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Property II
Villanova University School of Law
Aagaard, Todd S.

 
TABLE OF CONTENTS
 
Chapter 5 – Forms of Ownership………………………………………………………1
            Introduction………………………………………………………………………1
            Divisions by Time……………………………………………………………….
            Maintaining The System………………………………………………………..
            Mediating Conflicts Over Time………………………………………………
            Co-Ownership and Mediating Conflicts Between Co-Owners…………….
            More on Marital Interests……………………………………………………..
Chapter 6 – Entity Property…………………………………………………………..
            Possessory Rights……………………………………………………………
            Nonpossessory Interests……………………………………………………..
Chapter 8 – Title Records and Transfer of Property………………………………
            Nemo Dat……………………………………………………………………..
            The Good Faith Purchaser…………………………………………………..
            Proving Ownership……………………………………………………………
            Recording Acts………………………………………………………………..
            The Limits of Title Searches…………………………………………………
Chapter 9 – The Law of Neighbors………………………………………………….
            Nuisance……………………………………………………………………….
            Servitudes……………………………………………………………………..
            Zoning and Other Land-Use Regulation……………………………………
Chapter 12 – Takings………………………….……………………………………..
            Eminent Domain……………………………………………………………….
            Regulatory Takings – The Basic Contours…………………………………
            Regulatory Takings – Extensions and Applications………………………
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
I.              ***Chapter 5 – Forms of Ownership***
a.    Introduction-
b.    Divisions by Time-
                                          i.    Estates in Land-
                                        ii.    Present Possessory Interests-
1.    Fee Simple (Absolute)
a.    General Rules
                                                                                          i.    They run forever and must be fully alienable (there are no restraints on transfer of ownership)
                                                                                        ii.    Any restraints on alienability are void.
                                                                                       iii.    Conditions can be put on fees simple absolute.
                                                                                       iv.    Rights of First Refusal can be put on fees simple absolute.
                                                                                        v.    Only time a FS can end is if the owner dies intestate without heirs and the property escheats to the state.
b.    Creation of fees simple absolute
                                                                                          i.    Common Law – “to A and her heirs”
1.    “to A”: words of purchase
2.    “and his heirs”: words of limitations
                                                                                        ii.    Statutory – A fee simple absolute is presumed by the court unless the language of the transfer shows an intent to creat

possible fact situation – “to A and B after the death of C” (here C has an implied life estate).
e.    Express Grant
                                                                                          i.    Usual language – “to A for A’s life”
                                                                                        ii.    Can be “to A for the life of B” or “life of autre vie”
1.    If A dies and B is alive, statutory language says the life estate carries on to A’s estate until B dies.
                                                                                       iii.    Can be “to A for life,” and A sells to B.
1.    B holds life estate measured by A’s life.
2.    If B dies and A is alive, then the life estate passes to B’s estate until A dies.
f.     Restraints on Alienation-Courts dislike restraints because they limit the ability of the grantee to transfer his interest. Restatement: Provides that an absolute restraint on a FS is void. Partial restraints are valid if they are reasonable in purpose, effect and duration. Must look at marketability of property. If the property is not marketable, then it is an unreasonable restraint on alienation, and is invalid.