Property Law and Real Estate Commons^™

"We Buy Houses": A Foreclosure Rescue As The Solution To The Trapped Homeowner Equity Problem, Cori Harvey

Journal Publications

Foreclosure rescue transactions are viewed widely as scams designed, among other things, to dupe poor, minority, and elderly homeowners out of the equity in their homes. However, foreclosure rescue transactions come in many forms and, as an alternative to foreclosure, often maintain valuable options for homeowners that the homeowners otherwise would lose in the traditional foreclosure process. For this reason, many of these transactions, though imperfect, should be preserved and supported.

This Article introduces one such foreclosure rescue transaction, the residential sale/leaseback/buyback ("RSLB") transaction, into the legal literature from the perspective of the rescue investors. A basic RSLB transaction allows …

Title Registration And The Abolition Of Notice In British Columbia, Douglas C. Harris, May Au

All Faculty Publications

Systems of land law must balance competing goals of securing title for existing interests in land with facilitating their transfer. Title registration systems operate to facilitate transfers of interests in land. They reflect a choice to enhance the security of transfers of interests, providing what has been characterized as dynamic security at the expense of the static security of existing interests. One of the cardinal principles of title registration is the abolition of the doctrine of notice. In equity, if purchasers of a legal interest have notice of a prior equitable interest, then they take their interest subject to that …

“Liking” The Social Media Revolution, Thaddeus A. Hoffmeister

School of Law Faculty Publications

As in other areas of society, social media has significantly influenced the law. Currently, civil and criminal cases can, and often do, turn on an attorney's understanding and use of social media. In the realm of family law, most practitioners view social media as an essential tool-one that could serve as grounds for malpractice if ignored. Even in legal academia-an area long resistant to change-law schools are starting to understand the impact of social media on the law and offer courses like Social Media and Criminal Law and Law and Social Media.

The goal of this essay is not to …

Domestic Wells, Paul Bossert, Sarah Armstrong

Water Matters!

The domestic well statutes direct that the State Engineer “shall” issue a permit for certain types of temporary or low volume wells, including wells for household use. For the past fifty-five years, the Office of the State Engineer (OSE) has interpreted this to mean that such permits are granted with no evaluation, public notice, or hearing.

Taos Pueblo Water Rights Settlement, Paul Bossert, Darcy S. Bushnell

Water Matters!

In November of 2010, the Congress passed the Claims Resolution Act and on December 8, President Obama signed it into law. Title V of the Claims Act, the Taos Pueblo Indian Water Rights Settlement Act, settles the Pueblo portion of the Abeyta case and approves an agreement signed in 2006 by officials from Taos Pueblo, the State of New Mexico, and other interested water rights owners in the Taos area. The settlement act also helps resolve the non-Indian portion of Abeyta. The measure quantifies Taos Pueblo’s water rights and protects the interests of local acequias, the Town of Taos, and …

Water Trust Board, Joanne Hilton, Darcy S. Bushnell

Water Matters!

In 2001, the New Mexico legislature passed the Water Project Finance Act. The stated purpose of the Water Project Finance Act is to provide a financing mechanism to promote water use efficiency, water resource conservation and protection, and fair distribution and allocation of water to all users. The Water Trust Board was created in the Act. Its purpose is to: 1) oversee and administer the Water Trust Fund and Water Project Fund; 2) review and recommend funding for qualifying water projects to the legislature; and 3)pursue additional funding opportunities.

