Property Law Exam Flashcards
Issue Spotting (49 cards)
Capture =
Intent to control + act of control
Capture: Animals
Ferae Naturea: wild animals and noxious beasts. Ownership occurs upon capture
Exceptions to Capture
Ratione Soli & Increase
Oil & Gas
A capture rule similar to animals but accompanied with dozens of regulations
Groundwater
English Rule: first to capture
US Rule:
1. Western States: First to put it into beneficial use
2. Eastern States: Riparian rights
Treasure Trove: Shipwrecks
- Abandoned –> Law of finders
- Not abandoned: Finder gets a percentage
- US gives states ownership and they may establish their own rules
Equitable Division
Popov Case
Rejection of Jus Tertii
Amorie Case of finders
Conquest/Discovery
Johnson v. M’Intosh
Government Grants
- Homestead Act: Land grants west of the MS river
- Northwest Ordinance: Rectangular division of land
2a. Policy arguments in favor of that division - Metes and bounds: idiosyncratic description of property lines
Creation
- Lockean property theory: Property rights are created through a combination of labor and natural resources
- M’Intosh, Chakrabaty, INS
Intellectual Property
- Copyright: artistic and creative expressions
- Patents
- Trademarks
- Trade secrets
IP Policy Debates
Is monopoly necessary for innovation?
Problems associated with monopoly of owners
Adverse Possession
- Actual
- Exclusive
- Open & Nostile
- Continuous
- Hostile
5a. Three states of mind: state of mind not considered (majority rule), Good faith rule, bad faith rule (Maine)
Adverse possessor of a life estate holds the property pur autre vie
Forms of Ownership
- Fee simple: Absolute and defeasible
Defeasible:
1. Determinable
2. Subject to condition subsequent
3. Subject to executory limitation
Fee tail
Life Estate
Numerus Clausus
Waste Doctrine
- Affirmative
- Permissive
- Ameliorative
For concurrent interests, the analogue is partition in kind or by sale
Rule Against Perpetuities
Restraints on Alienation and Marriage
Trusts
Policy Issues raised
Concurrent Ownership
- Tenancy in Common
- Joint Tenancy
- Tenancy in the entirety
Common Interest Communities (CICs)
Tragedy of the Commons
Recordation Statutes