The Law of Property: An Introductory Survey
Authors:
Kurtz, Sheldon F. / Gallanis, Thomas P. / Hovenkamp, Herbert
Edition:
7th
Copyright Date:
2018
25 chapters
have results for hornbook property
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Chapter 1 PERSONAL PROPERTY: RIGHTS OF SOME POSSESSORS1 71 results (showing 5 best matches)
- F wins if the statute awarding title to lost property to the finder applies. On the face of the statute, the finder is only entitled to “lost property.” Two questions arise: (1) Did the legislature, in enacting the statute, intend the phrase “lost property” to encompass both lost and mislaid property or only lost property? If the latter, is the property characterized as lost or mislaid property and if it is mislaid property, is the finder still entitled to the property?
- A well drafted statute would have defined “lost property” to include both lost property and mislaid property if that was the legislature’s intent. In the absence of such definition, there is an ambiguity regarding legislative intent, and courts are divided on
- The finder of lost property has the right to possess the property against all the world but the true owner. Thus, if a third party wrongfully converts the property, the finder may recover the property if it is still in the wrongdoer’s possession, or the finder may recover the full value of the property from the wrongdoer.
- To say that a person has “title” to or “owns” personal property is to state a legal conclusion. A person can be deemed to have title to property as a legal conclusion even though the person does not have actual possession of the property as an observed fact. Conversely, to conclude that a person is entitled to possession of personal property does not necessarily mean that the person has title to or owns the property.
- As a general proposition the finder of lost property has the right to retain possession as against everybody except the true owner. If the true owner never materializes, the finder keeps the property effectively as a reward for his efforts in taking possession of the property and caring for it.
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Chapter 2 BAILMENTS23 21 results (showing 5 best matches)
- A bailment exists when a person (the bailor) delivers personal property to another (“bailee”) and gives the bailee control over the property while the property is in the bailee’s possession. The bailee must have “sole custody and control and exclusive possession of the” property, and must follow the instructions of the bailor.
- In order for A to recover, A must first prove that a bailment relationship existed between A and B. Generally, a bailment relationship exists either by express or implied contract, by operation of law, or by statute. (Most bailments arise by express contract). A bailment arises when a bailor transfers possession of the bailor’s personal property to the bailee and gives the bailee primary control over the property for some period of time. The bailee, however, must return the bailor’s property to the bailor or the bailor’s designee when the bailor demands the property’s return or when the bailment otherwise comes to an end. During the bailment—that is, when the bailor’s property is in the bailee’s possession—the bailee has sole custody, control and exclusive possession of the property, subject only to the bailor’s instructions.
- Generally, a bailment occurs when there is delivery of personal property by a prior possessor to a subsequent possessor for a particular purpose with an express or implied understanding that when the purpose is completed the property will be returned to the prior possessor or to another designated by the prior possessor.
- Ordinarily a person cannot transfer a greater title in property to a third person than the person possesses. Thus, a bailee ordinarily cannot defeat the rights of the bailor by transferring the bailed property to a third party.
- As noted, if a bailee does not return a bailor’s goods or does so when they were damaged while in the bailee’s control, the bailee may be liable under either a claim for conversion or negligence. A claim for conversion is premised on the bailee’s “unauthorized act of dominion over the bailor’s property inconsistent with [his] rights in the property.” The bailor may establish a prima facie case of conversion by demonstrating that the bailor delivered property to the bailee, demanded its return, and the bailee failed to return it. This showing shifts the burden to the bailee to prove what happened to the bailor’s property. At this point if the bailee offers no explanation for the bailee’s failure to return the property to the bailee or claims either that the bailee used the property for the bailee’s own purposes or delivered the goods to another without the bailor’s consent, the bailee is liable to the bailor regardless of any negligence. On the other hand, the bailee may offer up an...
