Law Commons^™

“Fair Enough”? Revising The Yellowstone Injunction To Fit New York’S Commercial Leasing Landscape And Promote Judicial Economy, Gabriel W. Block

Brooklyn Journal of Corporate, Financial & Commercial Law

The Yellowstone injunction is an equitable remedy that tolls any applicable cure period and gives tenants a better opportunity to maintain their leasehold when they have defaulted under their lease. The remedy is available to commercial tenants in New York City and to commercial and residential tenants throughout the State. This Note examines the Yellowstone injunction in the context of New York City’s commercial tenants, who employ it most frequently and benefit most from its protections. This Note examines the development and application of the Yellowstone injunction and proposes changing the doctrine to exclude cases of monetary defaults and expired …

Discounts For Fractional Ownership Of Real Property Are Accepted, So Why Haven’T The Irs And Courts Accepted Discounts For Fractional Ownership Of Artwork?, Maren N. Eisenmesser

Brooklyn Journal of Corporate, Financial & Commercial Law

In 2014, the Fifth Circuit held that Mr. Elkins’s estate was entitled to apply a fractional ownership discount to determine the taxable value of the undivided interest in artwork. The estate received a $14 million refund plus interest. The Internal Revenue Code directs taxpayers to value the items in a gross estate at their fair market value. Fractional ownership adds another problem in the valuation of an estate’s interest property. In general, courts have accepted fractional ownership discounts for real property. In contrast, courts have been reluctant to apply a fractional ownership discount for artwork. This Note will argue that …

Between Scylla And Charybdis: Maritime Liens And The Bankruptcy Code, Ian T. Kitts

Brooklyn Journal of Corporate, Financial & Commercial Law

Federal courts have had trouble fitting maritime law into the bankruptcy scheme created by the Bankruptcy Code (the Code). Particularly troublesome have been vessel-arrest proceedings that are underway when the vessel’s owner files for bankruptcy. Prior to the enactment of the Code, courts applied the doctrine of custodia legis to decide whether the admiralty or the bankruptcy court would administer the vessel. Since the Code was enacted, courts have generally held that the bankruptcy court gained control. A recent Ninth Circuit decision, however, split with other circuits and seems to have revived custodia legis. This Note argues that the Ninth …

Legal And Regulatory Framework For The Mortgage Industry In Nigeria, Kehinde Ogundimu

Economic and Financial Review

This article examines the legal and regulatory framework for the mortgage industry in Nigeria. The article examines the concept of housing as a global need and provides an overview of the Nigerian Housing Market with a population of 183 million people and increasing rapidly, a huge housing deficit of around 17 million units. This is further compounded by a rapid rising need for housing by about 20 per cent a year in cities like Lagos, Ibadan, Kano, and Abuja. At least 700,000 housing units across different segments are needed annually to keep up with demand, whereas, production was around 100,000 …

The Land Use Act And The Nigerian Housing Sector, Yusuf Yahaya

Economic and Financial Review

The article discusses the Land Use Act and the and how it has affected developments in the Nigerian housing sector. Prior to the Land Use Act, all the existing tenure systems encouraged land holding without an obligation to develop them, fragmentation and uncoordinated alienation, hoarding speculatively for value appreciation and without precise documentation. Consequently, the Land Use Act was enacted to: make land easily accessible to all Nigerians; prevent speculative purchases of communal land; streamline and simplify the management and ownership of land; make land available to government at all levels for development; provide the system of government administration of …

Community Consequences Of Airbnb, Allyson E. Gold

Washington Law Review

Short-term rental accommodations account for more than 20% of the United States lodging market, with annual sales now greater than those of nearly all legacy hotel brands. The rise of companies like Airbnb has created a booming market that provides affordable short-term rentals for travelers and new income for those with an extra couch, spare room, or even an unused home. However, while individual hosts and guests may benefit economically, the use of short-term rentals produces significant consequences for the surrounding community. Airbnb proliferation causes fewer affordable housing options, higher average asking rents, and erosion of neighborhood social capital. Due …

Empowering The Poor: Turning De Facto Rights Into Collateralized Credit, Steven L. Schwarcz

Notre Dame Law Review

The shrinking middle class and the widening gap between rich and poor threaten social and financial stability. Though sometimes identified as a problem of developing nations, the inability of the poor to obtain credit by using their de facto rights in property as collateral impedes upward mobility in nearly all countries, including the United States. Efforts to solve this problem have focused on trying to transform de facto rights into de jure title under property law. Those efforts have been unsuccessful because, among other reasons, property law is tightly bound to tradition and protecting vested ownership. This Article proposes an …

Shoring Up The Hear Act: Proposed Amendments To Federal Legislation Designed To Assist Heirs And Claimants Of Nazi-Looted Art, Alexander Hull

Journal of Law and Policy

From 1933 to 1945, Nazi German forces executed a mass campaign of property confiscation, stealing as many as 600,000 pieces of art, including paintings, tapestries and sculptures from museums and private collections across Europe. It is estimated that some 300,000 pieces of art are still missing or are currently in the possession of someone other than the so-called “true” owner, based on reviews of Nazi documentation conducted by the Jewish Restitution Organization. While Nazi art looting has been regarded as “dehumanizing,” “self-advancing” and concomitant with the Nazi regime’s larger genocidal crusade, restitution in this context has been framed as a …

Virginia Uranium, Inc. V. Warren, Nyles G. Greer

Public Land & Resources Law Review

The Supreme Court of the United States recently ruled that the Atomic Energy Act did not preempt a Virginia law prohibiting uranium mining in the Commonwealth. The Court held that although the Act delegated substantial power over the nuclear life cycle to the Nuclear Regulatory Commission, it offered no indication that Congress sought to strip states of their traditional power to regulate mining on private lands within their borders.

