Property Law and Real Estate Commons^™

Perpetual Affordability Covenants: Can These Land Use Tools Solve The Affordable Housing Crisis?, Elizabeth Elia

Penn State Law Review (2003 - Present)

Approximately 3.8 million privately-owned residential housing units in America today contain affordability covenants recorded in their chains of title. State and local agencies and the District of Columbia use these covenants to ensure that publicly-subsidized properties are actually used to provide affordable housing. With rents at all-time highs and stagnant wages, the affordable housing crisis has reached a fever pitch. House Democrats are proposing billions more in housing subsidy. To the extent those funds subsidize privately-owned housing development they, too, will be secured by affordability covenants. In response to this crisis, a new trend in high cost markets is to …

Cutting Pension Rights For Public Workers: Don't Look To The Courts For Help, Ronald H. Rosenberg

Faculty Publications

Every day we rely on public employees to provide us with a broad range of services necessary to daily life. These workers include public school teachers, fire and police, emergency medical technicians, park rangers, nurses just to name a few. As public employees, these people work for local and state government and they are compensated by us for their services through the taxes we pay. In general, these are modestly paid workers who also receive pensions when they retire after many years of work. Following the financial crisis of 2008-2009, government retirement trust funds significantly lost value and their long-term …

Introduction: Property In Ecology, Jonathan H. Adler

Faculty Publications

Are property rights in ecological resources compatible with environmental protection? Might they be essential?

Working at the local level, conservationists have often rediscovered Aldo Leopold’s counsel that private rights can be more effective than government regulation. Conservation goals have been dramatically enhanced by the growth of land trusts and increasing use of property instruments such as conservation easements. Land ownership in fee simple is one way a conservation organization may protect a particular place, but it is hardly necessary in many contexts. Conservation easements and other partial interests in land are often a highly cost-effective alternative, particularly where conservation is …

How Bitcoin Functions As Property Law, Eric D. Chason

Faculty Publications

Bitcoin replicates many of the formal aspects of real estate transactions. Bitcoin transactions have features that closely resemble grantor names, grantee names, legal descriptions, and signatures found in real property deeds. While these “Bitcoin deeds” may be interesting, they are not profound. Bitcoin goes beyond creating simple digital deeds, however, and replicates important institutional aspects of real estate transactions, in particular recordation and title assurance. Deeds to real property are recorded in a central repository (e.g., the public records office), which the parties (and the public) can search to determine title. When one grantor executes more than one deed covering …

Please Don't Stop The Music: Using The Takings Clause To Protect Inmates' Digital Music, Amber M. Banks

Vanderbilt Journal of Entertainment & Technology Law

In prisons across the country, inmates are encouraged to participate in digital media programs. One in ten correctional facilities in the US has digital media programs in which inmates purchase both a device-such as an MP3 player or tablet-and content or services for the device-such as digital music-from a third-party vendor. Although fee structures vary, the facility or the state corrections department usually receives a commission on the revenue generated from inmates' purchases, thereby profiting off of each purchase that an inmate makes. As their contracts with third-party vendors end, state correctional departments may change vendors, either in search of …

Empowering The Poor: Turning De Facto Rights Into Collateralized Credit, Steven L. Schwarcz

Faculty Scholarship

The shrinking middle class and the widening gap between the rich and the poor constitute significant threats to social and financial stability. One of the main impediments to upward mobility is the inability of economically disadvantaged people to use their property — in which they sometimes hold only de facto, not de jure, rights — as collateral to obtain credit. This Article argues that commercial law should recognize those de facto rights, enabling the poor to borrow to start businesses or otherwise create wealth. Recognition not only would provide benefits that exceed its costs; it also would be consistent with, …

Expropriation In The Name Of Rights: Transferable Development Rights (Tdrs), The Bundle Of Sticks And Chinese Politics, Shitong Qiao

Faculty Scholarship

Through an in-depth empirical investigation, this article discloses for the first time how and why land reform programs in the name of empowering and enriching farmers have been serving the purpose of Chinese local governments to compromise the rights revolution in the Chinese national expropriation regime. The concept of “transferable development rights” (TDRs) is simple: development rights from one parcel of land are lifted up and transferred to another. Upon a detailed examination of land tickets in Chongqing and Chengdu, the southwestern Chinese application of TDRs, this article reveals that local governments in both cities have created schemes of land …

The Architecture Of Property, Thomas W. Merrill, Henry E. Smith

Faculty Scholarship

Avoiding the reduction of property to a bundle or rights or to the working out of a single master principle, the architectural theory of property sees property as an integrated system or structure anchored in certain unifying principles. Because our world is neither chaotic nor additiviely simple, property law and institutions must achieve their plural ends in a fashion that manages the inherent complexity of the interaction of valued resource attributes and human actions. In managing complexity, some of the law’s structures receive functional explanations and justifications, which can be different from the explanations and justifications that apply to the …

Opening Remarks: The Federalism Dimension Of Constitutional Property, Stewart E. Sterk

Articles

No abstract provided.

