Law

1
Law

• Native American
• African
• Dutch
• French
• Spanish
• English
• Common law
• Statutory law

2
Property

• Bundle of rights
• Possess
• Use
• Exclude others
• Pledge
• Divide
• Alienate
• Freedom individual v. group

3
Property

• Physical Intangible

Height
Power Limitations
Width
Length
Time
Present Interest Future Interest
4
Property

• Estate
• Quantity
• Interest
• Nature and Extent
• Title
• Evidence of right
• Quality

5
Fee Simple Absolute

• A to B and his heirs.
• words of purchase or grant
• words of limitation

6
Defeasible Fee

• Fee Simple Determinable
• Possibility of Reverter (automatic)
• so long as, until
• A to B and his heirs, so long as X is used for
  church purposes.

7
Defeasible Fee

• Fee simple on/subject to a condition subsequent
• Right of Entry (power of termination)
• but if, upon condition that
• A to B and his heirs, but if use of X for church
  purposes ceases, A and his heirs may enter
  terminate estate granted

8
Defeasible Fee

• Forfeiture v. Covenant
• Zoning

9
Life Estate

• A to B for life
• Reversion
• per autre vie
• term of years
• Remainder
• successive terms and Rule Against Perpetuities
• Executory Interests

10
Remainder

• a. Vested
• A to B for life, remainder to C.
• b. Contingent
• A to B for life, remainder to C if then living.
• A to B for life, remainder to C if then living,
  if not to D.
• A to B for life, remainder to C if attains age
  35, if not, to D.