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Chapter 3 GIFTS, INCLUDING BANK ACCOUNTS41 39 results (showing 5 best matches)
- The court also rejected the notion that the donee already had possession of the gift property making delivery unnecessary because the gift property was in the family home. Even if delivery is dispensed with where the donee has possession of the property, the court stated that in this case the house was decedent’s property and although the
- A future interest is an interest in property where the right to the possession of the property is postponed until some future date. For example, if O transfers property to A for life, and upon A’s death directs the property shall pass to B, B has a future interest because B’s right to the possession of the property is postponed until A dies. A, on the other hand, has a present interest, i.e., the right to possess the property for the rest of A’s life. See Chs. 5, 6 &7.
- A gift is a present transfer of an interest in property. The gifted interest can be either a present interest
- Yes, S is correct. In order to make a valid gift there must be intent, delivery, and acceptance. The intent must be to make a gift of some interest in the gifted property at the present time, whether that interest is a present interest or a future interest. A donor may gift a future interest and retain the present interest in the gifted property. Here, for example, F’s letter reflects his intent to gift a future interest in the painting to S, while retaining a life estate in the property for himself. The gift of the remainder interest is immediate and vests title in the donee subject only to the retained life estate in the donor.
- Donative intent is determined primarily by the words of the donor. In doubtful cases, however, the court, in determining whether there was intent, will consider the surrounding circumstances, the relationship of the parties, the size of the gift in relation to the total amount of the donor’s property, and the conduct of the donor towards the property after the purported gift.
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Chapter 4 RIGHTS OF POSSESSORS OF LAND, INCLUDING ADVERSE POSSESSION67 58 results (showing 5 best matches)
- due diligence to recover the stolen property at the time it was stolen and thereafter; (2) whether at the time the property was stolen there was an effective method to alert the marketplace that the property had been stolen; (3) whether the lost property was subject to any form of registration that could put the world on notice of ownership claims. Because personal property can be easily concealed, use of the discovery rule rather than the common law rule makes it easier for true owners to protect their rights so long as they use due diligence in seeking to ascertain the whereabouts of the lost property. Under this rule, so long as the search continues the statute does not begin to run.
- The possession of real property consists of dominion and control over the property with the intent to exclude others.
- The prior possessor of real property has title against the whole world except the rightful owner. As with personal property, the “rightful owner” may merely be a prior, peaceful possessor.
- Actual and exclusive possession requires only that the property be occupied and used as the average owner of similar property would occupy and use it
- Subsequent transfers of the personal property can affect the application of the discovery rule since each transfer complicates the ability of the true owner in ascertaining the whereabouts of the personal property.
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Chapter 10 SERVITUDES: EASEMENTS, COVENANTS, EQUITABLE SERVITUDES343 109 results (showing 5 best matches)
- held that the plaintiff did not acquire an easement by prescription for access to sunlight across the defendant’s property. What the plaintiff was in effect requesting was a legal rule that if the defendant did not build on its property for the prescriptive period, during which the plaintiff’s property received sunlight over the defendant’s property, then the defendant could never build on that property.
- There must be two properties owned by one person who uses one of the pieces of property to serve the other piece of property.
- A right to come onto property and take water is an easement, while a right to come onto property and take ice is historically a profit because ice was considered a product of the soil. If in its creation an easement or a profit is not intended to be attached to or appurtenant to a particular piece of land, the dominant estate, it is an easement or a profit in gross. In England an easement in gross cannot exist but a profit in gross can exist and is transferable. In the United States an easement in gross of a commercial nature is recognized and is alienable like any other property interest. So also is a profit in gross. A conveyance of a dominant estate carries with it all easements and profits appurtenant to it as incidents unless otherwise expressly provided.
- An attempt to create an easement or profit which fails because the deed of conveyance is defective will result in a license. E.g., A executes a deed granting to B a right to mine coal on property which is not described in the deed. The deed is ineffective for failure to describe the property on which the coal is to be mined. B has a revocable license to go onto the intended land to mine coal.
- If one owns personal property on the land of another with a privilege incidental to such personal property, such privilege is a license coupled with an interest and is assignable with the transfer of the personal property.