Still An Issue: The Taking Issue At 40, Patricia E. Salkin

Touro Law Review

In October 2013, with the launch of Touro Law Center’s new Institute on Land Use and Sustainable Development Law, the Touro Law Review held a symposium to commemorate the 40th anniversary of “The Taking Issue: A Study of the Constitutional Limits of Governmental Authority to Regulate the Use of Privately-Owned Land Without Paying Compensation to the Owners” (The Takings Issue), the Council on Environmental Quality’s seminal report by Fred Bosselman, David Callies and John Banta. For this symposium Touro Law Review assembled some of today’s leading luminaries to reflect on how the taking issue has evolved and to assess where …

"Pennies On The Dollar": Reallocating Risk And Deficiency Judgment Liability, Kristen Barnes

Akron Law Faculty Publications

Many homeowners are unaware that they face the prospect of crushing personal financial liability if they default on their mortgage loans. While owners may appreciate that they can lose their homes to the lender if they fail to make payments in accordance with their loan terms, many do not fully comprehend that the exposure they have under such circumstances does not end with relinquishing the financed property. In what are known as recourse states, if the lender forecloses and the foreclosure sale does not yield an amount sufficient to cover the borrower’s outstanding debt balance, the lender may file for …

You Don’T Know What You’Ve Got Till It’S Gone: Time-Barred Claims Under The Uniform Trust Code, Alan Newman

Akron Law Faculty Publications

In this article, Alan Newman critically examines the statutory limitations that govern when beneficiaries may bring claims against trustees under the Uniform Trust Code (UTC). He analyzes how the UTC attempts to balance the need for finality in trust administration with the protection of beneficiary interests, particularly in light of statutes of limitations and repose. Newman explores the complex procedural and substantive issues surrounding when claims accrue, what constitutes adequate notice to beneficiaries, and how these factors affect whether a claim is time-barred. He raises concerns about beneficiaries losing valid claims without ever realizing their rights have expired, hence the …

The Global Right To Property, John G. Sprankling

McGeorge School of Law Scholarly Articles

Does a right to property exist under international law? The traditional answer to this question is “no”―a right to property can arise only under national law. But sweeping economic and political changes in recent decades have laid the foundation for recognizing a global right to property. Ideological opposition to property rights has faded with the end of the Cold War; China, Russia, and other socialist states have transitioned to market economies which are premised on private property; and the globalization of trade has enhanced international support for protecting property rights. Accordingly, it is appropriate to revisit the question.

This article …

The Copyright/Patent Boundary, Viva R. Moffat

University of Richmond Law Review

No abstract provided.

Housing Changing Households: Regulatory Challenges For Micro-Units And Accessory Dwelling Units, John Infranca

Suffolk University Law School Faculty Works

The existing stock of affordable rental housing falls significantly short of the need in many areas of the country. In addition, available housing frequently does not match the specific needs of prospective tenants, which have changed as household sizes shrink, more people are living alone, and people are living longer. This misalignment has been exacerbated by regulatory environments that have not kept pace with evolving housing demands. Likely as a result, cities throughout the country have seen an increase in illegal housing units – units that do not conform to zoning or building codes and may not provide safe living …

Municipal Manifest Destiny: Constitutionality Of Unilateral Municipal Annexations, Dustin Cammack

BYU Law Review

No abstract provided.

Coasean Bargaining In Consumer Bankruptcy, Edward R. Morrison

Faculty Scholarship

During my first weeks as a graduate student in economics, a professor described the Coase Theorem as “nearly a tautology:” Assume a world in which bargaining is costless. If there are gains from trade, the Theorem tells us, the parties will trade. The initial assignment of property rights will not affect the final allocation because the parties will bargain (costlessly) to an efficient outcome. “How can that be a theorem?,” I remember thinking at the time.

Think Twice: Charging Orders And Creditor Property Rights, Chad J. Pomeroy

Faculty Articles

What do you do? As a lawyer (or prospective lawyer), I mean – what do you do (or what will you do) in exchange for a salary or hourly fee? You will probably be expecting a lot of money for your services; so what, exactly, is it that you will do to justify that payment?

The answer, of course, is varied because lawyers do lots of different things. And, among these activities, there are some things that only lawyers can do. Chief among those is suing people. Suing people is something that only lawyers do because states do not generally …

Anti-Waste, Michael Pappas

Faculty Scholarship

It may be a bad idea to waste resources, but is it illegal? Legally speaking, what does “waste” even mean? Though the concept may appear completely subjective, this Article builds a framework for understanding how the law identifies and addresses waste.

