subject: A Brief History of Real Estate: The Fee Simple Ownership [print this page] A Brief History of Real Estate: The Fee Simple Ownership
Arthur Wellesley (1769-1852), Duke of Wellington, is reputed to have been the one to exclaim 'All sensible things return from England, but cavalry is not one amongst them' whereas facing Napoleon's French Army at Waterloo on June eighteen, 1815. Wellesley had learnt his military trade in India applying his study of the art of war and had became a master of the reverse-slope tactic - keeping his forces screened from artillery hearth behind the brow of a hill. At Waterloo, but, Wellesley's Armies were outwitted by Napoleon. The French Emperor had imitated Wellesley's techniques by positioning 200 significant artillery guns behind a ridge at La Haye Sainte. When the Hussars and Dragoons cavalrymen led by Lord Uxbridge attacked within the famous Charge of the Scots Greys, Napoleon commanded the guns on the topline of the ridge and one among the epic artillery bombardments in history began. It had been at this terribly moment, at the height of the Charge and whereas his three,000 cavalrymen were being slaughtered by the fast artillery fire of Napoleon's significant guns, that the phlegmatic English General is reputed to have exclaimed his now famous remark, directed at Lord Uxbridge who had apparently ordered the Charge while not Wellesley knowing it. The day was saved by Gebhard von Blucher (1742-1819), Field Marshal of Prussia, who led the assault of the Kaiser's Prussian Cavalry against the French right wing, so inflicting the whole French line to collapse.
Wellesley's famous remark has been retouched several times throughout the years, depending on one's point of view. The British dropped the second part - the reference to the sick-fated cavalry charge - so creating the popular short version 'All good things come from England' - period. When concerning a century later Britain had the unwise plan of attacking the Ottoman Empire and therefore the British and French Armies were fighting the Turks facet-by-facet in WWI, General Mustapha Kemal - the English-speaking Commander of the Turkish Garrison and victorious defender of Gallipoli - paraphrased the English dictum when 289 days of siege by turning it, somewhat deprecatingly, into: "No smart things ever return from England". And Mahatma Gandhi throughout his teachings of non-violent conflicts resolutions makes reference to the very fact that "All good things come from India".
Alas, no matter what your purpose of read is, I shall labor under readers of my Blog that "a minimum of two good things comes from England" : Fee Easy Ownership and Organized Real Estate.
English real estate law (or 'Estate Law' as it absolutely was known in the past) was imported, through colonization, into the sooner kinds of law in the U.S.A., Canada, Australia and New Zealand. Several of these states, or their territories, have since modified this historical law, to varying degrees. A study of the recent feudal land system of England provides us with a useful glimpse of legal history regulating the foremost valuable asset of all: land. In medieval times, land was the only form of wealth and it depended primarily on possession. You had it, you owned it. You wished it, you fought for it. You found it, you kept it. There have been no courts or police force prepared to acknowledge or enforce "legal rights" as we apprehend them today. All this changed with the Norman conquest of England in 1066. William decreed that he owned all of the land in England by right of conquest. Not one acre of England was to be exempted from this large expropriation. This sudden vacuum of privately-held land was promptly filled by a selection of big land grants given by the new King to either his Norman officers or to those of the English who were ready to acknowledge him as king. The device utilized by the King to regulate and administer his land was that of tenure. Tenure was the key component of the feudal system. The King struck a bargain with a Lord for a large chunk of land. The Lords that held their tenure directly from the King were called Tenants-in-chief. It absolutely was this cluster of persons who shaped the idea of English aristocracy and commenced, by the process of subletting the King's land, the implementation of the feudal system.
Tenures were of a variety of period called "estates" and the Fee Straightforward Estate was the foremost extensive and allowed the Tenant to sell or to convey by can or be transferred to the Tenant's heir if he died. In trendy law, nearly all land is held in fee straightforward and this is often as shut joined can get to absolute ownership in common law. It had been during this context that the British began their dominion over the seas and their explorations which led to the fashionable nations of Australia, Canada, New Zealand and also the United States of America. The concept of developing an informal association of local realty agents originated within the United States within the 1880s, and by the turn of the century about 15 Real Estate Boards had been established. The National Association of REALTORS? (NAR) was formed in the U.S. in 1908 with nineteen boards and one state association. Organized assets in Canada is almost as recent as the country itself. The terribly first Real Estate Board was founded in 1888 within the growing community of Vancouver. Back then, a commercial ton on Hornby Street close to the Hotel Vancouver sold for $600. The Vancouver Board - as it was known then - was active until the beginning of the 1st World War, when operations were suspended. It resumed in 1919, and has been operating ever since.
The distinction of the oldest, continuous running Board belongs to Winnipeg, Manitoba. It started in 1903, and also the Winnipeg Real Estate Board was the primary in Canada to celebrate its one hundredth anniversary. The Toronto Board was incorporated in 1920, followed by boards in Ottawa, Hamilton, Regina and Victoria in 1921. A lot of than [*fr1] of the prevailing Real Estate Boards in Canada were created once 1955, in part as a result of of the evolution of the "Photo Co-Op System" that was introduced in 1951. That was the forerunner of today's MLS?, introduced in 1962. The Co-op System not solely created a need for an organization to determine rules and promote co-operation among agents, but additionally to supply funds to control a real estate board. That is when technology first modified the important estate industry.
