© Laura E. Ayers, Esq. Handout for Easement Law in New York
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Business Personal Property
FAQs Business Personal Property What is a rendition for Business Personal Property? A rendition is simply a form that provides the District with the description, location, cost, and acquisition dates for personal property that you own. The District uses the information to help estimate the market value of your property for taxation purposes. Who must file a rendition? Renditions must be filed by: Owners of tangible personal property that is used for the production of income Owners of tangible personal property on which an exemption has been cancelled or denied What types of property must be rendered? Business owners are required by State law to render personal property that is used in a business or used to produce income. This property includes furniture and fixtures, equipment, machinery, computers, inventory held for sale or rental, raw materials, finished goods, and work in progress. You are not required to render intangible personal property (property that can be owned but does not have a physical form) such as cash, accounts receivable, goodwill, application computer software, and other similar items. If your organization has previously qualified for an exemption that applies to personal property, for example, a religious or charitable organization exemption, you are not required to render the exempt property. When and where must the rendition be filed? The last day to file your rendition is April 15 annually. If you mail your rendition, it must be postmarked by the U. S. Postal Service on or before April 15. Your rendition must be filed at the appraisal district office in the county in which the business is located, unless the personal property has situs in a different county. -
The Law of Property
THE LAW OF PROPERTY SUPPLEMENTAL READINGS Class 14 Professor Robert T. Farley, JD/LLM PROPERTY KEYED TO DUKEMINIER/KRIER/ALEXANDER/SCHILL SIXTH EDITION Calvin Massey Professor of Law, University of California, Hastings College of the Law The Emanuel Lo,w Outlines Series /\SPEN PUBLISHERS 76 Ninth Avenue, New York, NY 10011 http://lawschool.aspenpublishers.com 29 CHAPTER 2 FREEHOLD ESTATES ChapterScope ------------------- This chapter examines the freehold estates - the various ways in which people can own land. Here are the most important points in this chapter. ■ The various freehold estates are contemporary adaptations of medieval ideas about land owner ship. Past notions, even when no longer relevant, persist but ought not do so. ■ Estates are rights to present possession of land. An estate in land is a legal construct, something apart fromthe land itself. Estates are abstract, figments of our legal imagination; land is real and tangible. An estate can, and does, travel from person to person, or change its nature or duration, while the landjust sits there, spinning calmly through space. ■ The fee simple absolute is the most important estate. The feesimple absolute is what we normally think of when we think of ownership. A fee simple absolute is capable of enduringforever though, obviously, no single owner of it will last so long. ■ Other estates endure for a lesser time than forever; they are either capable of expiring sooner or will definitely do so. ■ The life estate is a right to possession forthe life of some living person, usually (but not always) the owner of the life estate. It is sure to expire because none of us lives forever. -
Anatomy of a Will
PRESENTED AT 18th Annual Estate Planning, Guardianship and Elder Law Conference August 11‐12, 2016 Galveston, Texas ANATOMY OF A WILL Bernard E. ("Barney") Jones Author Contact Information: Bernard E. ("Barney") Jones Attorney at Law 3555 Timmons Lane, Suite 1020 Houston, Texas 77027 713‐621‐3330 Fax 713‐621‐6009 [email protected] The University of Texas School of Law Continuing Legal Education ▪ 512.475.6700 ▪ utcle.org Bernard E. (“Barney”) Jones Attorney at Law 3555 Timmons Lane, Suite 1020 • Houston, Texas 77027 • 713.621.3330 • fax 832.201.9219 • [email protected] Professional ! Board Certified, Estate Planning and Probate Law, Texas Board of Legal Specialization (since 1991) ! Fellow, American College of Trust and Estate Council (elected 1995) ! Adjunct Professor of Law (former), University of Houston Law Center, Houston, Texas, 1995 - 2001 (course: Estate Planning) ! Texas Bar Section on Real Estate, Probate and Trust Law " Council Member, 1998 - 2002; Grantor Trust Committee Chair, 1999 - 2002; Community Property Committee Chair, 1999 - 2002; Subcommittee on Revocable Trusts chair, 1993 - 94 " Subcommittee on Transmutation, member, 1995 - 99, and principal author of statute and constitutional amendment enabling "conversions to community" Education University of Texas, Austin, Texas; J.D., with honors, May 1983; B.A., with honors, May 1980 Selected Speeches, Publications, etc. ! Drafting Down (KISS Revisited) - The Utility and Fallacy of Simplified Estate Planning, 20th Annual State Bar of Texas Advanced Drafting: Estate Planning -
Professor Crusto