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Chapter 12 LEGISLATIVE CONTROL OVER LAND USE—ZONING, THE TAKINGS CLAUSE, AND HOUSING DISCRIMINATION481 129 results (showing 5 best matches)
- Health, safety, aesthetic and other regulations are generally not a taking unless the injury to the property is a very high percentage of its value, or it can be shown that the property can no longer be used profitably under the regulation. In its
- It also appears that Martha’s property, which is zoned for residence purposes, cannot economically be so used. Such a finding would not necessarily be conclusive if the property could be used for some other proper purpose. But if property can lawfully be used for one purpose only and that use will not pay, then the effect of the ordinance is practically to nullify any use at all. That is an unconstitutional taking of property. Here is a piece of land zoned for residence purposes only, when on two sides it is bounded by properties already being used for businesses and a small intervening tract which is unrestricted. On the other two sides are streets. Who would be interested in buying such property for a house? The injunction should issue, and Martha should be able to use the west 100 feet of Blackacre without regard to the provisions of the zoning ordinance.
- Finally, the gross amount of compensation is presumably based on the property’s fair market value—“the amount which a purchaser willing, but not required, to buy the property would pay to an owner willing, but not required, to sell it, taking into consideration the highest and best use to which the property can be put.”
- Price regulation that permits the property owner to earn a reasonable (competitive) rate of return on her property is not a taking.
- If a taking is found, the government must compensate the property owner for reasonable damages incurred during the period that the property was subject to the statute or regulation found to be a taking.
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Chapter 5 CLASSIFYING POSSESSORY ESTATES107 62 results (showing 5 best matches)
- Suppose B has a life estate and conveys to C. Because B cannot create an estate in C greater than the estate B has, C has an estate for the life of B. If B dies in C’s lifetime, C’s estate ends, and the property reverts to B’s grantor. If C dies in B’s lifetime, C’s successor succeeds to the property until B dies. Alternatively, suppose B, who has a life estate, conveys to C for life. Here, C has an estate that terminates upon the death of C or the death of B, whichever first occurs. If B dies first, C’s estate ends and the property reverts to B’s grantor. If C dies first, the property reverts to B, who by conveying to C for C’s life, retains a reversion for life. Then at B’s later death, the property reverts to B’s grantor.
- Our legal system permits outright ownership of property. When speaking of personal property, we refer to
- A provision in a deed or will directing that the transferee of property cannot dispose of the property is void as a disabling restraint on alienation.
- A restraint which disables a fee simple owner of land from alienating the property is void, and the owner may dispose of the property in fee simple.
- A disabling restraint is a direction in the creating instrument that the estate shall not be alienated. If this restraint were valid, it would create a non-transferable estate. If a disabling restraint were valid, the transferee subject to the restraint could not alienate the property and would not lose his interest in the property even though in violation of the restraint he purported to alienate the property.
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Chapter 7 SPECIAL RULES GOVERNING FUTURE INTERESTS207 40 results (showing 5 best matches)
- Historically the Rule applied only to conveyances and devises of real property; it had no application to transfers of personal property and chattels real. Some jurisdictions, however, applied an analogous rule to personal property as a rule of construction.
- At common law the Doctrine applied to dispositions of real property. Today, it can apply to dispositions of all property, outright or in trust. For example, if O transferred property to T to hold in trust to pay the income to A for life, then upon A’s death to distribute the trust corpus to O’s heirs, O’s heirs would have nothing and O would have a reversion.
- For example, suppose O grants B a first right of refusal to purchase land in the event O should decide to sell that land in the future at a price equal to that offered by a prospective buyer. In this case, it is argued, the “marketability of the property remains unfettered.”
- (where a will devised property to testator’s wife and daughter for their lifetime and provided that if the daughter “has no heirs” the property should go to the testator’s son, the daughter received a life estate and upon her death her children took remainder in fee by implication); Simes, 50; Restatement of Property §§ 312, 313.
