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Articles 121 - 150 of 747
Full-Text Articles in Property Law and Real Estate
Restitution - Purchaser's Remedies Where Real Estate Broker Falsely Purports To Be Owner's Agent And Misrepresents Owner's Minimum Price, John W. Simpson
Restitution - Purchaser's Remedies Where Real Estate Broker Falsely Purports To Be Owner's Agent And Misrepresents Owner's Minimum Price, John W. Simpson
Michigan Law Review
Defendant, a licensed real estate broker, represented that he was exclusive agent for the sale of 72 acres of property. Plaintiff made him an offer to purchase at $4,000 per acre, but was later informed by defendant that the owner had rejected the offer, insisting on at least $5,000 per acre. Plaintiff then submitted an offer of $5,000 per acre, which defendant subsequently indicated that the owner had accepted. The deal was consummated with most of the papers handled through a third party employee of defendant. Plaintiff subsequently learned that defendant had never been the agent of the owner, had …
Taxation - Federal Income Tax - Lessor's Right To Depreciation Allowances Under Long Term-Lease, E. Roger Frisch S.Ed.
Taxation - Federal Income Tax - Lessor's Right To Depreciation Allowances Under Long Term-Lease, E. Roger Frisch S.Ed.
Michigan Law Review
Plaintiff corporation leased its entire railroad property under a long-term lease subject to termination at the election of either party, or by breach of die lessee. The lessee agreed to preserve, replace, renew and maintain the property during the term and to return it upon termination "in at least as good condition as at the beginning of the term." Plaintiff, on the other hand, agreed to reimburse the lessee for all additions and betterments to the property which passed to him upon termination. The government disallowed plaintiff's claim for a tax refund based on its right to allow for depreciation, …
Inheritance Taxation - Selected Provisions Of Michigan, Illinois And Ohio - A Study In Application And Justification, Edward B. Stulberg S.Ed.
Inheritance Taxation - Selected Provisions Of Michigan, Illinois And Ohio - A Study In Application And Justification, Edward B. Stulberg S.Ed.
Michigan Law Review
This comment will explore the existing variations in four commonly encountered areas: joint interests with rights of survivorship, contingent remainder interests, powers of appointment, and life insurance proceeds. Emphasis will also be placed on treatment accorded the surviving spouse and children and the implicit relationship between such treatment and some of the above areas. The essence of this examination will be to inquire whether adoption of an estate tax would be a more suitable vehicle for implementing a local death tax program.
Restitution - Constructive Trusts - Family Arrangements With Respect To Land Entered Into By Oral Trust, Robert Bruce Nelson
Restitution - Constructive Trusts - Family Arrangements With Respect To Land Entered Into By Oral Trust, Robert Bruce Nelson
Michigan Law Review
A mother, desiring to divide real property among five children, conveyed two of five shares by separate deeds to her daughter, Edith. Although no instructions were written, it was intended that Edith hold one share for her brother, John, who was mentally ill. Edith had no knowledge of the deed to this share at the time, as it was held by another brother, although the deed of her share was delivered to her. It does not appear when Edith first learned of the deed or the trust. When John died she was told of the deed by her other brother, …
Priorities: Ii, Edgar N. Durfee
Priorities: Ii, Edgar N. Durfee
Michigan Law Review
This is the second part of "Priorities" (also known as "Little Nemo") which was taken from Professor Durfee's teaching materials. The first part was published in the February issue-which was dedicated to the memory of Professor Durfee.
Real Property - Easements By Implication - Effect Of The Restatement Of Property, Albert A. Haller S.Ed.
Real Property - Easements By Implication - Effect Of The Restatement Of Property, Albert A. Haller S.Ed.
Michigan Law Review
It is the purpose of this comment to examine the cases involving easements by implication which have appeared since the Restatement was adopted in 1944 to determine the extent to which courts have followed or been influenced by the Restatement or have independently adopted a similar standard.
