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Articles 91 - 120 of 172
Full-Text Articles in Property Law and Real Estate
Minority Protection In Residential Private Governments, Stewart E. Sterk
Minority Protection In Residential Private Governments, Stewart E. Sterk
Articles
The article explores the balance between majority rule and minority protections in community associations, drawing parallels with corporate governance to address conflicts and self-dealing issues. It argues that while market forces and self-interest often mitigate harmful majority actions, legal safeguards are necessary to protect minority interests, particularly when idiosyncratic value is at stake. The article advocates for express protections in governing documents and the use of supermajorities to limit association power, emphasizing that courts should invalidate redistributive actions without compensation.
The Hazards Of Tinkering With The Common Law Of Future Interests: The California Experience, Laura E. Cunningham
The Hazards Of Tinkering With The Common Law Of Future Interests: The California Experience, Laura E. Cunningham
Articles
No abstract provided.
The Takings-Puzzle Puzzle, James E. Krier
The Takings-Puzzle Puzzle, James E. Krier
Articles
My aim here is to unpack the regulatory takings problem in a way that suggests why it is intractable. The idea is to reveal some of the different types of ambiguity necessarily entailed in takings cases. Seeing these ambiguities, we readily can understand why the doctrine in this area is so confused and confusing; why there is, in short, a "takings puzzle." To my mind, it is much more difficult to understand why anyone would expect matters to be otherwise. This oddity I call the "takings-puzzle puzzle."
The Cathedral' At Twenty-Five: Citations And Impressions, James E. Krier, Stewart J. Schwab
The Cathedral' At Twenty-Five: Citations And Impressions, James E. Krier, Stewart J. Schwab
Articles
It was twenty-five years ago that Guido Calabresi and Douglas Melamed published their article on property rules, liability rules, and inalienability' Calabresi, then a law professor, later a dean, is now a federal judge. Melamed, formerly a student of Calabresi's, is now a seasoned Washington attorney. Their article-which, thanks to its subtitle, we shall call The Cathedral-has had a remarkable influence on our own thinking, as we tried to show in a recent paper2 This is not the place to rehash what we said then, but a summary might be in order. First, we demonstrated that the conventional wisdom about …
Capture And Counteraction: Self- Help By Environmental Zealots (Allen Chair Symposium 1996: The Future Of Environmental And Land-Use Regulation), James E. Krier
Capture And Counteraction: Self- Help By Environmental Zealots (Allen Chair Symposium 1996: The Future Of Environmental And Land-Use Regulation), James E. Krier
Articles
Self-help is a largely neglected topic in American legal studies.1 With the exception of a survey by a group of law students published a dozen years ago,2 there appears to be little, if anything, in our legal literature that confronts the subject in a systematic way.3 This is so, at least, if one defines self-help as I do. To me, the term refers to any act of bypassing the formal legal system in order to get what one wants.
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Property Rules And Liability Rules: The Cathedral In Another Light, James E. Krier, Stewart J. Schwab
Articles
Ronald Coase's essay on "The Problem of Social Cost" introduced the world to transaction costs, and the introduction laid the foundation for an ongoing cottage industry in law and economics. And of all the law-and-economics scholarship built on Coase's insights, perhaps the most widely known and influential contribution has been Calabresi and Melamed's discussion of what they called "property rules" and "liability rules."' Those rules and the methodology behind them are our subjects here. We have a number of objectives, the most basic of which is to provide a much needed primer for those students, scholars, and lawyers who are …
Marketable Pollution Allowances (Great Lakes Symposium), James E. Krier
Marketable Pollution Allowances (Great Lakes Symposium), James E. Krier
Articles
In March 1993, the EPA auctioned off 150,010 sulfer dioxide emissions permits at the Chicago Board of Trade. The auction brought in $21.4 million and ushered in the Clean Air Act's market-based approach to sulfur dioxide control. Congress created these marketable pollution allowances (MPAs) under Title IV of the Clean Air Act Amendments of 19903 to regulate acid rain pollution. While most MPAs were bought by utilities, to be exchanged as a commodity according to need, some MPAs were removed from the market solely to prevent their use by polluters. The Cleveland-based National Healthy Air License Exchange bought one allowance …
Property Rights: A View From The Trenches, Michael A. Heller
Property Rights: A View From The Trenches, Michael A. Heller
Articles
How do governments create - or in some countries recreate - basic property rights that citizens demand in the transition to a market economy? My first comment, quite briefly, is on the debate within this Symposium on the relationship between constitutional reforms and the emergence of new property regimes. Second, I will comment on the counterintuitive property rights regime that is emerging from the "big bang" - the post-1989 collapse of the old socialist legal order in Central and Eastern Europe and the former Soviet Union and its replacement with a new, market-oriented system of property rights.
