Property I Outline

BASICS OF PROPERTY LAW
 
Property law tries to make clear laws so we can determine what the outcome will be.
·        This is done by using simple rules, so that:
o       There are no disputes, that way
§        Litigation costs are minimized
§        Court time taken up is minimized.
 
Goals of Property Law:
Economic Efficiency
Predictable – predictability promotes efficient use of courts and litigation
While being flexible, must have limitations in order to maintain predictability – must categorize interests (property motel)
Fairness
Flexibility – Laws must be flexible in order to be fair to everyone
Potential property owners need and want choices
 
Function of the law is to keep people satisfied
If people are satisfied, they will follow the law, if not, they will go against it
 
The law has to operate fairly and be acceptable
 
Unlike contract law, property law can’t just rely on the contract, have to look at intent
 
How do assure people will abide by the law?
Tradition – this is so because society accepts it
 
You can’t abandon real estate, someone always has to own it.
You can abandon personal property.
 
Property Law looks to the future in determining how decision will affect how people handle their property down the road.
 
POSSESSING AND OWNING ASSETS
 
RIGHTS AND DUTIES OF POSSESSORS:
 
True Owner à Possessor à Possessor 2 à Possessor 3
True owner can recover from any one of the following possessors of his choosing. However, each following possessor can only recover from the following possessor (i.e. P2 can only recover from P3).
 
The rights of the possessor of property are superior to all but the true owner, even if property was wrongfully obtained.
Gissel v. State (Idaho)
Defendant harvested rice from state and federal land