Taxation - Federal Income Tax - Involuntary Conversion Treatment Afforded Sale Of Remaining Property After Partial Condemnation, Stevan Uzelac
Taxation - Federal Income Tax - Involuntary Conversion Treatment Afforded Sale Of Remaining Property After Partial Condemnation, Stevan Uzelac
Michigan Law Review
Petitioner owned two parcels of real estate across the street from each other which were used as one "economic unit" for purposes of a trucking terminal. One parcel was improved with a terminal building from which trucks would pick up and deliver their shipments, while the other was used as a parking lot for trucks not in use. Petitioner was forced to sell the parking lot under threat of condemnation. Since it was economically unfeasible to operate his business without a nearby parking lot, petitioner subsequently sold the terminal facilities and reinvested the proceeds from the sales of both properties …
Priorities, Edgar N. Durfee
Priorities, Edgar N. Durfee
Michigan Law Review
Among those of Edgar Durfee's colleagues who were familiar with this paper it came to be known as "Little Nemo," for a reason that will become apparent to the reader. It is taken from his mimeographed Cases on Security, third edition, published in 1938. Possibly it was published earlier but there is a gap in the evidence. It did not appear in the first edition published in 1934 but no copy of the second edition has been located. In a few places its age shows, for example in the reference to Walsh as the author of the most recent …
Personal Property - Gifts - Delivery To Third Party, Thomas A. Dieterich S.Ed.
Personal Property - Gifts - Delivery To Third Party, Thomas A. Dieterich S.Ed.
Michigan Law Review
A husband changed the beneficiary of his life insurance policy from his wife to his mother during a temporary separation and failed to restore his wife as beneficiary after reconciliation. Subsequent to his death the mother, in the presence· of the wife, signed a memorandum "waiving" her policy rights "to" the wife and handed the writing to the insurer's district manager. Before payment of the proceeds the mother discovered that the wife was the beneficiary of another policy and attempted to revoke the memorandum. In insurer's interpleader action, a gift to the wife was recognized. On appeal, held, affirmed. …
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Future Interests - Rule Against Perpetuities - Recent Statutory Amendment In New York, Paul K. Gaston S.Ed.
Michigan Law Review
After 128 years of criticism and confusion and enormous amounts of litigation, New York has amended its statutory rule against perpetuities. The old rule provided that the absolute power of alienation could not be suspended for longer, than "two lives in being" at the creation of the estate plus a minority exception in some cases. Under the new rule the absolute power of alienation can be suspended for a period measured by any number of "lives in being" at the creation of the estate so long as they are not "so designated or so numerous as to make proof of …
Real Property - Restrictive Covenants - Effect Of Expiration Of Time Limitation In Deed Under General Plan, John D. Kelly
Real Property - Restrictive Covenants - Effect Of Expiration Of Time Limitation In Deed Under General Plan, John D. Kelly
Michigan Law Review
Plaintiffs were the owners of two lots in a subdivision originally owned by a real estate development company. Defendants were property owners or lien holders within the subdivision, the development company, and the prospective purchasers of plaintiff's lots who refused to buy on the ground that the lots were subject to certain restrictions. All purchasers of lots within the subdivision had received the same form deed containing the identical provision that restrictions, including one prohibiting nonresidential use, were to be enforceable for twenty-one years from the date of each conveyance. The first lot was sold in 1927 and plaintiffs' …
Real Property - Adverse Possession - Between Cotenants, Paul K. Gaston
Real Property - Adverse Possession - Between Cotenants, Paul K. Gaston
Michigan Law Review
C. V. James and his wife and children owned certain property as tenants in common. In 1931 defendant Fallon recovered a judgment against C. V. James, and the land was sold by a sheriff under execution. Fallon became the purchaser at the sheriff's sale and was issued a sheriff's deed purporting to convey the entire interest in the property. Thereafter he was "in the actual, visible, distant, hostile, exclusive, continuous and uninterrupted possession" of the land and paid all taxes thereon. Plaintiffs, the wife and children of James, brought this action to determine the ownership of the property. Fallon claimed …
Conflict Of Laws - Estoppel - Extra-Territorial Effect Of Probate Decree, Thomas A. Hoya S.Ed.