Restraints On Alienation Of Human Capital, Stewart E. Sterk
Restraints On Alienation Of Human Capital, Stewart E. Sterk
Articles
No abstract provided.
Competition Among Municipalities As A Constraint On Land Use Exactions, Stewart E. Sterk
Competition Among Municipalities As A Constraint On Land Use Exactions, Stewart E. Sterk
Articles
The article examines the limitations of competition among municipalities in constraining the abuse of land use exactions and impact fees, arguing that while competition provides some checks, it is insufficient to prevent distortions in land markets. It critiques the Tiebout hypothesis, which assumes that intermunicipal competition leads to efficient allocation of public goods, and highlights how monopoly power in certain land uses undermines this theory. The analysis emphasizes the need for legal constraints to address the exploitation of landowners and ensure exactions align with the external costs of development.
Prior Appropriation And The Property Clause: A Dialogue Of Accommodation, Dale Goble
Prior Appropriation And The Property Clause: A Dialogue Of Accommodation, Dale Goble
Articles
No abstract provided.
The Tragedy Of The Commons, Part Two, James E. Krier
The Tragedy Of The Commons, Part Two, James E. Krier
Articles
This symposium is about the idea of "free market environmentalism" in general and the book Free Market Environmentalism, by Terry Anderson and Donald Leal,1 in particular. While I focus chiefly on Anderson and Leal's book, the discussion will necessarily involve the general idea of free market environmentalism as well. The conceit of my tide, which obviously derives from Garrett Hardin's celebrated essay on The Tragedy of the Commons,2 is this: Superficial differences aside, Hardin's essay and Anderson and Leal's book address the same fundamental problem of coordinating human behavior as it affects environmental quality. But both the essay and the …
The (Unlikely) Death Of Property, James E. Krier
The (Unlikely) Death Of Property, James E. Krier
Articles
Is property dead? Thomas Grey has argued that it is.' If he is right, we have an answer to the principal question of this symposium panel, which asks whether regulation and property are allies or enemies. If Professor Grey is right, they are neitherbecause property no longer exists. If he is wrong (as I believe he partly is), then, I argue, regulation and property are allies and enemies alike, and will remain so.