- The Doctrine requires only that there be (a) a conveyance of real property and (b) a limitation to the grantor’s “heirs” or its definitional equivalent. (Sometimes the word “children” or “issue” is used—idiosyncratically—to mean heirs.
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Chapter 11 NUISANCE449 43 results (showing 5 best matches)
- Is the disturbance to A’s enjoyment of his property substantial and unreasonable? We must assume that A has normal sensibilities. A says that the dread of the disease substantially disturbs his enjoyment of his property. Is that disturbance peculiar to A alone? It seems it is quite generally shared by the entire public in the jurisdiction where this property is located since the presence of B’s facility has depressed values of the surrounding real property from a third to a half. Is the question of comfortable enjoyment of property to be determined by the result of scientific investigation or by the effect of the defendant’s conduct on the average normal person who lives on and uses property? Does it depend on what goes on in the
- To be an actionable nuisance: (a) the plaintiff’s use and enjoyment of his property must be interfered with substantially and unreasonably, (b) it must have been caused by the defendant’s conduct, and (c) the defendant’s conduct must be intentional and unreasonable on the one hand or negligent, reckless or ultra-hazardous on the other. In the absence of evidence that a person is ultrasensitive it must be assumed that he is normal and with ordinary sensibilities. The reasonableness of use of property is determined by weighing the utility and necessity of the defendant’s conduct against the gravity or seriousness of the effect upon the plaintiff in the use and enjoyment of his property. Comfortable enjoyment of property includes peace of mind as well as physical comfort.
- Ordinarily, whether or not B’s use of his property was reasonable or unreasonable would be a fact question. If it were so in this case then the equity court sitting as a trier of fact has, by denying the injunction, found the fact against A. But in this case the facts seem to exist without conflict, and being thus settled, the reasonableness of B’s use of his property is a question of law which the court properly determined in B’s favor.
- The fact that the court has seen fit to grant an injunction unless B can within six months find a way of operating his business without its being a nuisance means that the court has found two additional facts: (a) that B’s use of his land under the circumstances is unreasonable and (b) that such unreasonable use has caused the substantial injury to A in his enjoyment and use of his property. Hence, there is a nuisance being committed by B in the manner in which he is using his property. The court has agreed that A was an average person with ordinary sensibilities when B began using his property unreasonably (or when the use first affected A), but the unreasonable use by B has materially affected A’s health by making him nervous and unreasonably sensitive. Although the law does not provide protection for the ultrasensitive,
- , where the appellate court upheld an award of an injunction even though the cost to the defendant of complying with the injunction was far greater than the market value of the plaintiff’s property. Presumably, if the plaintiff had been limited to a damage award, the award (or at least that part of it for the damage to the real property itself) could not exceed the value of the property before the injury. See also
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Index 741 7 results (showing 5 best matches)
Chapter 8 MARITAL AND CONCURRENT ESTATES245 47 results (showing 5 best matches)
- Generally, an elective or forced share equals some percentage (e.g., one-third) of the value of all real and personal property owned by the deceased spouse at the time of death. Thus, unlike common law dower, the spouse’s share also extends to personal property. On the other hand, in many states the share attaches only to property owned at death. This is unlike the common law, where dower attached to real property owned at any time during the marriage. Under these modern statutes, sometimes no measure of protection is provided a surviving spouse against lifetime or nonprobate transfers of property that have the effect of reducing the value of the decedent’s probate estate. Some states, concerned by the inequities that could result to a surviving spouse by such transfers, have by statute or judicial decision adopted rules which permit the surviving spouse to reach such assets in satisfaction of a forced share.
- The tenancy by the entirety is not recognized in many states because it is viewed as an estate inconsistent with the policies underlying Married Women’s Property Acts which were intended to give women management and administrative control over their property.
