Property Final Exam - 2023 Spring
5 Theories of Justifying Property Rights
(1) Protect first possession (2) encourage labor (3) maximize societal happiness (4) ensure democracy (5) facilitate personal development
Protect First Possession
first come first serve
Encourage Labor
mixes labor wi...
property final exam 2023 spring 5 theories of justifying property rights 1 protect first possession 2 encourage labor 3 maximize societal happiness 4 ensure democracy 5 facilitate persona
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Property Final Exam - 2023 Spring
5 Theories of Justifying Property Rights
(1) Protect first possession (2) encourage labor (3) maximize societal happiness (4)
ensure democracy (5) facilitate personal development
Protect First Possession
first come first serve
Encourage Labor
mixes labor with unowned natural resources
Maximize Societal Happiness
Utilitarianism and law & economics. Emphasizes that property rights systems should: be
universal, allow for exclusive rights, allow property to be transferable
Ensure Democracy
gives individual freedom and independent from the state, owning property makes you
independent from the state
Facilitate Personal Development
Each person has a close emotional connection to certain tangible things
What are the bundles of sticks? (4)
(1) Right to Transfer (2) Right to Exclude (3) Right to Use (4) Right to Destroy
Right to Transfer
the right to obtain ownership of property from or relinquish ownership of property to
another person
Right to Exclude
Right to exclusive enjoyment of his own property for any purpose which does not invade
the rights of another person
Trespass
Unprivileged, Intentional, entry onto land, owned by OR in possession of another
Right to Use
A landowner can use his property in any way he wished, as long as he did not harm the
rights of others
Private Nuisance Doctrine
Intentional, non-trespassory, unreasonable, substantial interference, with the use and
enjoyment of the plaintiff's private land
Spite Fence Doctrine
no owner has the right to erect and maintain a structure out of spite or malice the for
sole purpose of annoying/ injuring a neighbor
Right to Destroy
Extension of the right to use
Real Property
Land and things attached to land
Personal Property
Movable items, and intangible things
Adverse Possession (6)
(1) The actual (2) exclusive (3) open and notorious (4) adverse and hostile (5) and
continuous (6) for a statutory period
, Color of Title
a document or other instrument that appears to be a legitimate claim of title to a piece of
land, but due to a title defect, cannot transfer or convey ownership
Airspace Rights
Traditional - to whomsoever the soil belongs, he owns also to the sky and to the depths
Modern - beyond near-surface situations, the precise upward and downward limits are
unclear
Subsurface Rights
The standard is whether the surface owner's reasonable and foreseeable use of his or
her property is interfered with by a subsurface intrusion
Surface Water Approaches (3)
(1) Riparian (2) Prior appropriation (3) permit system
Riparian System
Able to take water for reasonable uses on their land, but cannot unreasonably interfere
with others (EASTERN STATES)
Prior Appropriation System
Allocated to the first person to divert water for beneficial use (WESTERN STATES)
Permit System
Requires a permit for the diversion of surface water (MODERN)
Groundwater Approaches (4)
(1) Rule of Capture (2) Reasonable Use (3) Correlative Rights (4) Permit System
Rule of Capture (Groundwater)
Can remove as much groundwater as you wish, even if it causes severe injury
(ANCIENT)
Reasonable Use Approach (Groundwater)
may use groundwater only for a reasonable use on the overlying land (MAJORITY)
(MODERN)
Correlative Rights Approach (Groundwater)
surface owner entitled to a proportional share of the groundwater beneath his land
(MODERN)
Permit System (Groundwater)
surface owner can obtain groundwater rights only by securing a permit
Reasonable use balance test factors (Groundwater) (6)
(1) Purpose of the use (2) suitability of the use to the location (3) extent and amount of
the harm (4) benefits of the use (5) necessity of the amount and manner of the water
use (6) any other factor that may bear on the reasonableness of the use
4 Methods of Acquiring Rights in Chattels
(1) Rule of Capture (2) Finders (3) Adverse Possession (4) Gift
4 Categories of Found Chattels
(1) Lost (2) mislaid (3) abandoned (4) treasure trove
Lost Property
owner unintentionally and involuntarily parts with the property
Mislaid Property
owner voluntarily and knowingly places the property somewhere, but then
unintentionally forgets it
Abandoned Property
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