Crusto, Personal Property: Adverse Possession, Bona Fide Purchaser, and Entrustment New Admitted Assignment, Monday, May 11, 2020 ************************************** Please kindly complete in writing and kindly prepare for discussion for the online class on Friday, May 15, 2020, the following exercises: I. Reading Assignments (see attached below, following Crusto’s lecture notes): 1. Adverse Possession, Bona Fide Purchaser, Entrustment: pp. 116-118, 151-163: O’Keeffe v. Snyder (see attachment) and 2. Crusto’s Notes (below) II. Exercises: Exercise 1 Based on the cases and the reading assignment (above) and Crusto lecture notes (below), write an “outline” listing five legal issues for the personal property topics of 1. Adverse Possession, Bona Fide Purchaser, and Entrustment, and ten rules and authorities (one word case name or other source). Exercise 2 Answer the following questions, providing a one sentence answer for each question: 1. Provide three examples of personal (not real) property. 2. What are the indicia (evidence) of ownership of personal property? 3. How does a person normally acquire title to personal property? 4. What role does possession play in evidencing ownership of personal property? 5. What is meant by the maxim that “possession is 9/10s of the law”? 6. How, if ever, can a person acquire title to personal property by adverse possession? 7. What is a statute of limitations? 8. What role did the statute of limitations play in the O’Keefe case? 9. How does a person qualify as a bona fide purchaser? 10. What benefits result from such a qualification? 11. What is the rule of discovery? 12. -
Introduction to Law and Legal Reasoning Law Is
CHAPTER 1: INTRODUCTION TO LAW AND LEGAL REASONING LAW IS "MAN MADE" IT CHANGES OVER TIME TO ACCOMMODATE SOCIETY'S NEEDS LAW IS MADE BY LEGISLATURE LAW IS INTERPRETED BY COURTS TO DETERMINE 1)WHETHER IT IS "CONSTITUTIONAL" 2)WHO IS RIGHT OR WRONG THERE IS A PROCESS WHICH MUST BE FOLLOWED (CALLED "PROCEDURAL LAW") I. Thomas Jefferson: "The study of the law qualifies a man to be useful to himself, to his neighbors, and to the public." II. Ask Several Students to give their definition of "Law." A. Even after years and thousands of dollars, "LAW" still is not easy to define B. What does law Consist of ? Law consists of enforceable rule governing relationships among individuals and between individuals and their society. 1. Students Need to Understand. a. The law is a set of general ideas b. When these general ideas are applied, a judge cannot fit a case to suit a rule; he must fit (or find) a rule to suit the unique case at hand. c. The judge must also supply legitimate reasons for his decisions. C. So, How was the Law Created. The law considered in this text are "man made" law. This law can (and will) change over time in response to the changes and needs of society. D. Example. Grandma, who is 87 years old, walks into a pawn shop. She wants to sell her ring that has been in the family for 200 years. Grandma asks the dealer, "how much will you give me for this ring." The dealer, in good faith, tells Grandma he doesn't know what kind of metal is in the ring, but he will give her $150. -
Real & Personal Property
CHAPTER 5 Real Property and Personal Property CHRIS MARES (Appleton, Wsconsn) hen you describe property in legal terms, there are two types of property. The two types of property Ware known as real property and personal property. Real property is generally described as land and buildings. These are things that are immovable. You are not able to just pick them up and take them with you as you travel. The definition of real property includes the land, improvements on the land, the surface, whatever is beneath the surface, and the area above the surface. Improvements are such things as buildings, houses, and structures. These are more permanent things. The surface includes landscape, shrubs, trees, and plantings. Whatever is beneath the surface includes the soil, along with any minerals, oil, gas, and gold that may be in the soil. The area above the surface is the air and sky above the land. In short, the definition of real property includes the earth, sky, and the structures upon the land. In addition, real property includes ownership or rights you may have for easements and right-of-ways. This may be for a driveway shared between you and your neighbor. It may be the right to travel over a part of another person’s land to get to your property. Another example may be where you and your neighbor share a well to provide water to each of your individual homes. Your real property has a formal title which represents and reflects your ownership of the real property. The title ownership may be in the form of a warranty deed, quit claim deed, title insurance policy, or an abstract of title. -
Status of the Opera10r's Lien in Law and in Equity