- (App.Div. 1957) (where money was recovered for damage to property held by a husband and his estranged wife as tenants in the entirety, the state’s Married Woman’s Act created a tenancy in common and the husband was entitled to reimbursement for his expenses repairing the property from his wife’s share of the award);
- A joint tenant owns the whole of the jointly owned property, not a fractional part. The joint tenant can dispose of his or her entire interest and the grantee of that interest takes a fractional part as a tenant in common. A joint tenant may dispose of an interest in a specific part of the jointly owned property. The interest of a joint tenant can be levied upon and sold by his creditors. Upon the death of a joint tenant, the decedent’s surviving spouse cannot claim dower, and the decedent’s heirs have no interest in the property.
- (where a husband conveyed property to himself and his wife, such a conveyance, in the absence of any express statement that a joint tenancy was intended to be created, operates to make the husband and wife tenants in common; and transfer taxes on the husband’s death could only be assessed against one-half of the property);
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Chapter 16 CONVEYANCING BY DEED625 38 results (showing 5 best matches)
- This problem should be distinguished from one in which the grantee immediately states that he does not want the property, or his first reaction upon hearing that he has received property is to reject it.
- (where property description divided a building by reference to a “center wall,” which was inconsistent with the given metes and bounds description, court divides property along wall currently in place closest to center, even though it may not have been the historical wall referenced in the deed; significantly, the metes and bounds description would have divided the property down the center of a room).
- Today, the Statute of Frauds requires a writing and a signature by the grantor of an interest in real property, excluding short term leases
- An exception is an exclusion of some part of the corporeal property described in the deed from the operation of a deed. The excepted portion is wholly unaffected by the deed and remains in the grantor. E.g., A conveys Section 14 to B and his heirs “except the northeast quarter thereof.”
- Historically, a reservation created a right or incorporeal interest which had not existed previously, and which issued out of the land as a feudal service. The grantor was considered to have conveyed the entire property to the grantee free from any burden, then the grantee, in the same deed, “regranted” the interest reserved to the grantor.
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Preface v 2 results
- This volume represents a revision of the previous edition of The Law of Property: An Introductory Survey by Hovenkamp, Kurtz, and Gallanis. The cases and statutory law have been updated, and the material has been organized in a way to conform with the typical law school property curriculum that includes both personal and real property. New material has been added, as appropriate. The book is designed to cover nearly all of the material encountered in the typical law school’s first-year property law curriculum, plus some of the material covered in advanced courses.
- Each chapter opens with a “summary” or brief outline of the law encompassed under the title of that chapter. This outline, which cites relatively few cases, is designed to give the reader an overview of the rules in a particular area of law. Then follows a series of factually-based problems designed to require the property student to think about how these rules ought to be applied in a real situation. Each problem is followed by a short statement of the applicable law, and then by a lengthy analysis of the legal issues raised, likely outcomes, and case citation of various views, as well as to commentators in the treatises and periodicals. The problems are designed to be intensive, in that they require close analysis of the particular legal rules under application. In the aggregate, the problems are also meant to be extensive, in that they cover most of the areas of interest and complexity pertaining to this body of law.
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Chapter 9 LANDLORD AND TENANT LAW269 83 results (showing 5 best matches)
- A provision forbidding a landlord from taking a residential rental unit off the market is probably constitutional unless the provision forces the landlord to keep rental property on the market even if the property is losing money.
- The Restatement of Property, Second, adopts the rule that the landlord covenants that residential property is suitable for residential purposes
- Restatement (Second) of Property § 5.1 provides various remedies available to the tenants where the landlord breached obligations of the landlord making the leased property not suitable for the contemplated ‘residential’ use. This section does not apply to commercial leases; however, the reporter’s note to this section states:
- Finally, a provision forbidding a landlord from taking a residential rental unit off the market is probably constitutional unless the provision forces the landlord to keep rental property on the market even if the property is losing money.
- Under the implied covenant of quiet enjoyment, the landlord impliedly covenants that neither the landlord nor anyone claiming a title to the property that is derivative of the landlord will wrongfully interfere with the tenant’s use and enjoyment of the property. Similarly, the tenant has an action against the landlord if someone with a superior title to the landlord interferes with the tenant’s use and enjoyment of the property.
