DOCSLIB.ORG

Property a Law2112

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Property a Law2112 PROPERTY A LAW2112 FIXTURES V CHATTELS Define fixture: Chattels ‘so attached to the land’ it becomes a part of the land.’ Fixtures automatically pass with the conveyance of the land. o S18 Property Law Act (1958): land includes “…corporeal hereditaments...” i.e. fixtures o S38 Interpretation of Legislation Act (1984) – includes buildings and other structures permanently affixed to land. Define chattel: Personal property that can be moved, not affixed to the land. Chattels can become fixtures by a third party if they are the actual rights holder of the property. i.e. furniture, household appliances. Ø Doctrine of Fixtures Test 1. Identify who is arguing fixture, and who is arguing chattel. 2. Role of presumptions: “Whatever is affixed to the soil becomes part of the soil”. – NAB V Blacker (2000) If object is fixed to the land other than by its own weight, presumption it’s a fixture. (Belgrave) If object rests on its own weight, presumption it’s a chattel (Belgrave) i. If attachment, onus of evidence is on person who wants it to be a chattel (NAB) ii. If no attachment, onus is on person who wants it to be a fixture (NAB) 3. Consider: Was there already a contract in place detailing with the nature of the object in question? – If not, apply common law tests (BelgraVe; NAB). a. Degree of annexation test – Extent the chattel has been affixed to the land. i. Mode and structure of annexation: Degree to which it is annexed to the land. For example in Leigh v Taylor – tapestries were fastened to canvas by tracKs. The court held that tapestries’ retained their character as chattels and formed part of the personal estate, even though they were affixed to the wall, this was the only way they could be enjoyed. ii. Effect of removal à Easily removed = Chattel à Difficult to remove, incurs damage = Fixture iii. Cost If cost of removal would exceed value of the attached property = fixture b. Object of annexation (Objective test) An object becomes a fixture if it has been placed or attached on the land as an improvement to the land. According to Conti J, the object of annexation can be identified by: i. For what purpose was it attached? a. Better use of the land à Fixture b. For the object itself à Chattel i.e. Leigh v Taylor ii. Was it intended to be there temporarily or permanently? “If it cannot be detached without substantial injury to the object or to what it is attached – this is evidence that it is a permanent fixture” iii. Nature of the chattel i.e. is it an essential part of the premises? Some items have an inherent nature which make them a chattel or a fixture. In Belgrave an air conditioner necessitated an essential part of the premises. iv. Function of annexation: Purpose of annexing the object. Need to looK at the objective intention. Ø RemoVal of Fixtures 1. Common Law o Tenant can install fixtures without contract. o REMOVAL of fixtures: a tenant can remove a fixture installed by them during the term that it is a ‘trade’, ‘domestic’ or ‘ornamental’ fixture. o NOTE: Statutes generally override CL rules* 2. S154A Property Law Act àOnly applies to commercial leases, farms etc. (1) A tenant who at his or her own cost or expense has installed fixtures on, or renovated, altered or added to, a rented premises owns those fixtures, renovations, alterations or additions and may remove them before the relevant agreement terminates or during any extended period of possession of the premises, but not afterwards. (2) A tenant who removes any fixtures, renovations, alterations or additions under subsection (1) must— (a) restore the premises to the condition they were in immediately before the installation, renovation, alteration or addition, fair wear and tear excepted; or (b) pay the landlord an amount equal to the reasonable cost of restoring the premises to that condition. (3) This section does not apply to the extent that— (a) the lease otherwise provides; or (b) the landlord and the tenant otherwise agree. 3. S64 Residential Tenancy Act à Applies to leases, residential tenancies of any kind. (1) A tenant must not, without the landlord's consent (a) install any fixtures on the rented premises; or (b) make any alteration, renovation or addition to the rented premises. (2) Before a tenancy agreement terminates, a tenant who has installed fixtures on or renovated, altered or added to the rented premises (whether or not with the landlord's written consent) must— (a) restore the premises to the condition they were in immediately before the installation, renovation or addition, fair wear and tear excepted; or (b) pay the landlord an amount equal to the reasonable cost of restoring the premises to that condition. (3) Subsection (2) does not apply if— (a) the tenancy agreement otherwise provides; or (b) the landlord and the tenant otherwise agree 4. Sale of land situation o AFTER a contract is entered into: fixture may not be removed from the land. A chattel may be removed from the land at anytime by the owner of the chattel subject to any terms of the contract between the parties. o BEFORE a contract of sale is entered into: owners of the land who attach fixtures to their own land may remove them at any time before entering into a contract to sell the land is entered to. DOCTRINE OF WASTE Define: Owners of limited interest are limited in their use of the land, for the sake of protecting the land and future interests in it. o “In order to prove waste you must prove an injury to the inheritance” – Jessel MR Ø Voluntary Waste Positive acts causing harm to the land. • Liability will be presumed (S132A(1) unless an instrument specifically exempts liability S132(2) PLA. • Per S1321(3), damages to be given to remainderman or reversioner. o S132A(1) PLA - Subject