Finders
What are the different categories?
What is lost, mislaid, abandoned, treasure trove, and embedded?
What are the categories of estates?
What is fee simple, life estate, term of years, and fee tail?
Elements of Adverse Possession
What is Open, Continuous, Exclusive, Adverse, and Notorious?
What are the future interests for grantors?
What is Reversion, Possibility of Reverter, and Right of Entry?
Elements of a gift
What is intent, delivery, and acceptance?
An antique pocket watch is on a bench in a public park. A finder picks it up. The owner returns with proof of purchase and demands it back. Who has superior title?
What is the owner?
To A and A's heirs. What kind of estate?
What is fee simple?
O is the owner in 2005, and A enters adversely on May 1, 2005. The age of majority is 18. O is 3 years old in 2005. The statute of limitations period is 5 years. When can the adverse possessor A acquire title?
What is 2025?
What are the future interests for grantees/third parties?
What is Vested Remainder, Contingent Remainder, and Executory Interest?
B gifted A a new refrigerator via a written note. A accepts. Is this a valid gift and why?
What is yes, because symbolic delivery works for large items?
A tourist scouring a beach with a small rake and pail, looking for shells and stones, uncovered an elaborate diamond ring. The beach where the tourist found the ring was in front of a luxury seaside resort that had placed high-quality lounge chairs and other luxury amenities on the beach for its wealthy guests. The tourist was lawfully on the beach but staying at a cheap campground just down the beach that gave the tourist beach access, not staying at the seaside resort. The tourist had a job as a groundskeeper with a municipality in another state. Which party has superior title to the ring?
What is the tourist finder?
To A for 20 years. What kind of estate?
What is term of years?
O is the owner in 2005, and A enters adversely on May 1, 2005. The age of majority is 18. O is insane in 2005. O dies insane and intestate in 2018. The statute of limitations is 5 years. If O’s heir, H, is six years old in 2018, when would the adverse possessor A acquire title?
What is 2023?
O conveys Blackacre “to A and her heirs so long as Blackacre is used for residential purposes only.” Some years later, A begins construction of a factory on Blackacre. What is the future interest?
What is a possibility of reverter?
B gifts A a new watch because he is going to die. B dies. Is this valid and why?
Yes, all the elements are met.
A salesman goes to a factory to sell products and tour the factory. He goes to the bathroom and finds an expensive pair of sunglasses on the restroom vanity. He gives them to the receptionist to hold onto until he finishes the tour. At the end, he asks and is refused the sunglasses. The factory reasonably investigated and could not find the owner. Who has superior title to the sunglasses?
What is the factory if the facts establish the sunglasses were mislaid?
To A for the life of B. What kind of estate?
What is life estate pur autre vie?
Owen owns a vacant lot. Without permission from Owen, Alice camps on the vacant lot. She builds a house on the vacant lot and fence around its border. She lives in and maintains the parcel for 20 years. Then she brings an action against Owen to quiet title to the land. In this jurisdiction, the statute of limitations period is 15 years. Who wins?
What is Alice?
O to A for life, then to B. What is the future interest?
What is B has a vested remainder?
B gifts A some land via a birthday card. Is this valid and why?
What is no because land requires a written deed?
A company received boxes of new computers. An janitor went to the dumpsters to take out trash and noticed one of the boxes had a new computer still. He kept it for himself because no one claimed it. The company learned of the janitors find and demanded it back. Who has superior title?
What is the company?
To A for the duration of the presidency's current term. What estate?
What is term of years?
Owen owns a vacant lot. Lisa does not own the lot. Nonetheless, Lisa sells Alice the “deed” to the vacant lot. Alice then builds a house on the lot and fence around its border. She lives in and maintains the parcel for ten years. Then she brings an action against Owen to quiet title to the land. In this jurisdiction, the statute of limitations period is 15 years without color of title, and 5 years with color of title. Who wins?
What is Alice?
O to A for life, then to B for life. What are the future intersts? (2)
B says he will gift A a watch when he dies. B dies a year later. Is this valid and why?
No, because the intent to gift was in the future.