1987) THE OPERATOR'S LIEN 87 STATUSOF THE OPERA10R'S LIEN IN LAWAND IN EQUITY KAREN L. PETIIFER • This paper examines the Operator's lien. as it is written in the 1981 Canadian Association of Petroleum Landmen Operating Procedure. and the law of Canada. the Commonwealth and the United States to determine the nature ofthe Operator's interest and the steps which the Operator must take to perfect its security and succeed in priority contests with other creditors. I. THE OPERATING AGREEMENT The Canadian Association of Petroleum Landmen ("CAPC') has developed four standard-form Operating Agreements since 1969to govern the legal relationship between Joint-Operators who have participating interests in the petroleum substances leased from either private owners or the Crown. The Agreement is designed to supplement a basic contract among the parties which may address matters such as drilling obligations. 1 It is the Operating Agreement which eventually governs day-to-day operations, including activities such as the drilling, completing, equipping and operating of joint interest wells. The most recent standard-form CAPL Agreement was drafted in 1981 and is used frequently by the industry. Article XV of the Agreement defines the relationship of the parties as tenants in common and not as creating a partnership, joint venture or association. 2 The Joint-Operators collectively agree to appoint one party as the Operator to carry out operations "for the joint account", which means " ... for the benefit, interest, ownership, risk, cost, expense and obligation of the parties hereto in proportion to each party's participating interest" .3 The Operator is granted the control and management of the operation of the joint lands. -
Purchase Price Allocation in Real Estate Transactions
PURCHASE PRICE ALLOCATION IN REAL ESTATE TRANSACTIONS: Does A + B + C Always Equal Value? Morris A. Ellison, Esq. 1 Womble Carlyle Sandridge & Rice, LLP Nancy L. Haggerty, Esq. Michael Best & Friedrich, LLP Purchasers of income-generating real estate generally focus solely on cash flow rather than the individual components generating that cash flow. This seeming truism has not been true either for larger transactions involving substantial personal property or goodwill or in the context of ad valorem taxation where taxing authorities generate separate tax bills, often at different rates, for real property, personal property and business licensing fees. This proposition is becoming less true in the current economic environment, as lenders face increasing regulatory pressure to “take less risk” by separately valuing the components generating the income and valuing the risk separately. Originating primarily in the context of valuing hotel properties for proper determination of the project’s real estate value for ad valorem tax purposes, the concept of component analysis has far broader applications. The Appraisal Institute 2 currently includes as potential additional candidates for component analysis: (i) health care facilities such as hospitals, nursing homes and ambulatory surgical centers; (ii) regional shopping centers, office buildings and apartments; (iii) restaurants and nightclubs; (iv) recreational facilities such as theme parks, theaters, sports venues and golf courses; and (v) manufacturing firms. 3 The purpose of this paper is not to present a study of component analysis bur rather to identify some of the areas where component analysis should be considered. The Concept of Component Analysis Investors typically look primarily at total cash flow without attributing cash flow to specific components. -
SECTION 1.0 Summary of California Water Rights
SECTION 1.0 Summary of California Water Rights 1.1 Types of Water Rights In California, the different types of water rights include: 1.1.1 Prescriptive Water use rights gained by trespass or unauthorized taking that ripen into a title, on a par with rights to land gained through adverse possession.1 1.1.2 Pueblo A water right possessed by a municipality that, as a successor of a Spanish-law pueblo, is entitled to the beneficial use of all needed, naturally occurring surface and groundwater of the original pueblo watershed.2 1.1.3 Groundwater The Dictionary of Real Estate Appraisal, defines groundwater as “all water that has seeped down beneath the surface of the ground or into the subsoil; water from springs or wells.”3 This is an adequate working definition if the “springs or” is eliminated because once water issues out of a spring it becomes surface water, not groundwater. As is also indicated in the following text, it is not water flowing in an underground channel. Groundwater should be thought of as the water that occupies the space between soil particles beneath the surface of the land. Groundwater is extracted exclusively by means of wells. Whenever groundwater reaches the surface in a natural manner, whether through springs or seepage into a surface water stream channel or lake, it ceases to be groundwater and becomes surface water. The jurisdiction of the SWRCB [State Water Resources Control Board] to issue permits and licenses for appropriation of underground water is limited by section 1200 of the California Water Code to “subterranean streams flowing through known and definite channels.” If use of underground water on nonoverlying land is proposed and the source of the water is a subterranean stream flowing in a known and definite channel, an application pursuant to the California Water Code is required. -
Fully, Even If Are Not Essential to the Use Or Purpose of the to His Web Site and Allowing Downloads There Is No Finding of Bad Faith Or Fraud