Conflict Of Laws - Estoppel - Extra-Territorial Effect Of Probate Decree, Thomas A. Hoya S.Ed.
Michigan Law Review
Testator, domiciled in California, by his will created a charitable trust of his residuary estate which included lands located in North Dakota. Under California law, the charitable bequest was valid to the extent of only one-third of the residuary estate. Upon distribution of the trust estate by the California court, the charity appeared and received its one-third of the entire residuary property. The trustee then filed with the North Dakota court, asking that the North Dakota land be distributed in accord with the California decree. Since there was no limitation on the validity of the charitable bequest in North Dakota, …
Descent And Distribution - Joint Ownership - Imposition Of Constructive Trust On Murderer Of Co-Tenant, John B. Schwemm S.Ed.
Descent And Distribution - Joint Ownership - Imposition Of Constructive Trust On Murderer Of Co-Tenant, John B. Schwemm S.Ed.
Michigan Law Review
A husband, owning land with his wife as tenants by the entireties, killed her and immediately thereafter committed suicide. In an action to determine ownership of the realty, both the probate and appellate courts declared that since a relevant disinheritance statute was inapplicable, full title vested in the husband and, upon his death, descended to his heirs. On appeal, held, reversed. Despite the common law nature of such tenancies, equity will impose on the husband a constructive trust in one-half the property for the benefit of the victim's estate. National City Bank of Evansville v. Bledsoe, (Ind. 1957) …
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Michigan Law Review
From what has preceded it is apparent that none of those who would reform the rule against perpetuities, excepting Professor Simes, has suggested that the rule's application to remoteness of vesting alone requires investigation. Yet there is little doubt that this aspect of the rule has caused as much if not more litigation than those which have been so harshly condemned. Proof of this assertion will not be undertaken, for every property lawyer knows how frequently courts are called upon to determine whether for purposes of the rule an interest is "vested" or "contingent." Professor Simes put it well when …
Future Interests - Validity Of Shifting Executory Interest On Event Certain To Occur, Jerome B. Libin S.Ed.
Future Interests - Validity Of Shifting Executory Interest On Event Certain To Occur, Jerome B. Libin S.Ed.
Michigan Law Review
Testator's will provided for alternative devises of his business real estate. If employees of the business exercised an option granted by the will to purchase his partnership interest within eight months after his death, the real estate was to pass to a bank in trust for his daughter and her children. If the option was not exercised within this period, the real estate was to pass to his widow. A residuary clause divided the remainder of his estate equally between his widow, absolutely, and the named bank as trustee. After passage of the eight-month period, testator's daughter sought a declaration …
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Should The Rule Against Perpetuities Discard Its Vest?, Daniel M. Schuyler
Michigan Law Review
The venerable rule of property known as the rule against perpetuities has recently been subjected to numerous searching and critical analyses, some of which will presently be discussed. Thus far nothing has been published dealing with, and only Professor Simes has touched upon, what seems to the present writer to be the most serious problem engendered by the common law rule in its commonly accepted form, i.e., the notion that the rule is concerned only with remoteness of vesting. It is the purpose of the present discussion to examine the concept of vesting as related to the rule and to …
Municipal Corporations - Zoning - The Granting Of A Variance Based On Unnecessary Hardship, Frank D. Jacobs S.Ed.
Municipal Corporations - Zoning - The Granting Of A Variance Based On Unnecessary Hardship, Frank D. Jacobs S.Ed.
Michigan Law Review
Defendant purchased a tract of vacant land located in the most highly restricted residence zone of his city. The local zoning ordinance prescribed minimum area, width, and depth measurements for building plots in that district. Defendant desired to subdivide the property into two building plots in order to build a one-family residence on each plot. Although the first plot complied with the minimum requirements of the ordinance, the other plot was deficient in area and depth measurements. Defendant was unsuccessful in his attempts both to purchase adjoining land and to sell parts of his property to adjoining owners. He then …
The Practical Location Of Boundaries, Olin L. Browder Jr.
