Property I Outline

Index

Dividing real and personal property

Creation of personal property:

Ferae naturae — capture of wild animals creates possession

Types of real property

Chattels (tangibles)

Choses in possession (tangibles) v. Choses in action (intangibles)

Tangibles

Land: Idea of scooping up dirt
Chattels: Everything one sees

Intangibles (intangible): Something that is that is representative of value

Check, deposit slip – what the slip represents – a debt that one owes another
E.g. – not the piece of paper, but the exclusivity that it gives
In older societies, land was the most important economic asset

Theories to be used to sustain joint ownership of personal property — (non fits exactly) — often the problem emerges with bank accounts

Gift theory

Need to have present donative intent

In civil law do not look inside a person’s head
Determining donative intent in reality

Look at transactions to tell if they were indicative of giving a fit
Look at state of mind of giver

delivery

Need to have manual transfer of an item from one person to another
Delivery means an intention, and it is an objective manifestation of intention

Acceptance.

No one need have property foisted on them without their consent

These elements need to be present in a donative situation.

All of the objective elements were there, but this wasn’t enough

Class gifts: whenever we have a gift, not to, but to B C and D, we have a gift to a class – whether it b at children, grandchildren, NIECES, nephews, etc.

Contract theory

One could take all under the terms of a contract created

Joint tenancy theory (is some