Property I Outline

 
Medill
Property Outline
Fall 2014
 
Helpful Concepts:
 
Found Property
·         Unowned: goes to First Possessor
·         Abandoned: goes to First Possessor
·         Imbedded: goes to Landowner (Goddard v. Winchell – meteorite)
·         Lost: goes to the Finder (Armory v. Delamarie – jewel in chimney)
·         Mislaid: goes to Landowner (McAvoy v. Medina – Wallet in barbershop)
·         Treasure Trove: goes to Finder (Schley v. Couch – if not recognized, mislaid) 
Place Found
·         Private Land: goes to Landowner
·         Land Open to Public: goes to Finder (Bridges v. Hawkesworth)
Finder
·         Employee of Landowner: goes to Landowner
·         Trespasser: goes to Landowner
Other Considerations
·         D deservingness on the part of one of the parties (Hannah v. Peel — brooch)
Actual Possession vs. Constructive Possession
·         Actual Possession: 1) exercising dominion and control w/ 2) intent to possess
o   Eads v. Brazelton – shipwreck, marking area not enough
o   Pearson v. Post – chasing fox, pursuit not sufficient for possession
o   Liesner – wounded wolf, wound is exercise of dominion and control
o   Keeble – scared ducks, competition ok, malicious interference not allowed
·         Constructive Possession: landowner has possession over all things on his land and in it
o   Sharmin – cleaners found ring in lake, on private land workers only there to work
o   Hannah v. Peel – Brooch, given to finder because owner never in house and he was honest
Gifts
·         Gift Inter Vivos: made during lifetime of the giver
o   Intent – Delivery – Acceptance
·         Delivery: typically must be physical delivery, can be constructive
o   Kohn: shares for b-day, didn’t need physical delivery because he couldn’t
o   Gruen: future interest in painting to son, gift of future right so delivery unnecessary
o   Foster v. Reiss: wife left note giving to husband, not sufficient for delivery
o   Wagner v. Scherer: suicide, gift causa mortis and valid because he would have stopped her
·         Constructive Delivery: representation of the actual gift because can’t give actual (ipod on x-mas)
·         Engagement Rings: unconditional gift – no return – conditional gift – three approaches
o   No Fault: must be returned no matter what
o   Modified Fault: must return unless he called off the wedding
o   Strict Fault: depends who’s at fault for the break-up
Estates in Real Property
Freehold Estates
·         Fee Simple Absolute: “To A and his heirs” (don’t need “and his heirs” anymore)
·         Fee Simple Determinable: “so long as” / “until” / “while” (automatically reverts)
·         Fee Simple Subject to Condition Subsequent: “but if X event ever happens” “upon condition that if”
o   (right to re-enter and retake)
·         Fee Simple Subject to Executory Limitation: “but if . . . then to…”
o   Fee Simple Conditional: predecessor to Fee Tail – “Fee simple conditional upon having issue”
§  Statute de Donis Conditionalibus – could covey under FSC, didn’t like, abolished FSC
o   Fee Tail: “To A and the heirs of his body” – not allowed anymore
Life Estates
·         Life Estate: “To A for life”
·         Life Estate pur autre vie: measured by the life of another – “To A for the life of B”
·         Life Estate Determinable: life estate subject to being cut short
o   Waste: 3 rules – any alterations / increase value o.k. / intent of grantor to see if reasonable
Future Interests
·         Reversion: interest retained by the grantor – O conveys away less than he has – automatic reversion
·         Right of Re-Entry: retained by the grantor – not an automatic reversion
·         Possibility of Reverter: retained by grantor – ONLY follows Fee Simple Determinable
·         Remainder: created in someone other than grantor – takes at natural end of preceding estate
·         Indefeasibly Vested Rem.: ascertained person, no strings attached
·         Vested Rem. Subject to Open: ascertained class but could increase in number
·         Vested Rem. Subject to Total Divestment: may be divested before remainder take
·         Contingent Remainder: unascertained person or unfulfilled pre-requisite (O has Reversion)
o   Doctrine of Destructibility of Contingent Remainders: If a contingent remainder has not vested before the end of the preceding estate, it was destroyed (abolished in NE)
o   Doctrine of Merger: two successive, vested estates merge into the larger of the two
o   Rule in Shelley’s Case: life estate w/ remainder to grantee’s heirs, grantee has both
o   Doctrine of Worthier Title: life estate w/ rem. to O’s heirs = O retains remainder
·         Executory Interest: interest in someone other than O which takes on occurrence of stated event
o   Springing: future interest that divests the grantor of his estate
o   Shifting: future interest that divests the of the grantee
Rule Against Perpetuities
·         A contingent remainder is void unless it is certain to vest within the lives in being plus 21 years
                                                        Determine which future interests have been created by the conveyance.
                                                        Identify the conditions precedent to the vesting of that suspect future interest.
                                                        Find a measuring life. (person alive when conveyed – is their life relevant to the condition)
                                                        Will you know within 21 days of the death of the measuring life if the future interest holder can or cannot take?
Chapter 2: Personal Property
·         Types of Property
o   Real- land, structures on land
o   Personal
§  Tangible (car, chair, jewelry)
§  Intangible (stocks, bonds, cash- value is not in the paper on which the stock i