The Practical Location Of Boundaries, Olin L. Browder Jr.
Michigan Law Review
Early in the development of the common law of conveyancing, as everyone knows, the practice of physically consummating a conveyance by acts on the land itself was abandoned in favor of the more flexible and convenient devices authorized or required by the Statute of Uses and the Statute of Frauds. Now we do it all on paper and consummate the transaction at any convenient place. One of the requirements of this process is to make clear what land is being conveyed. So we describe the land on paper in one of the several ways which have been approved for this …
Legislation - Future Interests - Extinguishment Of Contingent Remainder Interests In The Unborn, Edward B. Stulberg
Legislation - Future Interests - Extinguishment Of Contingent Remainder Interests In The Unborn, Edward B. Stulberg
Michigan Law Review
Under the somewhat misleading title of "An Act To Permit the Dissolution of Estates Tail and To Permit the Conveyance of Contingent Remainder Interest and To Provide Procedure Therefor," Arkansas has enacted legislation which partially revitalizes an ancient common law rule that other legislatures and courts have been trying to eliminate for some hundred and fifty years-the doctrine of the destructibility of contingent remainders. Arkansas' Act 163 is thus unique among the modern statutes designed to increase the alienability of estates fettered with outstanding future interests.
A Supplement To "Constitutionality Of Marketable Title Acts"-1951-1957, Ralph W. Aigler
A Supplement To "Constitutionality Of Marketable Title Acts"-1951-1957, Ralph W. Aigler
Michigan Law Review
An article bearing the title, "Constitutionality of Marketable Title Acts," was published in December 1951. It was there pointed out that such legislation, of which the Michigan act is an example, should be found to be within constitutional limits. It was recognized, however, that direct authority was scarce and that cases that might be deemed pertinent were conflicting.
Future Interests - Rule Against Perpetuities - Legislation Exempting Options To Purchase In Leases, Edward A. Manuel S.Ed.
Future Interests - Rule Against Perpetuities - Legislation Exempting Options To Purchase In Leases, Edward A. Manuel S.Ed.
Michigan Law Review
A recent West Virginia statute provides that in all leases subsequently executed, an option to purchase the whole or any part of the leased premises-exercisable during or at the end of the term is not subject to the rule against perpetuities. The statute also provides that the rule against perpetuities shall not constitute a defense to a suit to enforce such an option against the lessor. W. Va. Code (Michie, Cum. Supp. 1957) §3541(3).
Real Property - Joint Tenancy - Effect Of Contract To Convery By Joint Tenants Of Entire Interest In Property As A Severance Of The Joint Tenancy, George W. Marti
Real Property - Joint Tenancy - Effect Of Contract To Convery By Joint Tenants Of Entire Interest In Property As A Severance Of The Joint Tenancy, George W. Marti
Michigan Law Review
H and W, as owners of certain real state in joint tenancy with rights of survivorship, contracted to convey this property. Prior to conveyance, and while part of the purchase price still remained to be paid, H died. Petitioner, an heir of H, brought action in equity for a declaratory judgment to determine the effect of a contract to convey land held in joint tenancy. The lower court held the joint tenancy had been terminated by the contract of sale and the contract to convey was held by H and W as tenants in common so that on …
Real Property - Adverse Possession - Title Acquired By Husband And Wife, Richard S. Rosenthal, George F. Lynch S.Ed.
Real Property - Adverse Possession - Title Acquired By Husband And Wife, Richard S. Rosenthal, George F. Lynch S.Ed.
Michigan Law Review
John and Maltie Preston moved onto a parcel of land in 1910 where they lived until 1950 when John died intestate. Maltie died intestate in 1954. Title to the land had been perfected by twenty years adverse possession. Evidence showed that the adverse possession was intended to inure to their joint benefit. Complainants, collateral heirs of John, sued in ejectment claiming that John took the whole title by exclusive adverse possession. Defendants, collateral heirs of Maltie, claimed a tenancy by the entirety had been created, with the survivor, Maltie, becoming the sole owner. The court of appeals ruled that the …
Constitutional Law - Due Process - Adequacy Of Notice By Publication, Cyril Moscow S.Ed.