to subsection (2), a tenant for life or lives term of years at will or otherwise shall not commit voluntary waste. o S132(2) PLA Nothing in subsection (1) shall apply to any estate or tenancy without impeachment of waste, or affect any licence or other right to commit waste. o S132A(3) PLA A tenant who infringes subsection (1) shall be liable in damages to his remainderman or reversioner but this section imposes no criminal liability. o S132A(4) PLA This section does not affect the operation of any event which may determine a tenancy at will. Ø Equitable Waste Intentional and serious harm is done to the property. • Even if instrument exempts liability, liability is still found in equity because it is so ‘gross’ and ‘recKless’ that it is ‘wanton vandalism’. i.e. stripping a building of glass, doors, boords, removing trees providing shelter. o Exception: If instrument makes it extremely clear that there is a clear intention to contract out of liability (S133PLA) An estate for life without impeachment of waste shall not confer upon the tenant for life any right to commit waste of the description Known as equitable waste, unless an intention to confer such right expressly appears by the instrument creating such estate. Ø Permissable Waste Omission/allowing of harm to take place. i.e. failure to repair. • Presumption that there is no liability unless the instrument specifically creates liability (S132A(5) o S132A(5) No tenant shall be liable in damages for permissive waste for which he would not have been liable if this section had not been enacted. Ø Ameliorating Waste Alteration to the land which constitutes an improvement to the land. o Unclear law – most liKely no liability, or nominal damages o Consider (1) severity of changes, (2) costs of rectification and (3) reasonableness of improvement. EASEMENTS Define: A right/type of servitude interest to make a particular use or carry a certain activity on another person’s property, or restrict the use of the land by the person who owns it without giving right of possession (hence an incorporeal hereditament), but is a property right which can be enforced against a third party. • Right in rem which runs with the land when it is sold/transferred (S42(2)(d) TLA) Notwithstanding anything in the foregoing the land which is included in any folio of the Register or registered instrument shall be subject to – any easements howsoever acquired subsisting over or upon or affecting the land. • Easements “howsoever acquired” are exceptions to indefeasibility under the Torrens System in Victoria. This means that they run with the burdened land whether they are registered or not. Key terms: • Easement ‘in gross’: Easements not particular attached to land, but created by statute • Easement ‘appurtenant’: Something attached to land, that particular piece of land that they need to use. CHARACTERISTICS/IS THERE AN EASEMENT? (Ellenborough, affirmed in Riley) 1. Dominant tenement (DT)/ Servient Tenement (ST) • State whose land is ‘burdened’ and whose land is benefited. • Note: An instrument creating the easement need not expressly identify the DT although it must be capable of being identified by the surrounding circumstances. o PLA s197: Certain rights of road made appurtenant Where easement granted, it attaches to the property not the particular individual/person/entity (aka. Not a right in gross) Whenever in any conveyance of land or in any deed of grant a right to use any road or way has been granted to the purchaser or to the grantee his heirs and assigns, such right, although it be not granted into out of and from the land conveyed to the purchaser or described in the deed as owned by the grantee, shall nevertheless be deemed to be a right appurtenant to the land conveyed or owned as the case may be and every part thereof and not a right in gross .
Load more

Recommended publications
  • Duty of Care for the Bona Fide Prospective Purchaser Exemption from Cercla Liability
    BROWNFIELDS REMEDIATED? HOW THE BONA FIDE PROSPECTIVE PURCHASER EXEMPTION FROM CERCLA LIABILITY AND THE WINDFALL LIEN INHIBIT BROWNFIELD REDEVELOPMENT FENTON D. STRICKLAND* INTRODUCTION Communities across the nation suffer from the negative impacts of abandoned, underused, and potentially contaminated properties called “brownfields.”1 The term “brownfield” generally refers to “real property, the expansion, redevelopment, or reuse of which may be complicated by the presence or potential presence of a hazardous substance, pollutant, or contaminant.”2 According to a report prepared for the Environmental Protection Agency (EPA) in 2003 by Environmental Management Support, Inc., the number of brownfields in the United States ranges from 450,000 to 1,000,000.3 In the early 1990s, the U.S. Conference of Mayors labeled brownfields “one of the most critical problems facing U.S. [c]ities.”4 The appearance of abandoned properties in metropolitan areas may puzzle the typical uninformed resident. However, property developers, lending institutions, governments, lawyers, environmental agencies, and real estate professionals understand the primary reason for the condition. Developers are “hesitant to redevelop brownfields because of the investment risk and potential liability for cleanup costs.”5 This uncertainty, which causes apprehension for parties who might otherwise be inclined to redevelop brownfields, is a by-product of the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 (CERCLA).6 In recognition of the serious impact that the brownfield problem has had, as well as how uncertainty about liability has contributed to the problem, Congress, in 2002, enacted the Small Business Liability Relief and Brownfields Revitalization * J.D. Candidate, 2005, Indiana University School of Law—Indianapolis; B.S., 1994, Indiana University, Bloomington, Indiana.
