Theo Mode of Acqusition Types of Prop Ch 3

Theoretical Modes of Acquiring Ownership

• Property can be acquired through several methods:

  • Possession

  • Prescription

  • Agreement

  • Inheritance

Possession

• Definition: Physical control exercised by a person over a thing; signifies the claim to exclusive use.

• Types of Possession:

  • Corpus Possession: Physical power to exclude interference and secure enjoyment of the property.

  • Animus Possession: Mental intention to use the property. Examples:

    • A servant using property on behalf of their master.

    • An agent using on behalf of the principal.

Prescription

• Definition: Acquiring rights by enjoying them peaceably without interruption over a property for a continuous period.

• Legal Principle: Owners are often possessors; long possession increases eventual rights.

Types of Prescription

• Positive or Acquisitive Prescription: Creation of a legal right by the passage of time.

• Negative or Extinctive Prescription: Destruction of a right by the passage of time.

• Common Principle: "Long possession creates rights, and long absence destroys them."

Types of Property

• All property belongs to one of three categories:

  1. Real Property

  2. Personal Property

  3. Intellectual Property

Real Property

• Definition: Land and things affixed to it, such as buildings and plants.

  • Includes mineral rights and air-space rights.

  • Legal Perspectives:

    • Common Law: Ownership of the surface.

    • Civil Law: Ownership extends to everything under and above the earth.

      • Civil Law Principle: "Who owns the soil owns the heavens and the earth."

Rights of Real Property Owners

• Owners have various rights, provided they adhere to laws:

  1. Right of Enjoyment: Use the property as desired.

  2. Right of Exclusion: Control who can access the property.

  3. Right of Possession: Live on the property.

  4. Right of Disposition: Transfer ownership.

  5. Right of Control: Modify or rent the property, and make legal decisions regarding it.

Limitations of Property Rights

• Legal restrictions may override owner’s rights:

  • Easements: Legal recognition of third-party rights to access land, potentially overriding exclusion rights. Examples:

    • Public parking requirements.

    • Community gardens in residential complexes.

  • Expropriation: State's power to take property for public use with fair compensation.

  • Property Development Limitations: Regulations on building dimensions or aesthetics imposed by the state.

  • Destruction of Antiquities: Protection of historical items and sites from destruction.

Personal Property

• Definition: Movable tangible and intangible items owned by individuals.

• Examples of Personal Property:

  • Clothing and jewelry.

  • Household items like furniture and appliances.

  • Vehicles (cars, trucks, boats).

  • Financial assets (bank accounts, stocks).

• Similarities to Real Property: Both types can be sold, gifted, or used as loan collateral.

Intellectual Property (IP)

• Definition: Rights in inventions and creative works.

• Types of IP Protection:

  1. Patents: For inventions.

  2. Copyrights: For creative works (books, music, films).

  3. Trademarks: Logos and brand names.

  4. Trade Secrets: Confidential business information (e.g., recipes).

• Purpose of Protection: Rewards for creators for their inventions and artistic contributions.