Constitutional Law - Due Process - Adequacy Of Notice By Publication, Cyril Moscow S.Ed.
Michigan Law Review
In condemnation proceedings instituted by a city against a landowner, notice of proceedings to determine his compensation was given only by publication in the official city newspaper. The statute in force called for notice either in writing or by publication. After the time authorized for appeal from a compensation award had elapsed, the landowner brought an equitable action to enjoin the city from entering upon the property, alleging that he knew nothing of the condemnation proceedings until after the time for appeal had passed. The trial court denied relief, holding that the newspaper publication was sufficient notice to meet due …
Real Property - Landlord And Tenant - Lessor's Arbitrary Withholding Of Consent To Sublease, William G. Mateer S.Ed.
Real Property - Landlord And Tenant - Lessor's Arbitrary Withholding Of Consent To Sublease, William G. Mateer S.Ed.
Michigan Law Review
Defendant leased a portion of plaintiff's building for a seven-year period. Contained in the lease was a covenant whereby the lessee agreed not to assign or sublet without the lessor's consent. One year prior to the expiration date of the lease, the defendant gave notice of his intention to vacate and submitted to the plaintiff a proposed sublease under which the premises would be rented to the Postmaster General of the United States. The plaintiff stipulated that the proposed sublessee was ready, able, and willing to assume the obligations of the original lease and was a proper sublessee in every …
Future Interests - Rule Against Perpetuities - Recent Kentucky Legislation Pertaining To Administrative Contingencies, Jules M. Perlberg S.Ed.
Future Interests - Rule Against Perpetuities - Recent Kentucky Legislation Pertaining To Administrative Contingencies, Jules M. Perlberg S.Ed.
Michigan Law Review
A recent Kentucky amendment to its perpetuities statute follows the lead of Illinois in seeking a legislative solution to the problems inherent in applying the rule against perpetuities to administrative contingencies. The amendment provides, inter alia, that the vesting of any limitation of property "shall not be regarded as deferred for purposes of the rule against perpetuities or regarded as a suspension of the power of alienation of title to property merely because the limitation is made to the estate of a person, or to a personal representative, or to a trustee under a will, or to take effect on …
Simes & Smith: The Law Of Future Interests, Bertel M. Sparks
Simes & Smith: The Law Of Future Interests, Bertel M. Sparks
Michigan Law Review
A Review of The Law of Future Interests. 4 vols. By Lewis M. Simes and Allan F. Smith.
Eminent Domain - Restrictive Covenants - Compensability Of Equitable Servitudes, Thomas A. Troyer
Eminent Domain - Restrictive Covenants - Compensability Of Equitable Servitudes, Thomas A. Troyer
Michigan Law Review
During appellee sanitation district's negotiations for the purchase of a tract of land owned by one Peterson, the eighteen appellants and thirty-seven other owners of land in the vicinity of Peterson's tract executed with Peterson and each other reciprocal covenants whereby each party agreed that his land should be restricted to certain uses, the use contemplated by appellee for Peterson's land being specifically excluded. When appellee and Peterson failed to reach an agreement in their negotiations and appellee filed a petition for condemnation of the land, appellants presented a cross-petition to the trial court, requesting that they be allowed to …
Trusts - Improved Real Estate - Validity Of Depreciation Reserves, Ross Kipka S.Ed.
Trusts - Improved Real Estate - Validity Of Depreciation Reserves, Ross Kipka S.Ed.
Michigan Law Review
Depreciation of physical assets is an accounting procedure now taken for granted in the business and tax areas of the law. Its emergence in the field of trusts has been relatively slow, however, and even today it has not gained much acceptance by the courts. It is the purpose of this comment to examine some of the reasons why the courts have been reluctant in applying the depreciation concept to trusts, and in particular to those trusts that include improved real estate among the assets of the corpus.