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Unformatted text preview: Property (8/21/07 & 8/23/07) 1 st Possession Real property land o Ownership and control of the host of other natural resources like wild animals, water and minerals, peace and quiet, clean air, and open space Personal property property other than land o Tangible o Intangible Discovery by acquisition; the sighting or finding of unknown or unchartered territory Conquest taking of the possession of enemy territory through force, followed by annexation of the defeated territory by the conqueror Conversion o Intentional o Wrongful exercise of dominion, over the personal property of another Trespass to Chattel o Personal property has been damaged o The defendant has interfered with the plaintiffs use of the property Injunction order by the court to do something or to stop something Constructive trust equitable remedy that a court imposes against one who has obtained property by wrongdoing Abandoned property becomes someone elses property once they come into possession of said property Pre-possessory interest constitutes a qualified right to possession which can support a cause of action for conversion Cloud on title a defect or potential defect in the owners title to a piece of land arising from some claim or encumbrance (i.e. lien, judgment from lawsuit) Bundle of sticks property rights are made up by a bundle of rights; these rights may be total or partial and they may be present or for the future o Right to transfer o Exclude o Right to possess o Control Ownership right to possess a thing, regardless of any actual or constructive control Legal Positivism all rights generate from the govt Natural Law unless people gives the rights to the govt to own the land, than it belongs to the people 3 Theories o 1 st occupancy 1 st in time, 1 st in right o Labor-desert theory someone improves the property, they will receive some right o Utilitarianism (law/economics approach) best policy which does the most good for the greatest number of people Farae Naturea contrary to utilitarianism Boot-strapping reaching a conclusion from questionable premises Inchoate title incomplete title (8/28/07 & 8/30/07) 1 st Possession contd Constructive possession control or dominion over a property without actual possession Ferae Naturae Wild animal only possessed when dominion and control are over it (pursuit is not possession) o Ratione soli expansion to ferae naturae rule: the landowner has constructive possession of the wild animal because the wild animal is on their land or control over it Animus revertendi exception to the ratione soli rule: when the animal leaves the constructive possession of the land owner, under animus revertendi, the original possessor does not lose his title if the wild animal has a habit of returning Fugitive resources (water, gas, oil etc.) were settled in the terms of capture by the Fugitive resources (water, gas, oil etc....
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- Fall '08