeley to look up for sources which could help you answer the questions.
- Follow the formatting guide.
- Please answer the question as completely as possible using essay format and citing all referenced work.
- Please don’t forget to cite all your work or it will be considered plagiarized!
- Read the penalty policy guide attached carefully to avoid any penalties.
I am on a very tight schedule so I will not be able to give much extension.

 

QUESTION: (REAL PROPERTY)
1. Peter Green owned and operated Green’s Hardware and also owned the lands and buildings where the business was carried on.
 
His younger brother, John, worked for him as manager as did his daughter, Susan. Peter died leaving a will in which he gave the business and the real property to John for life, with the remainder to Susan at John’s death. John and Susan could not agree on how to run the business. John wanted to push sales and expansion as quickly as possible. Susan feared that such an expansion would make the business unstable. She preferred to build more slowly, consolidating the gains and the business. The dispute became heated and John fired Susan. Within several years, it happened that the business was in serious financial difficulty. John had allowed several buildings in other parts of the City, including an immediately adjacent warehouse (not shown in the picture but situated at the rear where there had been a large empty lot previously used for parking), to fall into disrepair. Susan sought a court action to force John to keep the buildings in good repair. Should she succeed? Explain your answer in your own words. 
John died and left a will giving his whole estate, including the business and the buildings to his wife. Who is entitled to the business and why? Who is entitled to the lands and buildings and why? Would your answer be different if John (without Susan’s consent) had placed a first and second mortgage against his interest in the property and allowed the first mortgage to go into default but not the second? Why? 
As you can see in the picture, the building has an upper floor. John remodelled the upper floor by dividing it into four, separate, bachelor apartments with access through a main entrance at the rear of the building (not shown in the picture). He rented out all four apartments and his wife collected the rents to pay off the cost of the renovations and to put away whatever was left for the education of their children who planned to attend York University in Toronto. Who is entitled to the rent money saved now that John is dead? Why? Who is entitled to collect the rents going forward and why? Would your answer be different if the property were mortgaged by John and the mortgage was in default at the time of his death? Why?

Case Study Sample Content Preview:

Question: (Real Property)
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Question: (Real Property)
Question 1
In the will of the property, Susan bears a remainder interest, which implies that she would inherit the portion of the value of the real estate after the demise of John. Under the will, remainder parties to a will have a right to voice their concern on the real estate management given that they will eventually inherit the value of the real estate. Susan has a vested interest in the property as a daughter of the deceased and the next-line heir. Through her remainder interest, Susan bears responsibility in ensuring that John does not damage, destroy, and diminish the property's value (Haman, 2020). However, John may initiate a property facelift and rent it out unless the will prohibits such actions.
Since she is the closest dependent of her departed father, the law safeguards the dependent from the step-parent or uncle's impoverishment. Allowing John to run down the estate would amount to letting him walk off with the whole estate and forfeiture of one's inheritance rights. Green owed Susan the normal family obligations in a father's capacity towards his sole child and rightfully appointed her the remainder interest in the property. In summary, John has a vested life interest in the property as the first heir and is under obligation to pass on the estate to Susan in relatively the same or better condition he received the estate. John's interest in the property grants him possession until his death, and this would be described as life tenancy. Upon his death, ownership is transferred to Susan, the final beneficiary appointed in the deceased's will (Haman, 2020). As per the will, Susan has a remainder in the property, the interest in her dead father's property, which will be left after John's interest in the real estate ends. In this regard, she has the most significant part of the property's maintenance and profitable running. The real estate did not pass to John, and he could not operate it as though it was his. Susan can sue for specific performance of the deceased's will since she has the responsibility to protect her rights in the inheritance and preserve similar rights for her heirs. Her remainder interest in the real property grants her the right to sue the life tenant for actions that deface or diminishes the property's value.
Question 2
Susan is entitled to the business, the buildings, and the land. In the will of the late Peter Green, Susan was the bearer of absolute interest in the real estate and would have the right to run it as she desired (Haman, 2020). However, John's life interest in the property means that his freedom of possession lasts during his lifetime and terminates after his death. John's family is entitled to the rent m...
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