Term
| Acquiring personal property |
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Definition
Unauthorized taking
Borrow
Find
Benefit from someone's mistaken improvement
Purchase
Receive as a gift |
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Term
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Definition
First occupant
Lost
Mislaid
Abandoned
Treasure Trove |
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Definition
Common thief
Innocent converter
Finder |
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Term
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Definition
Possessor openly and notoriously hold the property
in a hostile manner w/o true owner's permission
for the statutory period of time |
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Definition
transferee paid value
had no notice of the true owner's claim |
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Term
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Definition
a true owner entrusts the good to a bailee
evil bailee is a merchant
who sells goods of the same kind
transferee is a buyer in the ordinary course of business
(in good faith, and observing reasonable commercial standards)
Has no knowledge of the true owner's claim |
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Term
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Definition
| succession to real property |
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Term
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Definition
| Succession to personal property |
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Term
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Definition
Gift of real property
Devisee |
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Definition
Gift of personal property
Bequestee |
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Term
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Definition
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Term
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Definition
| Amendment to an existing will |
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Term
| Requirements of valid will |
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Definition
Legal capacity
Testamentary capacity
Testamentary intent
Formalities |
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Definition
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Term
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Definition
Handwritten
Signed
in TX no witnesses |
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Definition
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Term
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Definition
1066 Norman Conquest
Crown took all the land and granted it to certain people |
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Term
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Definition
| 1290. Established substitution |
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Term
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Definition
knight service
serjeanty
frankalmoin
socage |
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Term
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Definition
| P seeking to recover actual item from D who never had rightful possession |
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Term
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Definition
| P seeks to recover actual item from D who originally had rightful possession |
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Term
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Definition
| P seeks money damages from D who has possession of P's property and then converted it to his own use. |
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Term
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Definition
| Chattel that has been attached to the land so that is regarded as part of the land |
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Term
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Definition
| tangible, physically possessed property |
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Definition
| rights that can't be physically possessed, only enforced by action |
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Term
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Definition
| based in land but treated like choses in action |
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Term
| 3 criteria of an efficient system of property rights |
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Definition
Universality
Exclusivity
Transferability |
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Term
| Theories of private property |
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Definition
Occupation Theory
Natural Rights Theory
Labor Theory
Legal Theory
Social Utility Theory |
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Term
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Definition
Tangible
Value
Transferable
Regulated
Right to destroy
Right to exclude |
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Term
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Definition
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Term
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Definition
| during heir's minority, 21 men/14 women, the lord could use the land when they reached age they had to pay to get use |
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Term
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Definition
| financial support you promised to the lord (e.g. knighting his eldest son and getting his daughter married) |
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Definition
| Die without heirs and the property went back to the lord |
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Term
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Definition
| ceremony where one became the "lord's man" |
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Term
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Definition
| Oath promising loyalty to the lord |
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Term
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Definition
| Promise to do services for the lord then you die and your son takes your place and if he couldn't perform well he had to pay money in addition |
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Term
| Unfree tenures were held by |
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Definition
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Term
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Definition
| 1660. many feudal incidents changed into monetary duties |
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Term
| 1925 property legislation |
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Definition
| all feudal incidents were abolished and turned into property taxes |
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Term
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Definition
| a greater right than possession |
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Definition
| transfer of seisin rights |
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Term
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Definition
| Property rights are entirely an invention of law |
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Definition
| property rights encourage efficient use of resources |
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Term
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Definition
| Government services and benefits are becoming the new property |
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Term
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Definition
| Property rights are exclusive but not absolute |
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Term
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Definition
| individual rights cannot be exercised in a community without public regulation |
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Term
| 2 sides of private property |
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Definition
individual side
social side |
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Term
| 3 part test to determine if a property right exists |
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Definition
1. Must be an interest capable of precise definition
2. Must be capable of exclusive possession or control
3. Putative owner must have established a legitimate claim to exclusivity |
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Term
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Definition
present right to possess
right to possess to death
no conditions on possession
transferable inter vivos
transferable at death |
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Term
| Life tenant rights and duties |
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Definition
keep property in good repair
pay property taxes
pay interest on mortgage
entitled to rents and profits
can't create an interest beyond measuring person's life
reasonable inspection by remainderman or reversioner
can't commit waste |
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Term
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Definition
| deliberate or destructive action |
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Term
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Definition
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Term
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Definition
| you can recover your property even if it has increased in value so long as it hasn't changed in identiy |
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Term
| Manufacturing Rule (exception to tracing) |
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Definition
| property has been changed into something completely different. nauthorized possessor keeps and pays owner for raw materials |
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Term
| Relative values rule (exception to tracing) |
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Definition
| So much value has been added to the property that the unauthorized possessor keeps and pays for raw materials. like the hoops case. |
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Term
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Definition
| Irrevocable. just used to encourage continued dating. |
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Term
| Engagement gifts fault approach |
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Definition
| TX. revocable. the non-breaking party keeps unless there is a legal excuse like already married, lied, or cheated. if death before marriage donee keeps and if mutual break donor keeps |
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Term
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Definition
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Term
| "so long as", "until", "while" |
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Definition
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Term
| "but if", "provided that", "on the condition that if" |
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Definition
| Fee simple subject to a condition subsequent |
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Term
| "then to B and his heirs" |
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Definition
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Term
| "To A and the heirs of his body" or "To A and his issue" |
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Definition
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Term
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Definition
| limited to the heirs of a particular spouse |
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Term
| Statute of De Donis Conditionalibus |
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Definition
| 1285. established fee tail as inheritable only by lineal descendants forever |
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Term
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Definition
future interest is held by someone (3rd party) besides the grantor
must be created in same instrument as the possessory interest
No gaps
No divestments |
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Term
| Destructibility of contingent remainders (common law) |
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Definition
| interest is destroyed if condition not satisfied when original estate ends |
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Term
| Destructibility of contingent remainders (modern) |
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Definition
| Grantor gets interest back as a fee simple subject to executory limitation that will end if condition is satisfied. 3rd party now has executory interest |
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Term
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Definition
| An interest must vest, if at all, not later than 21 years after some life in being at the creation of the interest, plus a period of gestation |
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Term
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Definition
•undivided interests
•Each has right to occupy the premises.
