Property Rights and Estates (Finance Real Estate) Essay

Property Rights and Estates (Finance Real Estate) - Essay Example On the other hand, anything that is not real property is termed personal property that includes everything else. It is made up of two general classes: tangible and intangible. Examples of tangible personal property are cars, household items and furniture, clothing, jewelry, even pets and season baseball tickets. Intangible properties or assets cannot be seen but is represented by paper, such as securities, bank accounts, wages, insurance policies, trade secrets, copyrights, patents, trademarks, and goodwill. Personal property may also be called in modern civil law systems as personal effects, personalty, and chattel. It is also called temporary, moveable property or movables that indicate any property that can be moved from one location to another. Generally, an estate describes the degree, quantity, nature, and extent of the interest that a person has in real property. It is an ownership interest in real estate and denotes the quantity of rights in property. The process by which an individual or family arranges the transfer of assets in anticipation of death is called estate planning. It aims to preserve the amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. There are further divisions within the real property classification. Traditionally, there are two types of estates: freehold and non-freehold. However, concurrent estate is also considered in the real property category. Others are future interests, specialty estates, and incorporeal interests). (Figure 1 shows the outline of the real property classification) FREEHOLD ESTATES are those in which an individual has ownership that continues for an indefinite period of time or until the occurrence of some event. An individual who is in possession of a freehold estate has seisin, which means the right to immediate possession of the

Impact of sea ice loss on Arctic ecosystem(Indigenous people, marine Essay

Impact of sea ice loss on Arctic ecosystem(Indigenous people, marine birds) - Essay Example This paper explains the effects that will cause problems and obstacles for the indigenous people living in these areas along with them the wildlife ecosystems such as the marine birds. This paper will also look into the possible environment that the Arctic community will eventually live through. The Impact of the Warming Arctic The change in the climate and the effects it has caused in the Arctic region may possibly be one of, if not the most critical ecological concern threatening and endangering the Arctic ecosystem.  This region, the northernmost part of the Earth, is home to various native communities whose way of life and daily activities is shaped, influenced and based on the environment and the surroundings. This area is also home to the abundant wildlife that thrives there. The Arctic region is naturally and ethnically very special and delicate. However, their sensitivity can be a problem. Because a slight change in the overall climate and weather in this zone, even as litt le as half a degree, the gradual global warming could risk the life of an entire society and culture. The rapid rise in the temperature is currently becoming more and more evident, resulting in the intensification of the loss of sea ice in the Arctic ecosystem. Now, it is a fact that the Arctic inhabitants were challenged in the past as they needed to adapt to the extreme cold and freezing weather with sub-zero temperatures. In time, they were able to adjust and for a time, were thriving in this Arctic community. However, the recent gradual changes in the climate could mean that the wildlife biodiversity and the communities who are living in this area will have to be faced with new obstacles and challenges. The several groups of indigenous people such as the Inuit are currently dealing with a number of problems and difficulties in their everyday lives. The drastic negative effects are now becoming a serious issue and concern for these people, as they fear that soon, if no proper cou rse of action will be taken, then their entire society and the whole entire community will no longer thrive and exist and will be gone forever. During the last decade, the people in the region have noticed different environmental changes. One of these is the loss of a great amount of ice sheets and when ice melts, what remains is the dry harsh desert. Another environmental problem is the thinning of the ice, which has resulted to difficulty in traveling and stranded hunters. Arctic hunters are having a harder time building igloos, which are impermanent or emergency shelters due to the change in the snow conditions. They are also starting to be more careful when chasing and going for animals. These animals have also changed. Caribou and other animals have decreased greatly in population. They also appear to be unhealthier, looking much skinnier than they used to. In addition, because of the increasing temperatures and the fact that Arctic people are not used to this as they are accus tomed to the cold, reports of sunburns and rashes have increased. The melting permafrost, or the permanently frozen land, has damaged and destroyed a couple of houses and roads, and have also caused erosion, unsteadiness and landslides. Moreover, since rain is less occurring, water from a few rivers and ponds are not anymore