Property Law and Real Estate Commons^™

The Misplaced Flight To Substance, Thomas W. Merrill

Faculty Scholarship

Courts and commentators have struggled for years to come up with a substantive test for what kinds of condemnations are for a "public use." Does public use mean government ownership and control of property after it is taken? This would preclude delegation of eminent domain to common carriers and utilities. Does public use mean public access to the property after it is taken? This would preclude using eminent domain to acquire facilities off-limits to the public, like prisons.

Faced with these problems of under-inclusion, courts have gravitated to the idea that public use means public purpose. The U.S. Supreme Court …

Conflicts In Property, Hanoch Dagan, Michael A. Heller

Faculty Scholarship

Property concerns conflicts – both conflicts between individuals and conflicts of interest. Conflicts between individuals have long been the paradigmatic property focus. According to this view, property debates circle around issues of autonomy and productive competition. But this is an impoverished view. In this Article, we shift attention to conflicts of interest. By helping people manage conflicts of interest, a well-governed property system balances interdependence with autonomy and productive cooperation with productive competition. We identify three mechanisms woven throughout property law that help manage conflicts of interest: (1) internalization of externalities; (2) democratization of management; and (3) de-escalation of transactions. …

Connecticut: Ace Equip. Sales, Inc. V. Buccino, Michael J. Graetz

Faculty Scholarship

Ace Equip. Sales, Inc. v. Buccino, 869 A.2d 626 (Conn. 2005) (reversing adoption of the civil law rule that afforded an inherent riparian right by virtue of abutting property ownership).

Private Law And Public Stakes In European Integration: The Case Of Property, Daniela Caruso

Faculty Scholarship

In European legal discourse, the old public/private divide is experiencing a revival and a transformation. Member States used to claim autonomy in private law matters. Now private law is subsumed into a functionalist logic and can presumptively be harmonised if so demanded by the goal of market integration. States or local constituencies can only resist harmonisation by highlighting the connection between their private laws and those ‘public’ matters still immune from Europeanisation. Property law can effectively illustrate this phenomenon. The written pledge of non-interference with States’ property systems, restated both in the TEC and in the draft Constitution, cannot be …

The Barry Bonds Baseball Case - An Empirical Approach - Is Fleeting Possession Five Tenths Of The Ball?, Peter Adomeit

Faculty Scholarship

Mr. Barry Bonds hit his record seventy-third home run on October 7, 2001. Mr. Alex Popov was smart enough to be in the standing room only area at San Francisco's Pacific Bell Park behind the right field bleachers known as the Arcade, where Mr. Bonds had hit many of his home runs. Mr. Popov was lucky enough to be located almost precisely where the ball was hit, needing only to take one step back. He also had brought a softball glove to the park, as well as a small earbud radio on which he could listen to the play-by-play of …

Modeling A Response To Predatory Lending: The New Jersey Home Ownership Security Act Of 2002, David Reiss, Baher Azmy

Faculty Scholarship

No abstract provided.

Uniform Real Property Electronic Recording Act (Last Revised Or Amended In 2005), Arthur Gaudio , Reporter

Faculty Scholarship

The status of electronic information technology has progressed rapidly in recent years. Innovations in software, hardware, communications technology and security protocols have made it technically feasible to create, sign and transmit real estate transactions electronically. However, approaching the end of the 20^th Century, various state and federal laws limited the enforceability of electronic documents. In response, the Uniform Electronic Transactions Act (UETA) was approved by the National Conference of Commissioners on Uniform State Laws (NCCUSL) in 1999. As of October 1, 2004, UETA had been adopted in 46 states, the District of Columbia, and the U.S. Virgin Islands. The …

The Origins Of The American Public Trust Doctrine: What Really Happened In Illinois Central, Joseph D. Kearney, Thomas W. Merrill

Faculty Scholarship

The public trust doctrine has always been controversial. The general rule in American law favors ownership of natural resources as private property. The public trust doctrine, a jarring exception of uncertain dimensions, posits that some resources are subject to a perpetual trust that forecloses private exclusion rights. For environmentalists and preservationists who view private ownership as a source of the degradation of our natural and historical resources, the public trust doctrine holds out the hope of salvation through what amounts to a judicially enforced inalienability rule that locks resources into public ownership. For those who view private property as the …

Information Costs In Patent And Copyright, Clarisa Long

Faculty Scholarship

Why do we have more than one form of intellectual property rights? Why are the structures of the patent and copyright forms so different? What determines the optimal structure of each form? The conventional theory of intellectual property rights posits that such rights exist to stimulate the creation and distribution of intellectual goods.1 Alternatively, theories of personhood justify intellectual property rights on the grounds that they protect objects through which authors and inventors have expressed their “wills,” which is central to self-definition and personhood, or that they create social conditions supportive of creative intellectual activity, which in turn is conducive …

