Thread: Mortgage
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Old 10-04-2024, 06:23 PM   #5
fatgas
Purveyor of fine filth
 
Join Date: Feb 2024
Posts: 316
Default Re: Mortgage

Quote:
Originally Posted by Itsme View Post
Possession & owning is the same meaning.
Title says you own the land.

Cheers
Nope, in Australia all land is vested in the Crown. That means the Crown owns it all, the best we can get is the estate in fee simple system of "owenership". It basically means you have exclusive use of the land but that's it. The title that one possesses is basically a statement to that fact, along the lines of "The Crown grants (insert name here) exclusive use of the land".

Absolute ownership of land by individuals would mean none of the conditions imposed on "ownership" of that land could be legally applied and enforced; councils couldn't levy rates or demand building/planning permits, governments couldn't do compulsory acquisition.
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