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Chapter 15 THE EVOLUTION OF THE MODERN DEED611 16 results (showing 5 best matches)
- A owns the real property in fee simple. A signs, acknowledges, and delivers a deed in the above form to B. A properly describes the property and fills in $1.00 as the consideration. On what theory would this deed operate as a conveyance in State X?
- M owned Blackacre in California. She wrote several letters to her son, Sam, in a distant state requesting him to leave his job there, go to California to live, and take care of Blackacre and other property. In her letters, dated and signed by her, she wrote, “Blackacre is your property” and “I have written you several times that the little place with the garden, Blackacre, is your property.” M was a citizen of Germany and lived there. Sam was a United States citizen and lived in the United States. Sam then left his job, traveled
- Mere informal letters from the grantor to the grantee may constitute an effective conveyance of real property under a modern statute which defines a “transfer” as an act of the parties by which title to real property is conveyed from one person to another.
- M’s intent seems clear. She wrote, “The property is yours.” These informal letters constituted a compliance with the statutory requirements, and conveyed Blackacre to Sam. The State has the power to prescribe methods of conveying real property. If it prescribes merely a signed and dated writing, then compliance with such statutes will convey land wholly without reference to technical requirements of the common law or former statutes.
- Each state has the power to prescribe the form which a conveyance of real property shall take and the power to determine the legal effect of a conveyance, subject only to federal law.
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Chapter 6 CLASSIFYING FUTURE INTERESTS151 56 results (showing 5 best matches)
- At common law if an instrument could be construed to create either a vested or a contingent remainder, the construction that resulted in the creation of a vested remainder was preferred. This preference was intended to make the property more alienable since the holder of a contingent estate could not alienate the property. There is some doubt whether this preference should continue. A preference for early vesting could result in subjecting property to a death tax it might not otherwise have been subjected to and this is likely inconsistent with a grantor’s intent.
- Section 25.2 of the Restatement Third of Property states: “A future interest is either a reversion or a remainder. A future interest is a reversion if it was retained by the transferor. A future interest is a remainder if it was created in a transferee.” Thus, under the Restatement Third of Property, the three traditional reversionary future interests—the reversion, the possibility of reverter, and the right of entry—are called reversions. In Problem 6.4, H had a reversion; in Problem 6.6, X had a possibility of reverter; and in Problem 6.8, C had a right of entry. Under the simplified system of the Restatement Third of Property, each of these interests is called a reversion.
- Section 25.2 of the Restatement Third of Property states: “A future interest is either a reversion or a remainder. A future interest is a reversion if it was retained by the transferor. A future interest is a remainder if it was created in a transferee.” Thus, under the Restatement Third of Property, the two traditional non-reversionary interests—the remainder and the executory interest—are called remainders.
- Reversionary Interests Under the Restatement Third of Property.
- Non-Reversionary Interests Under the Restatement Third of Property.
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Chapter 17 ASSURANCE OF TITLE667 50 results (showing 5 best matches)
- A related problem is the insurer’s liability when the property has increase in value since the policy issued. Suppose the purchase price was $100,000 and the policy $100,000, and many years later title to 10% of the property fails. That 10% was worth $10,000 when the property was purchased, but today the property is worth $2,000,000, and the property represented by the 10% is worth $200,000. In any event, the insurer will be liable for only the face value of the policy, $100,000. But will it be liable for the loss as of the time the policy issued, $10,000, or for the full amount of the loss, measured as of its occurrence? See
- a recital in an instrument in such direct chain of title. E.g., A, who is grantee in a deed in the direct chain of title, gives to B a mortgage on the property, which mortgage is not recorded. A then gives a deed to C which deed recites, “subject to a mortgage given to B on said property.” This
- Assuming, however, a jurisdiction that would follow the earlier interpretation and would construe the title covenant most strictly against the grantor and without modification, then we would find that C’s mortgage with its covenant of warranty is a conveyance by A of a larger interest than A had in the property at the time it was given. After B’s foreclosure, A had no interest in the property because it had been completely cut off by B’s foreclosure action. Thereafter, A acquires by purchase the fee simple in the property. At the instant of reacquisition, the benefit inures to C under estoppel by deed. The doctrine is binding both on A, a party to the original second mortgage, and on those who take through him, D in our case. This is true whether or not D is a bona fide purchaser. This was the common law rule and were we to stop at this point the answer to our question would be yes, and C could foreclose C’s mortgage. In other words, if this case were to be determined wholly on the...