When (And Why) The Levee Breaks: A Suggested Causation Framework For Takings Claims That Arise From Government-Induced Flooding, Charles D. Wallace

William & Mary Law Review

In 1968, the United States Army Corps of Engineers finished constructing the seventy-six-mile Mississippi River-Gulf Outlet (MR-GO) navigational channel. Congress authorized the Army Corps of Engineers to begin construction to create a shipping route between New Orleans and the Gulf of Mexico. However, the MRGO also caused significant erosion and other environmental detriments that greatly increased the risk of flooding around its vicinity. The Army Corps of Engineers learned about many of these detriments and risks through numerous studies it conducted between 1998 and 2005, but never fully addressed them.

Hurricane Katrina eventually showcased the MR-GO’s defects in violent fashion. …

From Animal Control To Zoning: 2019 Local Government Law Update, Tyler C. Southall

University of Richmond Law Review

The goal of this Article is to review significant recent developments in Virginia local government law. First, this Article discusses a number of Supreme Court of Virginia and Fourth Circuit Court of Appeals cases published between July 1, 2018 and July 1, 2019. These cases involve questions of the First Amendment and social media, the First Amendment and employment law, attorney client privilege and Freedom of Information Act requests, vested rights issues in zoning ordinances, the powers of the Virginia State Corporation Commission, and public finance. Second, this Article addresses new laws from the 2019 General Assembly. It is impossible …

Property Beyond Exclusion, Lee Anne Fennell

William & Mary Law Review

Property rights have long been associated with a simple and distinctive technology: exclusion. But technologies can become outdated as conditions change, and exclusion is no exception. Recent decades have featured profound changes that have made exclusion a less useful, less necessary, and more expensive way of regulating access to resources. This Article surveys the prospects for a post-exclusion understanding of real and personal property. It proceeds from the premise that property is built upon complementarities, the nature and scale of which have undergone seismic shifts. Physical boundaries and lengthy claims on resources are designed to group complementary elements together in …

Unlimited Liability For Banks: Deposits As Fraudulent Transfers, Katherine Zampas

St. Mary's Law Journal

One of a trustee’s most valuable resources in bankruptcy proceedings is his avoidance powers. A trustee is charged with the duty to recover and recapture any property wrongfully removed from the estate by way of fraudulent transfer or preference. In some cases, a trustee has attempted to treat a debtor’s deposit into a bank account as a transfer, rendering it subject to his avoidance powers. Such a result will leave banks collaterally responsible as a transferee for a debtor’s conduct despite their lack of culpability and control over the funds.

The definition of transfer within the Bankruptcy Code is comprehensive …

Lee Hargis Lytton Iii: A Most Extraordinary, Interesting And Instructive Life, Robert Summers

St. Mary's Law Journal

Tribute to Lee Hargis Lytton III, a professor at St. Mary's University School of Law in San Antonio, Texas.

American Legion V. American Humanist Association, Seth T. Bonilla

Public Land & Resources Law Review

The separation of church and state is a key element of American democracy, but its interpretation has been challenged as the country grows more diverse. In American Legion v. American Humanist Association, the Supreme Court adopted a new standard to analyze whether a religious symbol on public land maintained by public funding violated the Constitution’s Establishment Clause.

Dr. Jekyll & Mr. Holmes: A Tale Of Two Testaments, Stephen R. Alton

South Carolina Law Review

No abstract provided.

The State Of Exactions, Timothy M. Mulvaney

William & Mary Law Review

In Koontz v. St. Johns River Water Management District, the Supreme Court slightly expanded the range of land use permitting situations in which heightened judicial scrutiny is appropriate in a constitutional “exaction” takings case. In crafting a vision of regulators as strategic extortionists of private property interests, though, Koontz prompted many takings observers to predict that the case would provide momentum for a more significant expansion of such scrutiny in takings cases involving land use permit conditions moving forward, and perhaps even an extension into other regulatory contexts, as well.

Five years on, this Article evaluates the extent to which …

Not Everybody Loves Raymond: How The Case Of Raymond V. Raymond Made A Shambles Of Interspousal Gift Presumptions And The Parol Evidence Rule In Matters Of Texas Community Property, Pamela E. George

St. Mary's Law Journal

Abstract forthcoming

Table Of Contents, Seattle University Law Review

Seattle University Law Review

No abstract provided.

