United States v. 1500 Lincoln Avenue - p. 392 Rule- if property is used to commit or facilitate a drug offense, the statute calls for forfeiture of any interest in that property except for the interest of an innocent owner. Drug Abuse Prevention and Control Act p. 397 • provides for a civil forfeiture proceedings in rem. Upon proof that the property is used in an illegal drug transaction, the property itself is forfeited, except for any interest in an innocent owner. • A federal tax lien does not attach to a tenancy by the entirety if only one spouse owes tax and state law prevents creditors from proceeding against a tenancy by the entirety. The federal government is treated like an ordinary creditor. b. Termination of Marriage by Divorce • At common law, upon divorce property of the spouses remained the property of the spouse holding title. Property held by the spouses as tenants in common or as joint tenants remained in such co-ownership. Because the unity of marriage was severed by divorce, property held in tenancy by the entirety was converted into a tenancy in common. 47
Equitable distribution- property is divided by the court, in its discretion, on equitable principles. The concept of fault is sometimes expressly included, or ignored, or expressly excluded as a factor to guide equitable division. Marital property- in some states it includes all property acquired during marriage by whatever means (earnings, gifts, or inheritances); in others it includes only property acquired from earnings of either spouse during marriage. In re Marriage of Graham - an educational degree is not encompassed in the broad views of the concept of “property” . It does not have an exchange value or any objective transferable value on an open market. It is personal to the holder. It terminates on death of the holder and is not inheritable. It cannot be assigned, sold, transferred, conveyed, or pledged. It may not be acquired by the mere expenditure of money. It is simply an intellectual achievement that may potentially assist in the future acquisition of property. EXCEPTION (to the rule) : Elkus v. Elkus - p. 408 Rule - an interest in a profession or professional career potential is marital property which may be represented by direct or indirect contributions of the non- title-holding spouse, including financial contributions and nonfinancial contributions made by caring for the home and the family. • Things of value acquired during marriage are marital property even though they may not fall within the scope of traditional property concepts. The statutory definition does not mandate that it be an asset with an exchange value or be salable, assignable, or transferable. c. Termination of Marriage by Death of One Spouse (1) Common Law Dower- at common law, the right of a wife, upon her husband’s death, to a life estate in one-third of the land that he owned in fee.
You've reached the end of your free preview.
Want to read all 50 pages?
- Spring '02
- Fee simple, Property Possession