    [Show full text]
  • Doctrines of Waste in a Landscape of Waste
    Missouri Law Review Volume 72 Issue 4 Fall 2007 Article 8 Fall 2007 Doctrines of Waste in a Landscape of Waste John A. Lovett Follow this and additional works at: https://scholarship.law.missouri.edu/mlr Part of the Law Commons Recommended Citation John A. Lovett, Doctrines of Waste in a Landscape of Waste, 72 MO. L. REV. (2007) Available at: https://scholarship.law.missouri.edu/mlr/vol72/iss4/8 This Conference is brought to you for free and open access by the Law Journals at University of Missouri School of Law Scholarship Repository. It has been accepted for inclusion in Missouri Law Review by an authorized editor of University of Missouri School of Law Scholarship Repository. For more information, please contact [email protected]. Lovett: Lovett: Doctrines of Waste Doctrines of Waste in a Landscape of Waste John A. Lovett* I. INTRODUCTION One of the virtues of William Stoebuck and Dale Whitman's seminal hornbook, The Law of Property, is its extensive treatment of the subject of waste. ' Using half of a chapter, Stoebuck and Whitman introduce their read- ers to one of the great subjects of the common law of property, one that at- 2 3 4 tracted the attention of Coke, Blackstone, Kent, and many others. Their detailed analysis of the subject, which provides a general historical overview, a discussion of the seminal voluntary waste cases, Melms v. Pabst Brewing Co.,5 and Brokaw v. Fairchild,6 and a presentation of the legal and equitable remedies for waste, may strike some readers as old-fashioned. Although one recent law review article has called attention to several early nineteenth century waste cases, 7 relatively little contemporary academic scholarship has addressed waste doctrine in depth.
    [Show full text]
  • 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.
    [Show full text]
  • STATE of MAINE EXECUTIVE DEPARTMENT STATE PLANNIJ'\G OFFICE 38 STATE HOUSE STATION AUGUSTA, MAINE 043 3 3-003Fi ANGUS S
    MAINE STATE LEGISLATURE The following document is provided by the LAW AND LEGISLATIVE DIGITAL LIBRARY at the Maine State Law and Legislative Reference Library http://legislature.maine.gov/lawlib Reproduced from scanned originals with text recognition applied (searchable text may contain some errors and/or omissions) Great Pond Tasl< Force Final Report KF 5570 March 1999 .Z99 Prepared by Maine State Planning Office I 84 ·State Street Augusta, Maine 04333 Acknowledgments The Great Pond Task Force thanks Hank Tyler and Mark DesMeules for the staffing they provided to the Task Force. Aline Lachance provided secretarial support for the Task Force. The Final Report was written by Hank Tyler. Principal editing was done by Mark DesMeules. Those offering additional editorial and layout assistance/input include: Jenny Ruffing Begin and Liz Brown. Kevin Boyle, Jennifer Schuetz and JefferyS. Kahl of the University of Maine prepared the economic study, Great Ponds Play an Integral Role in Maine's Economy. Frank O'Hara of Planning Decisions prepared the Executive Summary. Larry Harwood, Office of GIS, prepared the maps. In particular, the Great Pond Task Force appreciates the effort made by all who participated in the public comment phase of the project. D.D.Tyler donated the artwork of a Common Loon (Gavia immer). Copyright Diana Dee Tyler, 1984. STATE OF MAINE EXECUTIVE DEPARTMENT STATE PLANNIJ'\G OFFICE 38 STATE HOUSE STATION AUGUSTA, MAINE 043 3 3-003fi ANGUS S. KING, JR. EVAN D. RICHERT, AICP GOVERNOR DIRECTOR March 1999 Dear Land & Water Resources Council: Maine citizens have spoken loud and clear to the Great Pond Task Force about the problems confronting Maine's lakes and ponds.
