THEORIES & CORE RIGHTS
This theory justifies giving property rights to the first person who takes possession.
What is first possession?
This is considered the most fundamental property right.
What is the right to exclude?
Property unintentionally lost by the owner.
What is lost property?
Physical use of land like a reasonable owner.
What is actual possession?
Default estate with full ownership.
What is fee simple absolute?
This theory says people gain property rights by working on or improving something.
What is labor theory?
This type of property (open to the public) makes it harder for owners to exclude people.
What is commercial property open to the public?
Property intentionally placed but forgotten.
What is mislaid property?
Possession must be visible and obvious.
What is open and notorious?
Estate that automatically ends upon an event.
What is fee simple determinable?
This theory says property rules should benefit the most people overall.
What is maximizing societal happiness (utilitarianism)?
Owners generally can exclude anyone unless the reason falls into this category.
What is a prohibited reason (e.g., discrimination)?
Property intentionally relinquished.
What is abandoned property?
Possession cannot be shared with the public or owner.
What is exclusive?
Estate where if event occurs, grantor can terminate the estate (O to A, provided that it is used for X) limitation
What is fee simple subject to condition subsequent?
This theory connects property ownership to independence and participation in society.
What is ensuring democracy?
Property rights are limited when exercising them would harm these broader concerns.
What are human values / public policy concerns?
Finder wins against everyone except this person.
Who is the true owner?
Possession without permission.
What is hostile/adverse?
Future interest that waits patiently and does not cut short.
What is a remainder?
This case says that just chasing a wild animal is not enough—you must have control over it.
What is Pierson v. Post?
This doctrine limits how an owner can use their land when it interferes with others.
What is nuisance?
A baseball is almost caught, but another person grabs it in a chaotic crowd after interference.
What is Popov (pre-possessory interest)?
A person uses land like an owner, openly, continuously, and without permission for the statutory period.
What is adverse possession (all elements satisfied)?
“O to A for life, then to B if B graduates law school.”
What is a contingent remainder?