- There are six covenants for title to real property:
- The covenant against encumbrances is a guarantee to the grantee that the property conveyed is not subject to outstanding rights or interests that would diminish the value of the land.
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Chapter 14 SELLER AND BUYER: THE LAND SALE CONTRACT569 52 results (showing 5 best matches)
- exclusive listing or agency agreement, in which the broker is entitled to a commission if the broker or another broker sells the property, but the broker is not entitled to a commission if the owner personally sells the property; exclusive listing frequently becomes multiple listing with the members of a local real estate board who agree to divide the commission if one other than the listing broker effects the sale; and
- The administrator of Matthew Marshall’s estate brought suit in 1966 to have a trustee appointed to convey the legal title to the property to the heirs of the deceased on the ground that the deed executed in the name of the Atlantic Beach Company by Terry to himself in 1924 was void as a forgery. Should the Marshall estate recover title to the subject property?
- Follman Properties Co. v. Daly, 790 F.2d 57 (8th Cir.1986)
- to buy the property on the terms and conditions set by the seller. A sale need not actually be consummated under this traditional view.
- nonexclusive, open or ordinary listing, where the broker is entitled to a commission only if the broker is the first to procure a buyer; if the property is sold by the seller, or by someone else, the broker has no claim;
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Chapter 13 COOPERATIVES, CONDOMINIUMS AND HOMEOWNERS ASSOCIATIONS545 14 results (showing 5 best matches)
- The tenant-owner of a condominium can deduct mortgage interest and property taxes, while a lessee cannot generally deduct any part of the rental payment. Likewise, gains earned on the resale of housing may be long-term capital gains which, at various periods in our tax history have qualified for lower tax rates than ordinary gains. See R. Natelson, Law of Property Owners Associations, Ch. 13 (1989).
- The techniques employed in horizontal subdivisions, such as the covenant running with the land or equitable servitude, the property owners’ association, easements and licenses, are employed in the creation of cooperatives and condominiums. Also, of course, the project must conform to applicable zoning regulations.
- The declaration or master deed is the instrument by which the property is subjected to or brought under condominium use. It commonly contains provisions covering the following as well as other items:
- Further, the social evils frequently asserted as avoidable by invalidating restraints on alienation are not shown to be perpetrated by a cooperative device such as this. The restraints involved will not tend to keep the property in the same family and concentrate wealth; the member is not prevented from liquidating his interest and consuming the property; creditors are usually not prevented from satisfying their claims; and members are not discouraged from improving their homes. The restrictions on transfer are reasonably necessary to the continued existence of the cooperative association. Of course, cooperative enterprises are just as subject to federal and state antidiscrimination law as any other entity.
- owners since they are living in such close proximity and using facilities in common, each unit owner must give up a certain degree of freedom of choice which he might otherwise enjoy in separate, privately owned property. Condominium unit owners comprise a little democratic sub-society of necessity more restrictive as it pertains to use of condominium property than may be existent outside the condominium organization.”
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Center Title 1 result
Table of Cases 721 18 results (showing 5 best matches)
- Publication Date: October 10th, 2018
- ISBN: 9781642420913
- Subject: Property
- Series: Hornbooks
- Type: Hornbook Treatises
- Description: This title is a comprehensive, one-volume introduction to the modern law of real property. Each chapter begins with an overview of rules and concepts, followed by a series of problems and exercises designed to demonstrate how the rules and concepts apply in real situations. Each problem is followed by a comprehensive analysis of the legal issues raised, including citations of the relevant cases and statutes. This edition has been fully updated to reflect current developments.