Drawing upon property and natural resource doctrines, the Article finds that the law selects from a menu of five specific, and sometimes competing, societal values to define waste. The values are: 1) economic efficiency, 2) human flourishing, 3) concern for future generations, 4) stability and consistency, and 5) ecological concerns. The law recognizes waste in terms of one or …

Mortgage Modification And Strategic Behavior: Evidence From A Legal Settlement With Countrywide, Christopher Mayer, Edward R. Morrison, Tomasz Piskorski, Arpit Gupta

Faculty Scholarship

We investigate whether homeowners respond strategically to news of mortgage modification programs. We exploit plausibly exogenous variation in modification policy induced by settlement of U.S. state government lawsuits against Countrywide Financial Corporation, which agreed to offer modifications to seriously delinquent borrowers. Using a difference-in-difference framework, we find that Countrywide's monthly delinquency rate increased more than 0.54 percentage points – ten percent relative increase – immediately after the settlement's announcement. The estimated increase in default rates is largest among borrowers least likely to default otherwise. These results suggest that strategic behavior should be an important consideration in designing mortgage modification programs.

Why Restate The Bundle? The Disintegration Of The Restatement Of Property, Thomas W. Merrill, Henry E. Smith

Faculty Scholarship

The American Law Institute (ALI) has devoted a great deal of time and energy to restating the law of property. To date, the ALI has produced 17 volumes that bear the name First, Second, or Third Restatement of Property. There is unquestionably much that is valuable in these materials. On the whole, however, the effort has been a disappointment. Some volumes seek faithfully to restate the consensus view of the law; others are transparently devoted to law reform. The ratio of reform to restatement has increased over time, to the point where significant portions of the Third Restatement …

From Vacant Lots To Full Pantries: Urban Agriculture Programs And The American City, Jessica Owley, Tonya Lewis

Articles

No abstract provided.

You Don't Own Me: Feral Dogs And The Question Of Ownership, Stacy A. Nowicki

Animal Law Review

Feral dogs occupy an ambiguous position, challenging standard categories of domestication, wildness, and property ownership. This ambiguity, in turn, complicates the legal status of feral dogs. Feral dogs' property status is particularly critical, as whether a feral dog is owned by someone, or no one at all, hold implications not only for civil and criminal liability in incidents involving feral dogs, but also the legal ability of animal rescue organizations to intervene in the lives of feral dogs. Part II of this Article summarizes the application of property law to ani­mals, particularly highlighting the role played by an animal's status …

New Mexico Water Law Capsules, Stephanie Tsosie

Water Matters!

This article contains a list some of the key cases decided in the state and federal courts of New Mexico with very brief descriptions of the rulings. The finalized cases have been arranged by topic. This chapter is intended to be a quick and handy reference guide and not a thorough summary of the facts and law of each case. This year we have also included a list of water law statutes.

Adjudications, Brigette Buynak, Darcy S. Bushnell

Water Matters!

Adjudications are lawsuits that take place in state or federal court to resolve all claims to water use in the state of New Mexico, including those of Pueblos, tribes and the federal government. These cases are required by statute to create a formal inventory of water uses and to facilitate administration of New Mexico’s surface and groundwater. The geographic scope of each case is generally described by a stream system and occasionally by a groundwater basin. By statute, the State is always the plaintiff. The mission is to formally identify and recognize all valid water rights in each area being …

Water Conservation, Consuelo Bokum

Water Matters!

New Mexico always has had periods of water shortages, some far more long lasting and devastating than others. As warming temperature and changing weather patterns continue to develop, the likelihood that water shortages—like those felt throughout the state from 2010 through 2013—will occur with greater frequency. These changes can and have caused significant economic and environmental damage, and the risk of more harm will not improve unless we improve our water management significant.

Drought, Adrian Oglesby

Water Matters!

