Property Final Review

Transferring Property

100

Stages of a Property Transaction

-letter of intent/offer sheet

-purchase and sale agreement

-delivery of deed and other processes

-closing

200

Requirements for a valid gift:

-intent to give

-delivery

-acceptance

300

Gifts Causa Mortis 

Gifts Causa Mortis are gifts of personal property made by someone in anticipation of their imminent death

400

When do we assume acceptance?

when conveyance would be beneficial to the grantee

500

what are the two types of deeds? Define them.

(1) a general warranty deed provides covenants of title from the grantor to the grantee, assuring the grantor will warrant and defend the grantee's title against all competing claimants or claims not specifically expected; and,

(2) a quitclaim deed provides no covenants of title from the grantor to the grantee.

Nemo Dat/ Mortgages

100

Kunstammlungen Zu Weimar v. Elicofon

A painting was stolen by an American service member & sold to Elicofon in 1946 Brooklyn. Long story short because the paintings were stolen and then sold the buyer never had possession because the thief never had possession and nemo dat applies. Theft does not give legal right of ownership. Stays with last rightful owner.

200

In a race-notice jurisdiction, Nick transfers ownership of the loft to Schmidt, who does not record. Nick then transfers to Jess, who has no knowledge of the conveyance to Schmidt and records. Jess then gives the property to Winston who knows about the original conveyance to Schmidt. Can Winston still take good title? If so, why?

Yes, because of the shelter rule.

300

Timmer v. Gray

Timmers bought discs they believed were in a state of disrepair. However, the discs had actually been repaired by Maggart. The court held that the Timmers own the discs but Maggart holds an equitable lien. This holding exemplifies that liens can be imposed as a matter of law, in addition to by contractual agreement/consent. These liens can be difficult for parties to identify. An equitable lien, which was applied here, is applied to avoid unjust enrichment when an improver of property (such as Maggert) does not get paid. There are also mechanic’s liens. Mechanic’s liens allow someone who safeguards, repairs, or improves personal property to possess/sell it to satisfy an unpaid debt for the service they provided. Typically, the creditor must either still possess the property or have posted notice according to state law of their existing lien on it.

400

foreclosure priority in the basic order

initiating creditor à junior interests à debtor

500

define recourse mortgage and non-recourse mortgage

the mortgage is recourse if the creditor can continue coming after the debtor for the rest owed. Non-recourse they cannot continue coming after debtor.

Land Use

100

Nuisance

According to the restatement (second) of torts, a nuisance is a substantial nontrespassory invasion of use and enjoyment of land that is caused either by: negligent, reckless, or ultrahazardous activities.

200

Spur Industries Inc v. Del E Webb Dev

• Del E. Webb Development was making a retirement community on land adjacent to Spur Industries. Spur raised cattle. Webb sued Spur because it argued the smell from the cattle farms was a nuisance. This case exemplifies Calabresi & Melamed’s Rule 4. The plaintiff’s property use was more beneficial and harder to relocate, but the defendant’s property use had fit the area for a long time before, and the plaintiff likely got a good deal on the land because of it. Therefore, the nuisance-causing activity can be stopped, but the cost falls on the plaintiff. Coming to the nuisance can function as a defense for a nuisance causing defendant, but the defendant cannot have been able to foresee the plaintiff’s arrival and regardless, the nuisance may still have to stop if it is causing a public health issue or disturbance.

300

Nico and Isabella own a hotel on the shore of the Atlantic. For many years, Nico used a space on his property for a pool and a sun bathing area for his guests. Hayley buys the property next-door and decides she wants to go full demo and expand. More specifically, she wants to build an additional five stories onto her building, which would block the sunlight that streams into Nico's pool and sun bathing area. Nico sued seeking to stop Hayley, can he succeed?

There is no legal right to the flow of air and light from a neighboring property. You cannot create a negative easement by prescription or necessity. When structure has useful purpose, it does not interfere with any rights if it obstructs airflow and sun. Some states have other laws for wind and sun keyed towards reserving some for renewable energy producers. See Fontainebleau Hotel v. Forty-Five Twenty-Five.

400

Easement by Estoppel

The requirements for Easement by Estoppel are (1) the true owner gave permission (like a license); (2) the user relied to their detriment on this permission by materially changing the position; (3) it would be inequitable to revoke permission. The easement likely lasts only as long as it would be inequitable to terminate it. In other words, cannot permit a licensee to erect structures relying on existence of an easement, then say it is just a license. This is an inducement to make improvements or expenditures, to their detriment

500

What are the requirements for real covenants to run with the land? What about equitable servitudes?

Real Covenants

• Intent
• Horizontal privity
• vertical privity
• touch and concern the land /
• Equitable Servitudes – they are trying to get an injunction
• intent
• touch and concern the land
• notice

Takings/Zoning

100

is racial zoning constitutional?

No.

200

what is the takings clause

This fifth amendment states “No person shall…be deprived of life, liberty, or property, without due process of law; nor shall private property be taken for public use, without just compensation.” There are four parts to the takings clause: (1) private property; (2) taken; (3) public use, (4) just compensation

300

Kelo v. City of New London

• In 2000, the City of New London, Connecticut approved a new development project that involved using its eminent-domain authority to seize private property to sell to private developers. The city stated that the purpose of this was to create new jobs and increase tax revenues from the sale of property. The court held that this ordinance was constitutional. Specifically, the majority held that public use means public purpose. Kennedy concurred and said yes, but make sure the public purpose is not pretext to just benefit private property. O’Connor dissented reasoning that takings for private entities is only allowed when (1) public will still use or (2) serving a purpose of harm prevention like blight or land oligarchies. Thomas also dissented taking an originalist approach and arguing that public use means public. The key takeaway from this case is that takings will be upheld as long as they are rationally related to conceivable public purpose (i.e., economic rejuvenation of community is enough) (limit: purely private takings from A to B)

400

Is just compensation a liability rule or a property rule according to Calebresi and Melmad

Liability rule

500

Partial Takings

Compensation for what was taken, then additional compensation for any resulting decrease to value of remaining property or reduce compensation for any increase to value.

Bonus

100

What is Peeta Mellark's favorite color?

orange

200

who played Edward Cullen in Twilight

Robert Pattison

300

what is the train platform called in harry potter?

platform 9 and 3/4

400

what does Joanna Mason's district specialize in?

lumber / trees

500

What valuable substance is found on Arrakis, known for its life-extending properties?

Melange (or spice)