Property Law and Real Estate Commons^™

Strategic Water Reserve, Brigette Buynak, Stephanie Tsosie

Water Matters!

The Strategic Water Reserve (Reserve) established in 2005 transforms New Mexico’s policies regarding river management. The Reserve is a pool of publicly held water rights dedicated to keeping New Mexico’s rivers flowing to meet the needs of river-dependent endangered species and to fulfill our water delivery obligations to other states. It is a tool for New Mexico to achieve sensible and sustainable water policies by balancing water use between cities, industry, agriculture, and the rivers of the state.

The Copyright/Patent Boundary, Viva R. Moffat

University of Richmond Law Review

No abstract provided.

"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 …

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 …

Energy Versus Property, Michael Pappas

Publications

This Article is the first to detail the balance legislatures and courts have struck between private property rights and the compelling public interest in energy production. By examining how property rights have consistently yielded to energy development from colonial times to the most recent decisions involving hydraulic fracturing ("fracking'), it identifies a coherent energy/property balance that has shaped property expectations to accommodate energy needs. The Article then applies this insight to current disputes pitting aggressive renewable energy policies-such as nuisance immunity or mandatory installations on private property-- against fundamental property expectations: the right to exclude and the right to use …

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

BYU Law Review

No abstract provided.

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 …

Bridging The Gaps In Property Theory, Adam J. Macleod

Scholarly Articles

Though several others can rightly be said to have done as much, no one has done more to rehabilitate the idea of property as a meaningful normative concept than James Penner and Henry Smith. That the two of them have edited a collection together is a substantial reason to read it. That the collection contains contributions from many of the best property theorists is another. The introduction to the book sets the ambitious goal of identifying what needs explaining in the ‘broad space that lies between’ the philosophy of property and scholarship about particular legal doctrines. For anyone interested in …

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 …

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 …

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

Articles

No abstract provided.

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.

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 …

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 …

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.

Summary Of County Of Clark V. Lb Properties, Inc., 129 Nev. Adv. Op. 96, Lee Gorlin

Nevada Supreme Court Summaries

The Court determined whether a regulation promulgated by the Nevada Tax Commission to value remainder parcels of real property for tax abatement purposes applies retroactively, and if so, whether it violates Article 10, Section 1 of the Nevada Constitution.

Real Property, Linda S. Finley

Mercer Law Review

For the last several years, the Author has begun this Survey with a comment about the American economy and the increase in the number of foreclosures facing Georgia homeowners. Although the number of residential foreclosures appears to be decreasing, the plight of homeowners remains a critical issue. Rest assured, this Article does not limit itself to a review of consumer-related law. It also looks at broad topics pertaining to real property, because whether the topic is foreclosure, boundaries, condemnation, or title, ". . . it is just about the dirt."

Dirty Remics, Revisited, Bradley T. Borden, David J. Reiss

Cornell Law Faculty Publications

No abstract provided.