Private Property And The Politics Of Environmental Protection, Thomas W. Merrill

Faculty Scholarship

Private property plays two opposing roles in stories about the environment. In the story favored by most environmentalists, private property is the bad guy. It balkanizes an interconnected ecosystem into artificial units of individual ownership. Owners of these finite parcels have little incentive to invest in ecosystem resources and every incentive to dump polluting wastes onto other parcels. Only by relocating control over natural resources in some central authority like the federal government, can we make integrated decisions designed to preserve the health of the entire ecosystem. For these traditional environmentalists, private property is the problem; public control is the …

The Takings Clause As A Comparative Right, John Fee

Faculty Scholarship

No abstract provided.

Muddy Property: Generating And Protecting Information Privacy Norms In Bankruptcy, Edward J. Janger

Faculty Scholarship

No abstract provided.

The Diminishing Equivalence Between Regulatory Takings And Physical Takings, Andrew S. Gold

Faculty Scholarship

No abstract provided.

Book Review: Dekker, The Invisible Line, Joseph Blocher

Faculty Scholarship

Reviewing Henri A.L. Dekker, The Invisible Line: Land Reform, Land Tenure Security and Land Registration (2003)

The Phenomenon Of Substitution And The Statute Quia Emptores, Ronald B. Brown

Faculty Scholarship

No abstract provided.

Palazzolo V. Rhode Island: Takings, Investment-Backed Expectations, And Slander Of Title, Garrett Power

Faculty Scholarship

No abstract provided.

Gendered Shades Of Property: A Status Check On Gender, Race & Property, Laura M. Padilla

Faculty Scholarship

This article explores the relationship between gender, race and property.Women in the United States continue to be economically disadvantaged, and women of color are even more disadvantaged. This article will open with a review of laws, past and present, which have shaped women's rights to own, manage and transfer property. It will then provide a status check of where women, including women of color, stand in the United States relative to the rest of the population vis-a-vis income and other indicators of economic well-being. The article will then discuss why economic inequality persists, trotting out the usual reasons of discrimination …

Electronic Real Estate Documents: Context, Unresolved Cost-Benefit Issues And A Recommended Decisional Process, Sam Stonefield

Faculty Scholarship

This essay begins with a prediction: that electronic real estate documents will soon begin to replace paper documents in many, if not all, phases of residential real estate transactions. It describes the costs and benefits of electronic documents, and the many forces supporting and impeding their widespread adoption. It concludes by urging all those participating in the process to use their best efforts to address the obstacles and to work towards a successful transition to a world of electronic real estate transactions and electronic recording.

Electronic Real Estate Records: A Model For Action, Arthur R. Gaudio

Faculty Scholarship

The legal, technological, and structural components are in place to allow the legal community to embark on the process of creating a uniform real property recording act. Certain jurisdictions have started the process by adopting various provisions allowing counties to implement electronic recording systems. These provisions are, however, disparate and inconsistent. Given the inconsistencies in the manner in which the electronic recording systems are developing, national commercial and lending practices would have a difficult time attempting to comply with all the possible permutations. In the near future, Fannie Mae, the Property Records Industry Association, and the Mortgage Industry Standards Maintenance …

Incomplete Compensation For Takings, Thomas W. Merrill

Faculty Scholarship

If a tribunal determines that a state actor has expropriated foreign investment property, or, under Chapter 11 of the North American Free Trade Agreement (NAFTA), that a state actor has adopted a regulation that is "tantamount to" an expropriation of foreign investment property, then that tribunal must determine the amount of compensation owed. International law has developed methods to determine the size of a compensation award when a state formally expropriates property. But the notion, reflected in Chapter 11 of NAFTA, that states may be required to pay compensation to foreign investors for what are, in effect, regulatory takings, is …

The Demsetz Thesis And The Evolution Of Property Rights, Thomas W. Merrill

Faculty Scholarship

Both conventional price theory and standard economic accounts of tort and contract law assume fixed property rights. In fact, however, property regimes are not static but change over time. Given the assumption of fixed property that otherwise prevails in economic literature, explaining the evolution of property rights is one of the great challenges for the economic analysis of law.

