Property I Outline

PROPERTY 1
ATTACK OUTLINE
Professor Kane
Trinity 2006

DISCOVERY OF PROPERTY
Rule: First in time, first in right
Title by labor theory

CAPTURE
Wild animals captured belong to captor
Must deprive animal of its natural liberty
A competitor can interfere with a capture
Captured wild animals that leave owner yet comes back, or is not native to the area, belongs to original capturer (otherwise, it is fair game)
Animals on land are landowner’s property until they leave (same with oil, gas, and water)

CREATION
If you create something, you own it
However, people have a right to copy it

FIND
Finder has rights superior to everyone but the true owner (true owner {prevails over}→Possessor {finder or even a thief} {prevails over}→Subsequent Possessor)
Objects found under land or soil, by employee, by trespasser, in a private home (that has been occupied by owner), are awarded to the owner of the property
Lost property goes to finder
Mislaid property goes to owner of where it was found
Abandoned property goes to finder

ADVERSE POSSESSION
Actual, exclusive, continuous (no unordinary interruptions, and tacking in privity is allowed), hostile (objective test: don’t have to claim title over owner, subjective test: must claim title over owner), open and notorious
Adverse possessor must pay taxes in some jurisdictions
If disability exists before ad poss begins, add on an additional ten years to sol from when disability stops
Color of title is a claim relying on a defective will or deed (can satisfy ad poss for entire property)

CHATTELS
Can claim ad poss with chattels
NY rule: sol begins to run when owner finds thief and makes a demand for return
Due Diligence rule: majority say sol does not begin to run if owner uses due diligence in looking (begins when owner finds property, and ad poss runs from time stolen if due diligence by owner is not used)
A Seller can transfer no better title than hat he has unless bona fide purchaser w/o knowledge of wrongful title (not protected against true owner unless sol has run out)

Void title is when owner does not intend to pass title or has no capacity to do so (i.e. thief)
Voidable title is where owner intends to pass title, but can void the transaction b/c of fraud, etc.

REMEDIES OF A POSSESSOR
Trover was a suit to recover value of P’s chattel D converted (P entitled to full value, but not chattel)
Replevin is to recover actual possession
Defense, jus tertii, that a third party is the owner and the only true owner can bring law suit (not available in replevin)

BAILMENTS
Bailor is true owner and bailee is one in possession
Bailee has a duty to care for goods and deliver as agreed

GIFTS
The donor must intend to make a gift, must deliver the gift, and there must be acceptance by the donee
Inter Vivos gift: made during donors life w/o oncoming death (irrevocable)
Causa Mortis gift: made in contemplation of death (automatic revocation if no death happens)
Requirements of a gift:
Intent to pass present title (not merely present possession)
Delivery: actual (directly handing over), constructive (manual delivery impracticable, so hand over key to 600lbs. bureau), symbolic (manual delivery impracticable like deed to land)
NOTE: Third party acting as an agent to donor can give gift, but not effective until agent delivers to donee/ Third party acting as agent for donee can make gift, and gift effective upon delivery to donee’s agent
Acceptance by donee: presumed when gift beneficial to donee
Gift takes effect immediately upon delivery (see above)
NOTE: No gift is made when donor retains power to revoke

ESTATES IN LAND
Freehold Estates
Fee simple: absolute ownership
Inherited by heirs (blood relatives and spouses), issues (direct lineal descendants), escheat (goes to state when no heirs), collaterals (all other relatives minus descendants and ancestors), ancestors
Fee tail: keeps land in the family (O to A and the heirs of her body; replaces by life estate)
Life Estate: can use during lifetime
O to A for life
If A the conveys his life estate to B, B will have a life estate pur autre vie
If B dies before A, B’s heirs get the interest until A’s death
If A dies before B, the interest reverts back to O
For as long as A’s interest, he cannot waste: affirmative (arises from voluntary acts), permissive (arises from a failure to act)
Life Estate pur autre vie: O to A for B’s life
Fee Simple Determinable: fee simple that is conveyed with a condition that if the event occurs, the estate automatically reverts to grantor (possibility of reverter)
O to A as long as the property is used for school purposes (as long as, during, until)
Fee Simple Subject to Condition Subsequent
Fee simple that may be cut short or divested (no auto termination) at grantor’s desire when a condition occurs; must go to court to get back
O to A, but if A serves alcohol on property, I can reenter and take the property (but if, provided that)
Fee Simple Subject to Executory Limitation
Fee simple conveyed w/ a condition that if the event occurs, estate goes to third party
O to A, but if A dies w/o children, then to B

LEASEHOLD ESTATE (Property 2)
Nonfreehold possessory estate
Basically a lease

FUTURE INTERESTS
Retained by Grantor:
Reversion: When a grantor conveys a lesser estate than what he has, a reversion is created
O to A for life (goes back to O after)
Possibility of reverter: comes with a fee simple determinable
Right of entry