Property Definitions Flashcards
Studying
What is required for possession?
Possession = intent + control. 1) an intent to possess on the part of the possessor, and 2) their actual controlling or holding the property
What is conversion?
A common law tort of using another’s property inconsistent with the rights of the true owner or rightful possessor.
What is a replevin?
The action or remedy to recover an asset that has been converted by another. This typically includes money damages for injury to the asset.
What is trover?
The action for monetary compensation for conversion of personal property. This is a forced sale, essentially.
What is lost property? Who does it belong to?
Property the true owner unintentionally and unknowingly dropped or lost. Lost property belongs to the finder, assuming the true owner cannot be located.
What is mislaid property? Who does it belong to?
Property the true owner intentionally placed in a given location and then left, or intentionally left intending to return for it later. Mislaid property belongs to the owner of the locus in quo (unless and until the true owner is located).
What is abandoned property? Who does it belong to?
Property the true owner intentionally and voluntarily relinquished, with the intent no longer to own the object and without transferring his rights to another person. This requires an act of abandonment and the intent to abandon. Typically, the finder keeps this, but courts usually disfavor trespassers, so a trespasser who finds lost property, abandoned property, or treasure trove will lose out to the landowner.
What is a gift? What two types of gifts do we study?
A voluntary, noncontractual, gratuitous transfer of property. Inter vivos gift, which is a gift between living persons, and a gift causa mortis, which is a gift made on account of a donor’s impending death.
What elements are necessary for an inter vivos gift?
Donative intent, delivery of the object to the donee, and the donee’s acceptance of the object.
What is a bailment?
The transfer and delivery by an owner or prior possessor of possession of personal property to another (the bailee) whose purpose in holding possession is often for safekeeping, repair, transportation, or for some other purpose more limited than dealing with the object or chattel as would its owner and where the return of the object or chattel is to be in the same, or substantially the same, undamaged condition in which it was received.
What is misdelivery for bailments?
Occurs when a bailee delivers the bailed object to an unauthorized person. The bailee is strictly liable in these cases.
What are the 3 standards of care for bailments?
- Slight care, meaning gross negligence needs to be proven.
- Reasonable care, meaning negligence needs to be proven.
- Mere neglect/strict liability, meaning only mere neglect needs to be proven.
What is adverse possession? What elements are required for a successful AP?
A legal doctrine that allows someone to take the property of another.
1) actual entry, 2) open and notorious possession, 3) adverse and underclaim of right, 4) continuous for the statutory period, which varies state to state
What is a fee simple interest? Conveyance language?
Closest thing our system has to full ownership of land. Unlimited duration. No future interest.
“to A and A’s heirs.”
What is a life estate? Conveyance language?
Duration is limited and measured by a human life. The future interest is that upon death, the land goes to someone else. The default is a reversion.
“to A for life” (reversion) | “to A for life and then to B” (remainder)
What is the difference between vested and contingent remainders?
A vested remainder belongs to a known person with no conditions, while a contingent remainder depends on a condition precedent.
What does RAP prohibit?
No interest [subject to the rule] is good unless it must vest [in a closed class], if at all, no later than 21 years after some life in being at the creation of the interest
What types of interests commonly violate RAP?
Contingent remainders, executory interests, and some class gifts (e.g., “To A’s grandchildren who reach 25”).
What are the four unities required for a joint tenancy?
Time, Title, Interest, and Possession.
How can a joint tenancy be severed?
By sale, partition, or sometimes by a mortgage (varies by jurisdiction)
What are the four types of leasehold estates?
1) Term of years, 2) Periodic tenancy, 3) Tenancy at will, 4) Tenancy at sufferance.
What does the Implied Warranty of Habitability require from landlords?
Landlords must keep residential premises in livable condition (e.g., no major structural issues, heat, plumbing).
What are the elements of constructive eviction?
1) Landlord intended that tenant no longer enjoy the premises, 2) landlord committed a material act or omission, 3) landlord permanently deprived P of the use and enjoyment of the premise, 4) tenant abandoned the premises
What is an assignment when we’re thinking about transferring leases?
Transfer of all of their rights to the new tenant