•Each has duty not to interfere with other co-tenants.
•Each has right to partition
▪Agreement
▪Court order |
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Term
| Tenants in common, the basics |
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Definition
Modern law default method.
No unity of time, title, or interest. |
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Term
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Definition
"To A and B as joint tenants" in TX has to be expressly stated "To A and B as joint tenants with rights of survivorship"
TX does not allow extrinsic evidence to make the deed say something it doesn't |
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Term
| Tenants in common, language |
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Definition
| "To A and B" or "To A and B as tenants in common" |
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Term
| Joint tenants, the basics |
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Definition
Common law default method.
Survivorship feature.
Unities required:
1.Time (all take at same time)
2.Title (all take by same deed or will)
3.Interest (all have equal share)
4.Possession (all have right to occupy premises; all have duty not to interfere with other’s occupation)
•If a joint tenant transfers, joint tenancy is severed (becomes tenancy in common).
Can Partition (by agreement or court order). |
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Term
| Tenancy by the Entirety, language |
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Definition
| "To A and B as tenants by the entireties" |
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Term
| Tenancy by the Entirety, the basics |
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Definition
about 12 states do it.
have to be married. |
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Term
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Definition
| Before first child is born the husband has life estate in wife's property for the life of the wife |
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Term
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Definition
•Upon birth of first child and while wife is still alive.
•Husband will have life estate in wife’s property until husband dies.
•Wife has, in effect, a reversion if Husband dies first. |
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Term
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Definition
•Upon wife’s death assuming at least one child was born to the marriage.
•Husband has life estate in wife’s property. |
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Term
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Definition
•Upon husband’s death, wife receives a life estate in 1/3 of husband’s real property he owned anytime during the marriage.
•Wife could waive her dower right. |
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Term
| Modern law regarding spouses |
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Definition
1.Spouse made an heir.
2.Forced share in common law marital property states.
3.Community property in community property marital property states.
4.Homestead |
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Term
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Definition
occupancy right (for home):
TX started this when it was a country.
survivng spouse and minor children can occupy even if someone else owns it. until spouse dies or abandons the homestead.
creditor protection:
homestead can't be taken to pay debts |
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Term
| Common law marital property |
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Definition
spouse are roommates:
each spouse owns what each receives and earns
the forced or elective share:
gives surviving spouse right to take property regardless of what the will said.
varies by state: factors like how many children or longer marriage=bigger share |
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Term
| Community property marital system |
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Definition
Marriage is a partnership:
automatically own half of spouse's earnings |
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Term
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Definition
if property can't be physically parted equally:
person with the bigger share has to pay the one with the smaller share. if they don't have money then it has to be sold and money divided.
In TX cannot divide future interests |
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Term
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Definition
fee title to a designated vertical space in the air.
concurrent ownership of common areas. |
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Term
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Definition
title to a building is held by a corporation.
individual buys stock (personal property) to acquire right to occupy (proprietary lease)
no true concurrent ownership of property. |
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Term
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Definition
| concurrent ownership but with occupancy right divided temporally |
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Term
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Definition
| Cannot inherit from someone you kill (TX does not have but does have an equitable remedy of a constructive trust to prevent an unjust enrichment) |
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Term
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Definition
| In order to avoid endless takings from unauthorized possessors, the first one prevails |
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Term
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Definition
| In order to prevent the current unauthorized possessor from being liable twice, he prevails |
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Term
| Donative Transfer Elements |
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Definition
true owner
transfers property intentionally
gratuitously (without consideration)
to person who then becomes the true owner |
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Term
| Policy behind formalities of gift transfers |
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Definition
protect the donor from himself making impulse gifts
protect against false claims to property
protect from juries deciding true ownership |
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Term
| Inter vivos gifts elements |
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Definition
present donative intent (giving it now not sometime in the future)
delivery
acceptance |
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Term
| Present donative intent elements |
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Definition
has to be voluntary
no consideration or compensation (must be free)
presently effective (not in the future)
irrevocable (can't get it back) |
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Term
| Evidence of present donative intent |
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Definition
delivery is evidence
relationship between donor and donee (does it make sense they would give this gift)
value of the gift (for same reason) |
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Term
| 4 delivery methods (inter vivos) |
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Definition
physical transfer
deliver to 3rd property with instructions to give it to donee
constructive delivery
symbolic delivery |
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Term
| Gifts Causa Mortis elemetns |
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Definition
Made upon contemplation of death.
death has to be likely immiment or impending.
donor can revoke will still alive.
if donor survives:
automatically revoked or
modern approach- don't timely revoke the gift is irrevocable.
revoked if donee dies before donor |
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Term
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Definition
| at death the Crown decided where real property went and Church decided personal property |
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