Question 2.1

Midas owns a property in regional Western Australia and is thrilled to have discovered generous veins of gold and copper in the soil. Do these minerals belong to Midas? Is he free to exploit them as he chooses?

Why or why not?

Question 2.2

What is a fee simple estate?

Question 2.3

Ophelia has recently started a new business and intends to use the house she has received from her grandfather as security for a loan to inject capital into her business. She seeks your advice. Will she be successful in her loan application? Give reasons for your answer.

Question 2.4

List four advantages of the Torrens System of Land Title. What are the commercial benefits of this system?

Question 2.5

Errol and Flynn are beneficiaries of a trust created by their mother's will. Victor is the trustee of the trust. The majority of the trust property is land. Both Errol and Flynn are concerned about Victor's recent behaviour as trustee and are unsure if he is acting in their best interests. What could they do to protect their interest in the trust property? Why?

Question 2.6

Jesse owns a mixed business commercial property next door to Benji's Pizzeria. As an advertising promotion, Benji has fixed a 60m inflatable pizza on a line at the end of a 90m pole which blows in the wind, both over Benji's Pizzeria and over the car park of Jesse's property. Jesse wants this intrusion stopped. Advise Jesse.

Question 2.7

Using examples, define achose in possession.