Law Commons^™

Bargaining For Takings Compensation, Abraham Bell, Gideon Parchomovsky

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Efficiency and fairness require paying full compensation to property owners when their property is taken by eminent domain. Yet, to date, the evidentiary challenge of proving subjective value has proved insurmountable, and current law requires condemnees to settle for fair market value. This Article proposes a self-assessment mechanism that can make full compensation at subjective value practical. Under our proposal, property owners must be given the opportunity to state the value of the property designated for condemnation. Once property owners name their price, the government can take the property only at that price. However, if the government chooses not to …

"Sovereignty" Issues And The Church Bankruptcy Cases, David A. Skeel Jr.

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No abstract provided.

A Theory Of Property, Abraham Bell, Gideon Parchomovsky

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Notwithstanding its importance, property law has eluded both a consistent definition and a unified conceptual framework. Indeed, modern property scholarship has utterly splintered the field. On the one hand, instrumentalists view property as nothing more than default contract rules. On the other hand, conceptualists proclaim the primacy of in rem, rights and specially privileged rights such as the rights to exclude, to use, and to transfer. Still other legal scholars think of property as a "bundle of sticks" capable of assuming any shape or form.

This Article proposes a unified theory of property predicated on the insight that property law …

Of Property And Federalism, Abraham Bell, Gideon Parchomovsky

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This Essay proposes a mechanism for expanding competition in state property law, while sketching out the limitations necessary to protect third parties. The fact that property law is produced by the states creates a unique opportunity for experimentation with such property and property-related topics as same-sex marriages, community property, adverse possession and easements. The Essay begins by demonstrating the salutary effects of federalism on the evolution of property law. Specifically, it shows that competition among states has created a dynamic property system in which new property institutions replace obsolete ones. The Essay then contemplates the possibility of increasing innovation and …