How is Property Acquired

Question 1

Child Support Nuances

Answer 1

you have to support your minor children

Children of divorced parents are entitled to be supported according to the standard of living to which they were accustomed to

Majority rule: no requirement to pay for adult child college;

Minority: the court can find from the way you lived, if you expected to pay for the education then it can force you after divorce

Question 2

Inheritance

Answer 2

can be either (1) by will, or (2) the intestacy statute will apply if there’s no will

You cannot write your spouse out of your will because there is a legal duty to support each other (in Europe the same applies to children)

Question 3

Gifts 2 types of gifts

Answer 3

Someone can give you something. This can either be (1) inter vivos – from one living person to another, or (2) testamentary transfer – a gift effectuated at death by will or inheritance

Question 4

3 requirements for a gift

Answer 4

1. Intent to transfer title
2. Delivery of the property – generally physical transfer, but constructive delivery may sometimes suffice if physical delivery is inconvenient or impossible (such as a car, I can give you the key) FORK:SOME only rec constructive delivery if physical transfer is inconvenient or impossible.
3. Acceptance by the donee

See In re Irrevocable Trust Agreement of 1979

Question 5

Acquire right to a wild animal in public land you have to

Answer 5

(1) manifest an unequivocal intention of possessing the animal, (2) deprive it of its natural liberty, and (3) bring it within your control

Pierson v. Post

Dissent: Noxious beasts so should promulgate a rule that promotes hunting.

Question 6

The law of capture

Answer 6

if an underground resource is liquid or can otherwise move, you have a right to drill for (oil) beneath your own land, even if you share a common pool with your neighbor, and some of the oil comes from under your neighbor’s land as long as everyone has a fair shot. But you have to be acting legitimately, if you’re wasting it then you do not have this right, and you are liable to your neighbor for damages (this is to do away with the problem of the commons – you must use it for useful purpose)

Question 7

Relative Right to title

Answer 7

It’s about having better title, not necessarily true title.

Question 8

Lost

Answer 8

if the original owner accidently misplaced it but didn’t abandon it, the finder wins against everyone except the owner

Question 9

Mislaid

Answer 9

if it’s found on private property, some court presumes the original owner left it there intentionally and award it the land owner who has a right against everyone except the original owner, other states treat it the same as ‘lost’ and award it to the finder who beats everyone but the original owner

Question 10

Abandoned

Answer 10

if the original owner forms an intent to relinquish all rights to the property the finder will win even against the original owner.

Question 11

Lost property found on private property

Answer 11

if you are a trespasser you lose to the owner, if you are invited then you still lose to the owner in most stats if found inside the home, but if found in a place open to the public, the owner loses to you in states that don’t differentiate between mislaid and lost

Question 12

Lost property found on private property: If it’s embedded in the land

Answer 12

courts will give it to the land owner because it is part of the land

• If it’s a treasure trove (gold, silver, money intentionally hidden) under the American rule it goes to the land owner (instead of to the crown). But most states have statutes that require you to notify the public and it becomes your if no one claims it within a specified amount of time

Question 13

Transfer of stolen property

Answer 13

• If someone steals property and sells it to a bona fide purchaser there is no sale, because you cannot transfer title that you do not own
• But, if you obtained it lawfully (someone give you their car to fix) and you sell it to a bona fide purchaser, in some states that apply the UCC rule, the original owner can only come after you for damages, but they cannot get the car back from the bona fide purchaser