Nollan, Henry George, And Exactions, Stewart E. Sterk
Nollan, Henry George, And Exactions, Stewart E. Sterk
Articles
The article examines the legal and economic implications of exactions, particularly in light of the Supreme Court's decision in Nollan v. California Coastal Commission. While exactions—requirements imposed on developers to provide municipal benefits—can theoretically promote efficiency and fairness, the analysis suggests that their practical implementation by municipalities is fraught with challenges. These challenges include the potential for inefficiency, unfairness, and arbitrary decision-making, which may undermine their effectiveness and raise constitutional concerns. The article argues that the concerns expressed in Nollan and other cases stem from the fear that exaction schemes could lead to inefficient and unfair municipal behavior, as well …
Some Aspects Of Householding In The Medieval Icelandic Commonwealth, William I. Miller
Some Aspects Of Householding In The Medieval Icelandic Commonwealth, William I. Miller
Articles
There has been much, mostly inconclusive, discussion about how to define the household in a manner suitable for comparative purposes. Certain conventional criteria are not very useful in the Icelandic context, where it appears that a person could be attached to more than one household, where the laws suggest it was possible for more than one household to be resident in the same uncompartmentalised farmhouse; and where headship might often be shared. Definitions, for example, based on co residence or on commensalism do not jibe all that well with the pastoral transhumance practised by the Icelanders. Sheep were tended and …
Washington's New Quasi-Community Property Act: Protecting The Immigrant Spouse, Thomas R. Andrews
Washington's New Quasi-Community Property Act: Protecting The Immigrant Spouse, Thomas R. Andrews
Articles
In 1986, Washington followed the lead of several other community property jurisdictions by adopting quasi-community property legislation. The act is designed to prevent a spouse who has onerously acquired property during marriage while the couple resided in a common law state from disinheriting his or her surviving spouse as to that property after moving to Washington. It has significant implications not only for married couples contemplating a move to Washington, but also for those who have moved to Washington from common law jurisdictions in the past. This article explains why the risk of disinheritance arises, describes the provisions of Washington's …
Foresight And The Law Of Servitudes, Stewart E. Sterk
Foresight And The Law Of Servitudes, Stewart E. Sterk
Articles
The article explores the debate over party autonomy in the law of servitudes, particularly focusing on the role of foresight and transaction costs. It argues that while freedom of contract is a foundational principle, the limitations of human foresight and the potential for high transaction costs justify limited judicial intervention to modify or terminate servitudes when circumstances change. The author critiques Professor Epstein's argument that perfect foresight would obviate the need for intervention, emphasizing that real-world contracting parties often fail to anticipate future changes adequately. The article ultimately advocates for a balanced approach that enforces servitudes but allows for judicial …
Neighbors In American Land Law, Stewart E. Sterk
Neighbors In American Land Law, Stewart E. Sterk
Articles
The article critiques the foundational principle of land law known as the "geometric-box allocation," which assumes landowners have absolute control over their property within defined boundaries. While this model provides clarity and facilitates private bargaining, the analysis argues that it often fails to account for externalities, social norms, and bilateral monopoly situations, leading to inefficiencies. The author challenges the assumption that private bargaining will always produce efficient results, particularly in low-transaction-cost scenarios, and highlights the limitations of using intent as a justification for cross-boundary allocations. The article ultimately suggests that land law doctrine reflects and reinforces both individualist and non-individualist …
The Myth Of The Classic Property Clause Doctrine, Dale Goble
The Myth Of The Classic Property Clause Doctrine, Dale Goble
Articles
No abstract provided.
Gift, Sale, Payment, Raid: Case Studies In The Negotiation And Classification Of Exchange In Medieval Iceland, William I. Miller
Gift, Sale, Payment, Raid: Case Studies In The Negotiation And Classification Of Exchange In Medieval Iceland, William I. Miller
Articles
Near the end of Eyrbyggja saga Porir asks Ospak and his men where they had gotten the goods they were carrying. Ospak said that they had gotten them at Pambardal. "How did you come by them?" said Porir. Ospak answered, "They were not given, they were not paid to me, nor were they sold either." Ospak had earlier that evening raided the house of a farmer called Alf and made away with enough to burden four horses. And this was exactly what he told Porir when he wittily eliminated the other modes of transfer by which he could have acquired …
Dancing On The Edge Of Article 9, James J. White
Dancing On The Edge Of Article 9, James J. White
Articles
Despite the fact that Article 9 is a much more comprehensive personal property security statute than was ever found in American law prior to its enactment, cases continue to present issues on the scope of the Article. Gone are the cases in which a court was called upon to determine whether a "conditional sales contract" could be dealt with under the "factor's lien" law; it is now clear that all such personal property security devices are governed by Article 9. Yet many problems remain for the unwary lawyer. I will identify several and deal in detail with three of these …
Surface Water And Nuisance Law: A Proposed Synthesis, Donald L. Burnett Jr.
Surface Water And Nuisance Law: A Proposed Synthesis, Donald L. Burnett Jr.
Articles
No abstract provided.
Solar Access And Property Rights: Reply To A Maverick Analysis, Dale Goble
Solar Access And Property Rights: Reply To A Maverick Analysis, Dale Goble
Articles
No abstract provided.
