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Full-Text Articles in Law
What Property Does, Christopher Serkin
What Property Does, Christopher Serkin
Vanderbilt Law School Faculty Publications
For centuries, scholars have wrestled with seemingly intractable problems about the nature of property. This Article offers a different approach. Instead of asking what property is, it asks what property does. And it argues that property protects people’s reliance on resources by moderating the pace of change. Modern scholarly accounts emphasize voluntary transactions as the source and purpose of reliance in property. Such “transactional reliance” implies strong, stable, and enduring rights. This Article argues that property law also reflects a very different source of reliance on resources, one that rises and falls simply with the passage of time. This new …
The New Politics Of New Property And The Takings Clause, Christopher Serkin
The New Politics Of New Property And The Takings Clause, Christopher Serkin
Vanderbilt Law School Faculty Publications
This Essay offers a broad gloss on the traditional politics of property protection and then catalogues a number of ways in which those politics have been changing. In many cases, the account is of fragmentation and fracture as once stable commitments have become much more contingent and fact dependent.' Admittedly, this characterization paints with an extremely broad brush. That is both its contribution and its weakness. This short Essay deliberately simplifies the characterization of preferences across the political spectrum. Much more nuanced definitions would better track the complexity of the underlying issues. Judges and scholars discussed below might also object …
Penn Central Take Two, Christopher Serkin
Penn Central Take Two, Christopher Serkin
Vanderbilt Law School Faculty Publications
Penn Central v. New York City is the most important regulatory takings case of all time. There, the Supreme Court upheld the historic preservation of Grand Central Terminal in part because the City offset the burden of the landmarking with a valuable new property interest—a transferable development right (TDR)—that could be sold to neighboring property. Extraordinarily, 1.2 million square feet of those very same TDRs, still unused for over forty years, are the subject of newly resolved takings litigation. According to the complaint, the TDRs that saved Grand Central were themselves taken by the government, which allegedly wiped out their …
Symposium: The Role Of Federal Law In Private Wealth Transfer, Jeffrey Schoenblum
Symposium: The Role Of Federal Law In Private Wealth Transfer, Jeffrey Schoenblum
Vanderbilt Law School Faculty Publications
Increasingly, federal law impacts court decisions involving private wealth transfer. Increasingly, federal law is the central consideration in premortem and postmortem planning for private wealth transfer. Despite this, until recently, little scholarly attention has been paid to this phenomenon; the assumption regarding the centrality of state law, quoted above, having gone largely unquestioned. But now that the "sleeping giant" has awakened, the role that federal law plays in private wealth transfer requires serious and comprehensive academic consideration.
Existing Uses And The Limits Of Land Use Regulations, Christopher Serkin
Existing Uses And The Limits Of Land Use Regulations, Christopher Serkin
Vanderbilt Law School Faculty Publications
This Article identifies property law's special protection for existing uses, explores possible justifications for this protection, and argues that none can support the strong protection that existing uses currently enjoy. Various land use doctrines- from zoning to the vested rights doctrine to amortization rules for prior noncon- forming uses--assume that the government cannot eliminate existing uses without paying compensation. The Article asks whether this result is compelled either by constitutional rules or by normative considerations. Neither the Takings Clause nor the Due Process Clause requires this level of protection for existing uses. Norma- tively, many obvious-seeming justifications dissolve on closer …
Local Property Law: Adjusting The Scale Of Property Protection, Christopher Serkin
Local Property Law: Adjusting The Scale Of Property Protection, Christopher Serkin
Vanderbilt Law School Faculty Publications
This Article proposes that local governments should be able to decide for themselves how to protect private property, and then be held to that choice as if it were a local constitutional pre-commitment. Specifically, the Article proposes state enabling legislation to create a mechanism for local pre-commitments around the most contested takings and land use issues, like the meaning of public use, the extent of just compensation, the diminution of value that triggers compensation, and others. The resulting local variation in property regimes would allow consumers - homeowners, developers, and any other property owners - to select the property protection …
Public Ruses, Christopher Serkin, James E. Krier
Public Ruses, Christopher Serkin, James E. Krier
Vanderbilt Law School Faculty Publications
The Fifth Amendment's public use requirement - a dead letter for decades - has recently been resurrected by the Michigan Supreme Court, overruling Poletown, and by the United States Supreme Court, granting certiorari in Kelo v. City of New London. At issue in these cases is the government's ability to condemn property from one private property owner and retransfer it to another, usually with a justification of more-or-less indirect economic benefits to the community. This Essay first argues the legitimacy of these government actions exists on a spectrum from true public uses, to public ruses that primarily benefit private interests …