Bundle of Sticks Flashcards
Protect first-in-time possessors
Encourage labor
property produced through his own labor
Maximize the overall happiness of society /utilitarian use of resources
Enhance democratic principles
property facilitates democracy
Facilitate personal development /personhood” theory
Five theories to justify why our society recognizes property rights
The right to Transfer
The right to Exclude
The right to Possess and Use
The right to Destroy
Bundle of Sticks
Mere pursuit of a wild animal on uninhabited land does NOT give the pursuer a right to, or a property right in, the wild animal so as to sustain an action against another who, with knowledge of the pursuer and in sight of the pursuer, kills the animal and takes it away
Rule of Capture
As a general rule, any owner may freely transfer or alienate any of her property to anyone.
, the law regulates what property can be transferred.
some types of property cannot be transferred at all (such as rights to military pensions), while others can be given away but not sold (such as corneas)
Right to Transfer
Each owner has a broad right to exclude any other person from his property.
a landowner’s right to exclude is implemented through the tort doctrine of trespass
an entry made under a privilege is not a trespass.
The most common privilege is consent:
A privilege may also arise from necessity.
Right to Exclude
Traditionally, a landowner had the absolute right to use his property in any way he wished—as long as he did not harm the rights of others.
Right to Use
Under the modern American rule, however, one may not erect a structure for the sole purpose of annoying his neighbor.
Many courts hold that a spite fence which serves no useful purpose may give rise to an action for both injunctive relief and damages
Spite Fence
A private nuisance is an (1) intentional, (2) nontrespassory, (3) unreasonable, and (4) substantial interference with (5) the use and enjoyment of the plaintiff’s land.
Nuisance
is a logical adjunct to the right to use.
In practice, the law rarely intervenes to prevent destruction. But concern arises when an owner seeks to destroy property that has substantial value to society, and some courts have limited this right.
Right to destroy
Fee simple absolute
Fee simple determinable
Fee simple subject to a condition subsequent
Fee simple subject to an executory limitation/interest
Fee tail
Life estate
Term of Years
Modern Freehold Estates
Estates in Land & Future Interest are Transferred
By Deed, Will, or Intestate Succession
It is the largest estate recognized by law
The holder has all of the “sticks” in the metaphorical bundle (the rights to use and possess, transfer, exclude others, and destroy)
There are no limitations or conditions on the holder‟s rights
There is no corresponding future interest
Sometimes abbreviated as “fee simple” or “FSA”
The duration is potentially infinite
It is the predominant estate used for the ownership of land in the U.S.
Fee Simple Absolute
it can be sold or given away during the owner‟s lifetime
Alienable
it can be transferred by will at the owner‟s death
Devisable
it can pass by intestate succession if the owner dies without a will
Descendible