The Estate Tax Marital Deduction, Harold Dubroff, Douglas A. Kahn
The Estate Tax Marital Deduction, Harold Dubroff, Douglas A. Kahn
Articles
The estate tax marital deduction, section 2056 of the Internal Revenue Code, was enacted in 1948, along with the split-income provisions of the income tax law and the marital deduction and split-gift provisions of the gift tax law. The purpose was to give married residents of common law states approximately the same federal tax advantages that were available to married residents of community property states. Ordinarily, upon the death of a married resident of a community property state, only one-half of the community property is taxed in the decedent's estate. Section 2056 achieves approximately the same result for married residents …
Transactions Subject To Gift Tax, Douglas A. Kahn, Earl M. Colson
Transactions Subject To Gift Tax, Douglas A. Kahn, Earl M. Colson
Articles
The gift tax is imposed on the "transfer of property by gift." The term gift is not expressly defined either in the Code or in the Treasury Regulations. However, section 2512(b), dealing with the valuation of gifts, states that "where property is transferred for less than an adequate and full consideration in money or money's worth," the difference between the value of the property transferred and the consideration received constitutes a gift. Thus, for gift tax purposes, the determination of whether a gift was made does not turn so much on the intent of the transferor as it does on …
Joint Tenancies And Tenancies By The Entirety In Michigan—Federal Gift Tax Considerations, Douglas A. Kahn
Joint Tenancies And Tenancies By The Entirety In Michigan—Federal Gift Tax Considerations, Douglas A. Kahn
Articles
The establishment of joint tenancy' ownership of property, or the termination of such a tenancy, may have federal gift tax consequences to the co-owners of the property. Consequently, the gift tax is a factor to be weighed before embarking on either of these ventures. The gift tax consequences are determined by the nature of the property rights enjoyed by the joint tenants under the controlling state property law, and accordingly it is desirable, where Michigan property law is applicable, to consider the Michigan law and the significance of that law to the operation of the gift tax. However, before discussing …
Evolving Judicial Attitudes Toward Local Government Land Use Control, Terrance Sandalow
Evolving Judicial Attitudes Toward Local Government Land Use Control, Terrance Sandalow
Articles
The year 1967 begins the second half-century of zoning in the United States. The first comprehensive zoning ordinance was adopted by New York City in 1916. In the fifty years that have elapsed, zoning has become, notwithstanding a growing disenchantment with it on the part of planners, the most widely employed technique of land use control in the United States. At the present time only Houston, of all the major cities in the United States, lacks a zoning ordinance. And, though I have not obtained precise figures, we are all familiar with the increasingly large per centage of small municipalities, …
Rights Of Finders, Ralph W. Aigler
Rights Of Finders, Ralph W. Aigler
Articles
Much of the confusion and uncertainty in the law regarding the topic indicated above is due to a failure to distinguish between several types of situations and to appreciate the applicability of certain fundamental principles. The words "lost" and "find" are used in such widely varying senses that the all too common method of reaching a conclusion by first applying a name to a thing or situation has in this particular field led to special difficulty.
Perpetuity Statutes, Edwin C. Goddard
Perpetuity Statutes, Edwin C. Goddard
Articles
THE common law of perpetuities is one of the most interesting examples of almost pure judicial legislation. De Donis, The Statutes of Uses and of Wills, but gave wider scope to the development by the courts of rules of law to thwart the attempt of the great landowners to tie up their landed estates in their families in perpetuity. One body of rules to this end limited restraints upon alienation, another the creation of future interests vesting at too remote a period. Restriction of restraints upon alienation, and the rule against perpetuities, these two were developed for the same end, …
Rights Of Finders, Ralph W. Aigler
Rights Of Finders, Ralph W. Aigler
Articles
Much of the confusion and uncertainty in the law regarding the topic indicated above is due to a failure to distinguish between several types of situations and to appreciate the applicability of certain fundamental principles. The words "lost" and "find" are used in such widely varying senses that the all too common method of reaching a conclusion by first applying a name to a thing or situation has in this particular field led to special difficulty.