Property Flashcards
Right of Capture
First in time, first in right
Actual Possession of Ferea Naturae
(1) Interest in capture expressed;
(2) Deprived of liberty;
(3) Actual possession
Traits of Domesticated Animals
Habit of returning
Evidence - Bell, brand
Riparianism
Ownership and right to use water of joining lands
Prior Appropriation
First to make use of the water you are its owner
Externalities
a cost or benefit that is imposed on a third party who did not agree to incur that cost or benefit.
Bundle of Rights
Disposition Exclude Enjoy Possess Control
Easements
Non-Owners may enter onto an owner’s property even if the owner objects to the entry
Bailment standard’s of liability
Benefits the bailor: gross negligence
Mutual benefit: ordinary negligence
Benefit of the Bailee: slight negligence, great care
Bailee misplaces the property: strict liability
Adverse Possession
Actual entry
Should be in possession as a true owner would
Exclusive possession
You can’t control the same space as owner/public
Open and notorious
Statute of limitation doesn’t begin until the owner
knows of the trespass
Hostile and adverse
Can’t have permission from the true owner
Majority view - has the trespasser acted like a true
owner?
Good faith, Bad faith, Objective
Continuous and uninterrupted
Tacking
Privity of A chain of good faith possessors
Demand Rule
statute of limitation doesn’t start until the owner asks for them back
Discovery rule
statute of limitations once the owner has discovered or should’ve discovered through due diligence.
Acquisition by Gift
Intent
The donor must intend to make a present transfer of
an existing interest in the property.
Delivery
Must transfer possession to the donee with
manifested intention to make a gift to the donee.
Can be Manual, Constructive(keys to a house) or
symbolic
Acceptance
Inferred unless donee expressly refuses
Rule Against Perpetuities
A contingent future interest in a grantee is void the moment it is created if it will still be contingent longer than 21 years after the death of the last person alive at the time of conveyance.