Master Property I Comprehensive Outline

These flashcards cover the key concepts and terms from the Master Property I Comprehensive Outline, focusing on legal relationships and property rights.

Property

A legal relationship concerning rights, not just the physical item.

Bundle of Sticks

A metaphor for the core rights associated with property: transfer, exclude, use, and destroy.

Right to Transfer

The ability to alienate, sell, gift, or devise property.

Right to Exclude

The right to prevent others from entering or using one's property.

Right to Use

The right to enjoy and profit from one's property.

Right to Destroy

The right to eliminate one's property, subject to limitations by law.

First Possession

The theory that ownership begins with capture of property.

Encourage Labor

A property theory asserting ownership arises from one's labor put into resources.

Maximize Social Happiness

A view that property aids in efficient distribution and security.

Ensure Democracy

The belief that property ownership supports independence from governmental control.

Facilitate Personal Development

The notion that property tied to identity has special significance.

Nuisance

Unreasonable, substantial interference with the use and enjoyment of land.

Lost Property

Ownership is retained by the original owner, but the finder has rights against everyone but the true owner.

Mislaid Property

Property intentionally placed but forgotten; held by the premises owner until reclaimed.

Abandoned Property

Property intentionally relinquished by its owner; finder owns it outright.

Bailment

The delivery and acceptance of personal property for a specific purpose.

Gifts

Transfers of property that require donative intent, delivery, and acceptance.

Adverse Possession

A legal doctrine allowing a person to claim ownership of land after continuous possession under certain conditions.

Air Rights

Legal rights to use space above one's property.

Subsurface Rights

Rights to the land beneath one's property, including minerals and supports.

Water Rights

Legal entitlements to use water from a water source.

Tenants in Common

A form of concurrent estate with undivided fractional shares.

Joint Tenancy

A form of concurrent estate including the right of survivorship.

Tenancy by Entirety

A special form of concurrent estate for married couples with protection from creditors.