The point of departure for virtually all efforts to explain changes in property rights is Harold Demsetz’s path‐breaking article, “Toward a Theory of Property Rights.” The article is still widely cited and reproduced, especially in first‐year property courses in law schools. …

Property Law: 2001 Survey Of Florida Law, Ronald B. Brown, Joseph M. Grohman

Faculty Scholarship

No abstract provided.

From Reconstruction To Deconstruction: Undermining Black Landownership, Political Independence, And Community Through Partition Sales Of Tenancies In Common, Thomas W. Mitchell

Faculty Scholarship

This article considers one of the primary ways in which African Americans have lost millions of acres of land that they were able to acquire in the latter part of the nineteenth century and the beginning part of the twentieth century and the sociopolitical implications of this land loss. Specifically, this article highlights the fact that forced partition sales of tenancy in common property, referred to more commonly as heirs' property, have been a major source of black land loss within the African American community. The article argues that involuntary black land loss has had a significant negative impact upon …

The Property/Contract Interface, Thomas W. Merrill, Henry E. Smith

Faculty Scholarship

This Article explores the distinction between in personam contract rights and in rem property rights. It presents a functional explanation for why the legal system utilizes these two modalities of rights, grounded in the pattern of information costs associated with each modality. To test this theory, the Article examines four legal institutions that fall along the property/contract interface – bailments, landlord-tenant law, security interests, and trusts – in order to determine how the legal doctrine varies as the underlying situation shifts from in personam, to in rem, to certain relations intermediate between these poles. With respect to each institution, we …

Property Rights And Competition On The Internet: In Search Of An Appropriate Analogy, Maureen A. O'Rourke

Faculty Scholarship

Reasoning by analogy is a time-honored method of legal development. However, recent litigation exposes the weakness of applying legal principles developed in the "bricks and mortar" world by analogy to cyberspace. Using recent court decisions that discuss who may access a website and by what means, this Article illustrates how results can change depending on the analogy the court adopts. The Article argues that rather than searching for analogies, courts and legislators could more profitably devote their energies to understanding how the Internet differs from physical space, evaluating whether those differences call for new legal rules, and considering the conflicting …

The Liberal Commons, Hanoch Dagan, Michael A. Heller

Faculty Scholarship

Following the Civil War, black Americans began acquiring land in earnest; by 1920 almost one million black families owned farms. Since then, black rural landownership has dropped by more than 98% and continues in rapid decline – there are now fewer than 19,000 black-operated farms left in America. By contrast, white-operated farms dropped only by half, from about 5.5 million to 2.4 million. Commentators have offered as partial explanations the consolidation of inefficient small farms and intense racial discrimination in farm lending. However, even absent these factors, the unintended effects of old-fashioned American property law might have led to the …

What Happened To Property In Law And Economics?, Thomas W. Merrill, Henry E. Smith

Faculty Scholarship

Property has fallen out of fashion. Although people are as concerned as ever with acquiring and defending their material possessions, in the academic world there is little interest in understanding property. To some extent, this indifference reflects a more general skepticism about the value of conceptual analysis, as opposed to functional assessment of institutions. There is, however, a deeper reason for the indifference to property. It is a commonplace of academic discourse that property is simply a "bundle of rights," and that any distribution of rights and privileges among persons with respect to things can be dignified with the (almost …

The Rise Of Dispersed Ownership: The Roles Of Law And The State In The Separation Of Ownership And Control, John C. Coffee Jr.

Faculty Scholarship

Recent scholarship on comparative corporate governance has produced a puzzle. While Berle and Means had assumed that all large public corporations would mature to an end-stage capital structure characterized by the separation of ownership and control, the contemporary empirical evidence is decidedly to the contrary. Instead of convergence toward a single capital structure, the twentieth century saw the polarization of corporate structure between two rival systems of corporate governance:

1. A Dispersed Ownership System, characterized by strong securities markets, rigorous disclosure standards, and high market transparency, in which the market for corporate control constitutes the ultimate disciplinary mechanism; and
2. A …

2000 Survey Of Florida Law: Real Property, Ronald B. Brown, Joseph M. Grohman

Faculty Scholarship

No abstract provided.

Wyoming's Residential Rental Property Act-A Critical Review, Arthur R. Gaudio

Faculty Scholarship

Residential leases have been more or less an orphan child in the Wyoming legal structure, perhaps with understandable social and economic reason. With a small body of landlord tenant law based primarily on outdated common law principles, the protections that a tenant can expect are quite limited. The Wyoming legislature took a significant step in an attempt to deal with some of the more pressing issues presented by residential leases. In its 1999 session, it adopted, and the governor signed, an act entitled "Residential Rental Property." The Act obligates landlords to provide tenants in residential rental properties with units that …