David V. Goliath: How The Replacement Of A Commercial Real Estate Agent's Common Law Duty Of Undivided Loyalty With Washington State's More-Limited Statutory Obligations Advantages Landlords To The Detriment Of Commercial Tenants, Peter Smirniotopoulos, Ryan Mathisen

Seattle University Law Review

As the fastest-growing urban area in the United States—and due to its emerging national influence in commercial real estate development and leasing through transformational transactions such as Amazon’s recently completed national HQ2 search—the City of Seattle and related Washington State laws addressing the use of dual agency in commercial transactions present a unique backdrop for examining the findings and recommendations from a 2014 commercial real estate conflicts of interest research study and attendant report, described below, more than four years after its publication. In November 2014, a published research study report made a number of key observations about the existence …

The Co-Tenancy Act And The Modernization Of West Virginia’S Oil And Gas Law, Jack Budig

West Virginia Law Review

No abstract provided.

A Tenant’S Fate In The Mountain State: What State Ex Rel Morrisey V. Copper Beech Townhome Communities Means For Tenants As Consumers, Emily Ann Cramer

West Virginia Law Review

No abstract provided.

"Body" Building: Expanding Arkansas's Standard For Holographic Wills, Andrew L. Lawson

Arkansas Law Review

In times past, entirely handwritten documents represented the vast majority of holographic wills. These homemade testaments included dense pages of text that the drafter diligently memorialized by hand, carefully crafted letters with testamentary directions to the author’s loved ones, and unassuming notes tucked away in a drawer, perhaps with names, proportions, and shorthand property descriptions. If a probate court encountered a holographic testament, odds were that it resembled these traditional examples.

The Short-Term Rental Economy In Rural Maine Communities: An Opportunity For Economic Growth Instead Of A Target For Regulation, Nicholas E. Anania

Maine Law Review

State and local governments across the country are grappling with the rise of short-term housing rentals and how to enact effective regulation regarding their use. The increase of short-term rentals (STRs) is almost entirely the result of online platforms that make STRs easy, efficient, and accessible. While STRs undoubtedly have positive economic outcomes for both property owners and local economies, there are also many negative repercussions which must be effectively regulated. Regulation in this area reflects differing priorities and viewpoints of states and municipalities. Specifically, rural Maine municipalities, many of which are popular seasonal destinations, face not only the challenges …

Brigham-Kanner Property Rights Journal, Volume 8, William & Mary Law School

Brigham-Kanner Property Rights Journal

The Federalism Dimension of Constitutional Property

October 4-5, 2018

Panel 1: The Federalism Dimension of Constitutional Property: A Tribute to Sterk

Panel 2: Background Principles of Common Law and Constitutional Property

Lunch Roundtable: Other Emerging Issues in Constitutional Protection of Property

Panel 4: The Constitutionality of Land Use Exactions

Contributing Author (Reveley)

A Georgist Perspective Of Petroleum Taxation, Joseph Leeson

Indiana Journal of Global Legal Studies

Over a century ago, the town of Arden, Delaware, was founded on a unique single-tax-community system that radically altered the popular concept of land ownership. This system was premised on concepts developed by a man few know today but who was a major figure in economics during the 1800s, Henry George. George's public finance theory has been described as having received "intermittent attention over the years, with many eminent names in economics making at least a passing comment, but it has seen comparably little action in the policy debate arena and has been largely ignored by the modern era of …

Reconceptualizing Entrenched Notions Of Common Law Property Regimes: Maori Self-Determination And Environmental Protection Through Legal Personality For Natural Objects, Bridget Williams

Buffalo Environmental Law Journal

No abstract provided.

The Idea Of Property: A Comparative Review Of Recent Empirical Research Methods, Paul T. Babie, Peter D. Burdon Mr, Francesca Da Rimini, Cherie M. Metcalf Prof., Geir Stenseth

Indiana Journal of Global Legal Studies

While theory offers important insights into property's normative content, it sometimes fails to tell us about what people understand property to mean and how they interact with those things said to be owned by them. This has significant implications for some of the challenges facing humanity, including climate change, unequal distributions of wealth and resources, biodiversity loss, and innovation. In response, a growing body of literature is emerging that looks at property through a different lens; rather than theorizing property in an abstract way or attempting to craft a normative account of and justification for the institution, this new scholarship …

Still Standing, Barely: Bank Of America Corp. V. City Of Miami And The Impact On Fair Lending Litigation, Trevor C, Hoffberger

Maryland Law Review

No abstract provided.

Municipal Annexation Reform In Texas: How A Victory For Property Rights Jeopardizes The State’S Financial Health, Julie Polansky Bell

St. Mary's Law Journal

Municipal annexation is the expansion of city boundaries. The greatest motivator behind municipal annexation is maintaining and improving economic prosperity of the annexing authority. The issue of annexation involves a balance of rights between property owners and municipalities of the state. Historically, Texas cities had broad annexation authority under an involuntary annexation scheme. However, in recent years the power has shifted as lawmakers have given property owners greater control over the annexation process. This trend culminated in the passage of the Municipal Annexation Right to Vote Act (MARVA) by the 85th Texas Legislature, which severely limits annexation authority.

Texas municipalities …