Property Flashcards
(28 cards)
Theories of Property
First in Time
Labor theory
Economic Theory
Maximize happiness- Utilitarian
Facilitate Personal Development (object of personhood)
Theories
First in time
Who gets there first claims it
theories
Labor
Only if you comine a thing with labor does it gain interest
Theories
Economic Theory
wealth measure in dollars
Theories
Maximize Happiness- Utilitarian
All valuable, scarce resources must be owned by someone
Efficient use of resources, max benefit
Theories
Facilitate personal development
object of personhood
landlord v. tenent argument better to allow someone to use it then to throw them out or leave the object abandoned
Bundle of sticks
Right to transfer
right to exclude
right to use
right to destroy
alienability
right to transfer
Any owner may freely transfer or alienate any of her property to anyone
Limited for public policy reasons
Some property can be given away or donated but not sold
right to exclude
Owners have the right to exclude others from their property
Trespass laws
* Defense
* * Consent
* * Necessity
exclusivity- if cant exclude then owner has no incentice to improve property
general
right to use
Right to use is not absolute; certain conduct can constitute as a nuisance
Ex. Spite Fences
Intent matters-if your sole purpose of using your property in a certain way is to annoy or anger others, the court will limit your right to use property in that manner
right to use
Subsurface rights
Generally: Land owner does not have an indefinite right to the subsurface of their property
* Only those which are reasonable and foreseeable
right to use
Water rights
Groundwater claim using reasonable use approach
Purpose of use
Suitability of use to the location
Extent and amount of harm
Benefits of use
Necessity of amount and manner of use
Any other factor that may bear on the reasonableness of the use
right to use
Air rights
GENERALLY: the owner of the land has rights to the airspace above it, but only to the extent necessary for reasonable use and enjoyment
right to destroy
limited right
Public policy arguments often exist (and win) in Property
* ex. If destroying a home is so senseless and such a waste of resources, the court will not uphold an individual’s right to destroy
acquisition by:
Capture/occupancy
Rule: entails someone exercising dominion or control over property by physically taking it
Typically applies to property that is not already owned, if property is owned it cannot be obtained by capture
modern rule: if the court does not know the right answer it will do what is most equitable
Discovery
Adverse Possession
Hostile - owner does not permit the use of land
(some states req bad faith (minority))
Hostility can be implied
Actual - actually entered the land and use in a reasonable way
Meaning exerting dominion or control satisfies this element
Continuous - consistently used relative to the type of property it is
(i.e. a beach house)
Open - visible and obvious to others(give the owner a chance to see u)
Notorious - same thing as above essentially
Exclusive - all relative, can use with others (just not the owner)
Statutory time - Must be used for a statute listed amount of time
tacking
An adverse possessor can combine their period of possession with a prior adverse possessor to establish a continuous possession for the statutory period required to claim title
There must be privity between the past and current possessors
Lost
True owner unintentionally and involuntarily parts with property,
* “oops I dropped it I had no clue”
* Who keeps its? Finder
Abandoned
True owner knowingly relinquishes property
* Like saying goodbye to it
* Who keeps its? Finder
Mislaid
The true owner intentionally and voluntarily placed property somewhere but unintentionally forgets it
* I forget my purse somewhere
* Who keeps its? “locus in quo” - landowner of where item was found
Treasure trove
True owner hid the property a long time ago
* item is money, gold, silver, coin, etc.
* Who keeps its? “locus in quo” - landowner of where item was found
gift
Inter vivos
Gift from living person to another living person
Elements
* Donative intent
* Acceptance
* Delivery
Physical/manual
Constructive: allowed if manual is impractical
Symbolic: allowed if manual is impractical
Cannot revoke a gift once delivered
gift
Causa Mortis
Gift of personal property given by a person in anticipation of death
Elements
* Donative intent
* Acceptance
* Delivery
* * Physical
* * Constructive
* * Symbolitic
* Imminent death
Revocable, at any time
present estate
Fee simple absolute
- Indefeasible- no conditions. rights are guaranteed and cannot be taken away
- Duration: unlimited
- Transferable: freely transferable, descendible, and devisable
- Words of limitation: to __ and their heirs, to __ forever, to __ in fee simple
