Law Commons^™

Theft Of The American Dream: New York City's Third-Party Transfer Program, Joseph Mottola

St. John's Law Review

(Excerpt)

On September 5, 2018, Paul Saunders discovered a notice on the front door of his mother’s home: it stated that the property, a Brooklyn brownstone owned by the family for over forty years, now belonged to a company called Bridge Street. His mother, seventy-four-year-old retired nurse Marlene Saunders, had been notified several months earlier that her home, valued at two million dollars, was in danger of being foreclosed because she owed New York City (the “City”) $3,792 in unpaid water charges. Her son had already paid the water bill, but when he contacted the water department, he discovered that …

Property And Prosperity, A Demythifying Story, Xiaoqian Hu

St. John's Law Review

(Excerpt)

Economic development is fundamentally a property law story. Prominent thinkers―from Adam Smith and Jeremy Bentham, to Douglass North and Richard Posner―tell us that protection of private property rights is essential for economic growth and wealth accumulation. Clear and freely alienable property rights reduce transaction costs and allow private bargaining to produce efficient results. Property rights allow owners to internalize the costs and benefits of their own behavior, reduce production costs, and encourage innovation. Secure property rights protect owners from arbitrary confiscation by the government, foster owner expectations, and facilitate investment, trade, and the development of financial markets. The idea …

Property As Rent, Faisal Chaudhry

St. John's Law Review

(Excerpt)

What is property? Over the course of the past two decades, legal scholars have reopened this question in a highly visible and often fractious way. On one side of the renewed debate are those who have sought to restore an object-centered model of property as an in rem right to exclude; on the other are those who have sought to reorient the old adage that property is a “bundle of sticks” toward a new emphasis on property’s role in forging social relations and democratic community. Sometimes known as a split between the “ownership” versus “progressive property” models, as fruitful …

Yesterday I Was Lying: Creeping Preclusion Of Reciprocal Fee Awards In Residential Foreclosure Litigation, Eric A. Zacks, Dustin A. Zacks

St. John's Law Review

(Excerpt

As a result of the high volume of foreclosure litigation in the wake of the Great Recession, scholars have explored several outgrowths of the foreclosure crisis, developing a burgeoning body of research. Scholars and commentators have authored studies about a wide variety of foreclosure-related topics, ranging from the disparate racial effects of the housing crisis to the many legislative and court-instituted policies enacted to ameliorate the harsh reality faced by financially distressed homeowners, all the way through books examining the aftermath of the crisis and lessons learned from the entire experience.

Our previous contributions to this evolving body of …

Grounding Land Reform: Toward A Market-Compatible Approach To Land Reform, Shelley Cavalieri

St. John's Law Review

(Excerpt)

This Article begins the project of constructing a unified account of land reform. This model consists of two central aspects. First, it articulates a set of goals, both practical and expressive, that redistributive land reform efforts can forward. Second, it offers a pragmatic theory of land reform, one that simultaneously achieves the progressive, poverty-eradication goals of land reform proponents and satisfies neoliberal demand for stable land markets. In this regard, the project offers a fresh way of thinking of the intractable conflict in land reform policy: how to redistribute land without destabilizing the nation. In addressing this problem, the …

Decoupling The Law Of Will-Execution, Mark Glover

St. John's Law Review

(Excerpt)

This Article proceeds in four parts. Part I explains the context of reform, including the traditional law of will-execution, the criticism of strict compliance, and the reform movement. Next, by explaining the purpose of testamentary formality, Part II serves as the foundation for decoupling the analysis of will formalities from the analysis of strict compliance. Part III completes the process of decoupling the law of will-execution by examining the purpose of strict compliance. Finally, Part IV explores the implications that the recognition of the independent purposes of will formalities and strict compliance has for the law of wills. Specifically, …

New York's Property Condition Disclosure Act: Extensive Loopholes Leave Buyers And Sellers Of Residential Real Property Governed By The Common Law, Philip Lucrezia

St. John's Law Review

No abstract provided.