found property
delivery of personal property to another w/o loss of title by the true owner.
must return property in same condition, unless altered by agreement
2 types
bailment
(give the 2 types and list the elements)
gift inter vivos
(what is it & give elements)
gift completed during lifetime w/ no contemplation of death
irrevocable
donative intent, delivery, acceptance
"to A, B, & C"
(elements)
separate but undivided interests
interests are descendible, devisable, and conveyable
*no survivorship rights
requires unity of possession- right to use as a whole, only need it at creation
right to partition and accounting
CL Marital Property state
Community Property state
spouses hold separate property only
spouses hold separate AND community property
SP= property that is not CP; acquired before marriage or during marriage by gift, devise or descent (100% to spouse who owns it)
CP= earnings during marriage & the rents , profits, & fruits of earnings (supposes hold in equal shares) (rebuttable)
*can be transmuted by agreement
"to t for 10 yrs"
lasts for a fixed pd. of time , the beginning and end dates for which can be calculated
no notice required to terminate
property that is involuntarily separated from its owner
lost property
(state rules and exceptions)
gift causa mortis
(what is it & give elements)
gift given in contemplation of impending death
revocable until death
donative intent, delivery, acceptance, fear of impending death or mortal peril, actual death
*if no death, automatic revocation
"to A&B as joint tenants w/ the right of survivorship"
(elements)
separate but undivided interests
right of survivorship- last one alive gets rights to all of the land
4 unities = time (interests rcvd at same time), title (interest r'cvd from same instrument), interest (held in shares in same duration), possession (right to use of the whole)
right of partition & accounting
*no inheritance or devisability , conveyable then goes to tenancy in commons
distribution @ death in CLMP state
CL= separate rules for PP & RP
PP= W takes 1/3 of H's PP if surviving issue , 1/2 if none ; H takes all of W's PP regardless of issue
RP= dower= W gets LE in 1/3 of each parcel in which H was seised during marriage & was inheritable by issue, attaches @ moment of marriage; curtsey= H gets LE in all of W's land , but only if H&W had issue born alive
Modern= elective force shared= supposes can take share (usually 1/2 or 1/3) of all RP & PP that dead spouse owned @ death; spouse doesn't have to take force share, can elect to take through will, if available
"to t for month to month"
last for a fixed pd that repeats until notice of termination is given by the landlord or tenant
notice required to terminate
CL= notice required is equal to length of the pd, but no longer than 6 months . tenancy must terminate at the end of the period. have to pay up until end of pd
statutory= 30 days . tenancy doesn't have terminate at the end of the period. pay is prorated
property that is voluntarily left by its owner but which the owner cannot now find
(no intent to relinquish)
mislaid property
(state rules)
donative intent
(state rules)
donor must intend to transfer ownership of the gift, not just possession
"to A&B as tenants by the entirety"
(elements)
b/w spouses only
right of survivorship
5 unities= time, title, interest, possession, marriage
no right to partition unless w/ an agent
conveyable if done together
distribution @ death in CP states
testate = each spouse has the power to dispose of his/her own share of CP and all of his/her SP by will
intestate= dead spouse's share of CP and SP passes to his/her heirs
*SP can be held as JT , but CP cant
*elective force share not needed in CP states
tenancy at will
tenancy that exists for an unspecified duration, but can be terminated at any time by either LL or tenant
terminable at will by either LL or tenant
-if language says terminable by only one, some courts will imply terminable by both
-if language says terminable only at the will of the tenant , tenant may have LED
terminates at death of either party
attempts to assign terminates the tenancy
if paid rent is required, considered a periodic tenancy
can arise by express agreement or by operation of la
CL says no noticed required to terminate , statutory says notice required (3 to 7 days)
property over which the original owner has relinquished all rights & claims , but title for which has not yet vested in another
abandoned property
(state rules and exceptions)
delivery
(state rules)
actual- physical delivery of the property to the donee, if it can be actually delivered it has to be
constructive- delivery by giving donee something that gives access to the gift , such as a key to a car
symbolic- type of constructive (symbol), generally shown by a written instrument that identifies the donor and donee, indicates the donative intent, and describes the gift
partiton
physical- when property is devoted physically into separate shares
judicial- when property is sold & the proceeds are distributed to the former co-tenants in shares proportionate to their ownership interests ... appropriate when physical attributes of the land make partitioning impracticable or interests of the owners would be better promoted by sale
mixed property
characterizing property made up of CP and SP depends on jurisdiction
-inception of right = character of the property is determined at the time property is acquired; comm its entitled to reimbursement
-time of vesting= character determined at time when title vests; recipient of SP entitled to reimbursement of SP
-pro rata sharing= community payments "buy in" a pro rata share of title
tenancy at sufferance
occurs when a tenant holds over after termination of other leasehold
LL has choice of whether to evict or agree to creation of new tenancy
if eviction tenant must move out
if LL accepts rent, may create new tenancy (tenancy created varies by jurisdiction)
what is treasure trove?
coins or currency that has been hidden in the earth or some other private place for such a length of time that the owners likely unknown/dead
jurisdictions vary on whether finder or landowner takes treasure trove
some states have rejected treasure trove (Texas)
acceptance
(state rules)
donee must accept gift
usually presumed unless expressly rejected, especially where the gift is of value or benefit to the donee
accounting
*mortgage theories
3rd party rent- proportionate share of actual receipts
taxes & mortgages- right to contribution or credit in an accounting or partition
necessary repairs- no right to contribution unless an agreement, but credit in an accounting or partition
improvements- no right to contribution nor credit , but generally awarded to improver in a partition action
*title - traditional view, title passes to the mortgagee, subject to a right of redemption in the mortgager (doesn't break tenancy)
*lien- mortgagee's title is only a security title (break tenancies)
migrating couples
character of property is determined by the spouse's domicile when acquired
once characterized, character property doesn't change unless both parties consent
PP= law of the decedent's domicile at death governs the disposition of PP at death
RP= law where the land is located governs the disposition of RP
RANDOM
(tell us anything you know)
yayy