NEW YORK LAW JOURNAL MONDAY, APRIL 15, 2002 was not fair use, because it was not that attorney’s fees may be awarded in a tectable. While those features were not func- transformative, and was likely to harm the trademark action under the Lanham Act tional in the “traditional sense,” in that they market for Kelly’s work by reducing visitors where the defendant acted willfully, even if are not essential to the use or purpose of the to his Web site and allowing downloads there is no finding of bad faith or fraud. goods and do not affect their cost or without payment of a license fee. Tamko Roofing Products, Inc. v. Ideal Roofing quality, they were functional because pro- Resolving what it described as an issue of Co., Ltd., 282 F.3d 23 (1st Cir. 2002). With hibiting their use would impose a “significant first impression under the 1976 Copyright that holding, it aligned itself with the Eighth non-reputation-related disadvantage” on Act, the Ninth Circuit held that an and Tenth Circuits, and against the Second, American Eagle. Denying competitors access exclusive licensee does not have the right to Fourth and Fifth. Section 35(a) of the to elements of the claimed trade dress, which transfer its rights without the consent of the Lanham Act, 15 U.S.C. §1117(a), allows for included use of words such as “performance” licensor. Gardner v. Nike, Inc., 279 F.3d 774 a fee award in “exceptional” cases. The court and “outdoor” and certain primary color (9th Cir. 2002). In 1992, Nike signed an found that the legislative history of the act combinations, would “prevent effective agreement giving Sony the exclusive right to indicates that “deliberate” and “willful” competition in the market.” use a cartoon character in connection with conduct may make a case “exceptional.” In sound recordings and associated promotional the case before it, a fee award was justified Patents activity. -
Bona Fide Purchaser--Without Title John E
View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by University of Kentucky Kentucky Law Journal Volume 36 | Issue 2 Article 2 1948 Bona Fide Purchaser--Without Title John E. Howe Creighton University Follow this and additional works at: https://uknowledge.uky.edu/klj Part of the Property Law and Real Estate Commons Right click to open a feedback form in a new tab to let us know how this document benefits you. Recommended Citation Howe, John E. (1948) "Bona Fide Purchaser--Without Title," Kentucky Law Journal: Vol. 36 : Iss. 2 , Article 2. Available at: https://uknowledge.uky.edu/klj/vol36/iss2/2 This Article is brought to you for free and open access by the Law Journals at UKnowledge. It has been accepted for inclusion in Kentucky Law Journal by an authorized editor of UKnowledge. For more information, please contact [email protected]. BONA FIDE PURCHASER-WITHOUT TITLE1 By JoHN E. HoWEv The legal mind in time of confusion resorts to the use of ancient maxims and Latin phrases in an effort to bring order from chaos. Unless that mind has a fundamental traming m Latin and Legal History-and few minds have such training- the use of such material tends to further mire the person in the depths of misunderstanding. Judicial decisions based on such reasoning are entirely worthless, as the propounders themselves fail to have a basic concept of the idea or thought that is being advanced. If we seek further we will find that it is not uncommon for the teacher, attorney and student of law to justify decisions of the courts through the use of these phrases. -
Chapter 2– Property Ownership
Chapter 2– Property Ownership Learning Goals: • Define and describe land, real estate, and real property. • Identify and explain the concept of the bundle of legal rights in the ownership of real property. • Define and describe surface rights, subsurface rights, and air rights. • Describe the differences between real property and personal property. • Define and describe the differences between a fixture and a trade fixture. • Identify and apply the legal tests of a fixture. • List and explain the economic and physical characteristics of real property. Chapter 2 VOCABULARY Characteristics of Real Property include: A. Physical characteristics 1. Immobility—the land can be changed, but it cannot be moved 2. Indestructibility—the land can be changed, but it cannot be destroyed 3. Nonhomogeneity—all parcels of land are unique B. Economic characteristics 1. Relative scarcity—land in the imme diate areas may be limited or unavailable 2. Improvements—one property can affect the uses and values of many properties 3. Permanence of investment—real estate investments tend to be long-term and relatively stable 4. Area preference (situs)—refers to people’s preferences and choices in an area C. Real estate characteristics define land use 1. Contour and elevation of the parcel 2. Prevailing winds 3. Transportation 4. Public improvements 5. Availability of natural resources, such as minerals and water ABC Real Estate School 3st ed National Workbook August 2010 Page 19 Land: the surface of the earth plus the subsurface rights, extending downward to the center of the earth and upward infinitely into space; including things permanently attached by nature - such as trees and water.