Divergence And Convergence At The Intersection Of Property And Contract, Giuseppe Dari-Mattiacci, Carmine Guerriero

Faculty Scholarship

In this Article, we study rules that solve the conflict between the original owner and an innocent buyer of a stolen or embezzled good. These rules balance the protection of the original owner’s property and the buyer’s reliance on contractual exchange, thereby addressing a fundamental legal and economic trade-off. Our analysis is based on a unique, hand-collected dataset on the rules in force in 126 countries. Using this data, we document and explain two conflicting trends. There is a large amount of first-order divergence: both rules that apply to stolen goods and those that apply to embezzled goods vary widely …

I Promise To Pay, Joshua Mitts

Faculty Scholarship

Consumers are more likely to keep a repayment promise they make themselves. When a scheduling conflict prevents a borrower from attending a mortgage closing, a power of attorney (POA) empowers a third party to promise that the borrower will repay the loan. On a matched sample of POA and non-POA loans, and comparing within borrower and within property, I link POAs to greater delinquency and foreclosure. Although POAs are uncorrelated with cash flow shocks, they reflect reduced promise keeping when borrowers undergo financial distress. This association vanishes for originator-servicers’ loans, which suggests that financial intermediation plays a role in consumer …

The Promised Land Is On The Horizon: The Fix Crowdfunding Act Will Implement Small Changes That Could Make A Big Impact On Investors And Businesses Alike, Michaela Smith

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

Implementing A Portable Reciprocity Passport To Crowdfund Real Estate Across Borders, Raymond Tran

The Journal of Business, Entrepreneurship & the Law

No abstract provided.

Tribal Tools & Legal Levers For Halting Fossil Fuel Transport & Exports Through The Pacific Northwest, Mary Christina Wood

American Indian Law Journal

As alarming scientific predictions crystallize into the realities of today’s climate crisis, tribal communities in the Pacific Northwest find themselves on the front lines of a global assault launched by the fossil fuel industry. Encouraged by President Trump’s declaration of intent to unleash $50 trillion of America’s domestic fossil fuels, corporations push for massive expansion of the nation’s fossil fuel infrastructure—even as the world races towards irrevocable climate thresholds. The unprecedented onslaught hinges on the Pacific Northwest as a key link in a global market scheme. The coastal region sits as a proposed industrial gateway for huge export facilities transporting …

The Superior Solution To The “Denominator Problem” — Comparing The Majority And Dissent’S Property Benchmark Tests In Murr V. Wisconsin With A Focus On Property Owners’ Reasonable Expectations, Rosemary K. Mcguirk

William & Mary Bill of Rights Journal

No abstract provided.

Regulating Short-Term Accommodation Within Condominium, Douglas C. Harris

All Faculty Publications

Owning land within condominium, or strata property as it is known in British Columbia, includes holding an individual strata lot, a share of the common property, and the right to participate in governing the uses of the private and common property. Owners participate in governing through membership and voting rights in a strata corporation which has the responsibility to maintain the common property and the authority to establish bylaws that restrict the use of the common and private property. The corollary of membership and a voice in the affairs of the strata corporation is a duty to accept its governing …

Martin V. United States, Mitch L. Werbell V

Public Land & Resources Law Review

In Martin v. United States, the Federal Circuit Court dismissed a Fifth Amendment regulatory takings and exaction claim for want of ripeness when the claimant failed to apply for a permit, which would have allowed for an assessment of the cost of compliance with governmentally imposed requirements. By finding the claim unripe, the court stood firm on the historical view that federal courts may only adjudicate land-use regulatory takings and inverse condemnation claims on the merits after a regulating entity has made a final decision. However, jurisprudential evolution of the ripeness doctrine and judicial review of takings claims may …

Populist Placemaking: Grounds For Open Government-Citizen Spatial Regulating Discourse, Michael N. Widener

West Virginia Law Review

No abstract provided.

Hb 121 - Property, Wills, Trusts, And Estates, Colt Burnett, Ben Dell'orto

Georgia State University Law Review

The Act amends several aspects of trust law, including updating the application of the Uniform Statutory Rule Against Perpetuities in Georgia by extending the time within which a nonvested property interest or power of appointment must vest from 90 to 360 years. The Act also allows for modifications of a trust without judicial approval in some cases. Many passages are simplified, including the calculation of compensation for a trustee, which can now be modified through different procedures. Finally, the Act codifies the role of trust directors.

Sb 301 - Wills, Trusts, And Administration Of Estates, Morgan S. Ownbey, Paul M. Napolitano

Georgia State University Law Review

The Act creates the “Revised Uniform Fiduciary Access to Digital Assets Act,” extends fiduciaries’ powers to include managing tangible property and digital assets, and provides conforming cross-references for a conservator.