New Mexico is renowned for its high deserts, mild climate, and abundant sunshine. Incidentally, these physical attributes, which make New Mexico so unique and beautiful, are also characteristic of a naturally dry environment. The state has been subjected to severe drought conditions in the past, alternating with times of uncharacteristically high supplies of moisture upon which its population has at times over-relied.

This article will provide various definitions of drought and a short history of drought in New Mexico; discuss impacts of drought on the state’s human water user communities and environment; discuss in brief the priority call and water …

Priority Administration, Ed Merta

Water Matters!

Since the turn of the twenty first century, drought conditions have frequently stricken much of New Mexico. Such intervals of extreme dryness have been a permanent, recurring feature of the state’s climate for at least two thousand years, according to tree ring data and other scientific evidence. Some of these past droughts lasted for decades, exceeding in severity the Dust Bowl of the 1930sand the great New Mexico drought of the 1950s. Today, climate change models indicate that the Southwest will likely become even hotter, potentially making future droughts in New Mexico more extreme. Managing water shortages promises to become …

Active Water Resource Management, Paul Bossert, Gregory C. Ridgley

Water Matters!

For decades, most of the waters of the State of New Mexico have been the subject of water rights adjudications to establish all the water rights. Stream systems and sub-basins geographically define the adjudications. There are twelve active cases. However, complete adjudication of all New Mexico water rights is still many years away. Meanwhile, water use in the state has evolved.New water users increasingly look to acquire existing water rights rather than developing new rights. Decisions on administration, distribution, and redistribution of water have to be made.

It was widely held, though not unanimously, that the State Engineer needed greater …

Water For New Mexico Rivers, Beth Bardwell, Adrian Oglesby

Water Matters!

The Rio Grande, the Pecos, the Gila, the San Juan, the Canadian—New Mexico’s rivers are synonymous with the state’s culture and natural heritage. New Mexicans overwhelmingly care about the health of the state’s rivers and that includes flows to support fish and river dependent wildlife. Rivers, wetlands, and riparian areas comprise a very small part of our landscape—a mere 1 percent. This 1 percent plays an essential role in renewing the state’s water supply for its two million residents; for sustaining the state’s second largest industry—tourism; for producing food and fiber; and for sustaining New Mexico’s web of life. Eighty …

Inter-Basin Water Transfers, Anne Minard

Water Matters!

Inter-basin water transfers move water from one watershed to another. As droughts constrict the availability of water, and cities grow larger and thirstier, such transfers are increasingly being eyed as a solution. Although inter-basin transfers usually do not increase the overall availability of water in a state, they can move water to where it is needed most. Some of the main proponents of inter-basin transfers are pro-growth city and state governments as the re-allocation of water across watersheds allows for flexibility in planning for future growth.

Navajo-Gallup Water Supply Project, Jerold Widdison, Pat Page

Water Matters!

In March of 2009, the Congress passed and President Obama signed into law the“Omnibus Public Land Management Act of 2009". The Project is a major endeavor for northwestern New Mexico. In one sense,authorization of the project culminates years of work. In another sense, it means the beginning of many additional years of effort. There is much to be done to construct and carry the project forward to reality, including work for the federal government,the State of New Mexico, the Navajo Nation, and the city of Gallup. In view of the Project’s magnitude, this article reviews only its major aspects

The Nambé, Pojoaque, San Ildefonso, And Tesuque Pueblos Settlement, Paul Bossert, Sarah Armstrong

Water Matters!

The “Aamodt case” is a complex, long-running adjudication of water rights in the Pojoaque River watershed northwest of Santa Fe. In 1966,it was filed in federal court as State of New Mexico, ex rel. State Engineer,et al. v. Aamodt, et al. The parties include the State, through the State Engineer, about 5,600 non-Indian claimants, the Pueblos of Nambé, Pojoaque,San Ildefonso, and Tesuque, and governmental entities such as the county of Santa Fe, many acequias, the Pojoaque Valley Irrigation District, and several federal and state agencies.