    [Show full text]
  • Real Property Co-Ownership and Mineral Developments
    University of Tulsa College of Law TU Law Digital Commons Articles, Chapters in Books and Other Contributions to Scholarly Works 1997 A Tale of Two Owners: Real Property Co- Ownership and Mineral Developments Marla Mansfield Follow this and additional works at: http://digitalcommons.law.utulsa.edu/fac_pub Part of the Oil, Gas, and Mineral Law Commons Recommended Citation 43 Rocky Mtn. Min. L. Inst. 20-1 (1997). This Article is brought to you for free and open access by TU Law Digital Commons. It has been accepted for inclusion in Articles, Chapters in Books and Other Contributions to Scholarly Works by an authorized administrator of TU Law Digital Commons. For more information, please contact [email protected]. --- STITUTE 19-60 ' gas might not attract as Chapter 20 :re stated to be a penalty A TALE OF TWO OWNERS: zlements of the definition REAL PROPERTY GO-OWNERSHIP AND MINERAL DEVELOPMENT y. If Shipper delivers Unautho- r's System, then such Unautho- ned by, the Unauthorized Gas @MarlaE. Mansfield it of Policies and Procedures. Professor of Law The University of Tulsa, College of Law t doesn't meet all of the Tulsa, Oklahoma r scheduled gas. Because to that unauthorized gas statement of Policies and Synopsis :opy of that Statement of .e agreement is signed, Q 20.01 Introduction ;o revise it later, without !asily make unauthorized [I] The Concept of Owning Together n those specified in the [21 Inherent Problems with Concurrent Ices. A general require- Ownership acts might limit Gather- Q 20.02 Tenants-in-Common and Non-Mineral [re
    [Show full text]
  • Landlord/Tenant Law
    LANDLORD/TENANT LAW Choices for Eviction When a landlord wants a resident to move out, certain procedures must be followed. This page provides a brief description of the various options available to landlords under Washington law. Each option has a specific legal process which must be followed. For a complete definition of eviction options and serving process, review the latest version of the Residential Landlord-Tenant Act for the State of WashingtonB Revised Code of Washington, Title 59. 1. FOR NOT PAYING RENT. If the resident is even one day behind in rent, the landlord can issue a three-day notice to pay rent or vacate. If the resident pays all the rent due within three days, the landlord must accept it and can not evict the resident. A landlord is not required to accept a partial payment. 2. FOR NOT COMPLYING WITH TERMS OF THE RENTAL AGREEMENT. If a resident is not complying with the rental agreement (for example, keeping a cat when the agreement specifies no pets or unauthorized people are living in the rental), the landlord can give a ten-day notice to comply or vacate. If the resident remedies the situation within that time, the landlord can not continue with the eviction process. 3. FOR CREATING A WASTE, NUISANCE, OR ILLEGAL ACTIVITY. If a resident destroys the landlord’s property, uses the premises for unlawful activity including drug-related activities, damages the value of the property or interferes with other resident’s use of the property, the landlord can issue a three-day notice for waste, nuisance or illegal activity.
    [Show full text]
  • Do Landfills Always Depress Nearby Property Values? by Richard C
    Do Landfills Always Depress Nearby Property Values? by Richard C. Ready May, 2005 Rural Development Paper No. 27 ©2005 The Northeast Regional Center for Rural Development Located at: The Pennsylvania State University 7 Armsby Building, University Park, PA 16802-5602 Phone: 814-863-4656 FAX: 814-863-0586 E-mail: [email protected] URL: http://www.cas.nercrd.psu.edu “Contributing to the well-being of small towns and rural communities.” Do Landfills Always Depress Nearby Property Values? Richard C. Ready Contact info: Richard C. Ready 112-A Armsby Building Department of Agricultural Economics and Rural Sociology The Pennsylvania State University University Park, PA 16802 Tlf: 814-863-5575 Fax: 814-865-3746 Email: [email protected] Leading Footnote: Richard Ready is Associate Professor of Agricultural and Environmental Economics, Pennsylvania State University. This research was supported in part by a grant from the Northeast Regional Center for Rural Development. Do Landfills Always Depress Nearby Property Values? ABSTRACT All available hedonic pricing estimates of the impact of landfills on nearby property values are assembled, including original estimates for three landfills in Pennsylvania. A meta- analysis shows that landfills that accept high volumes of waste (500 tons per day or more) decrease adjacent residential property values by 12.9%, on average. This impact diminishes with distance at a gradient of 5.9% per mile. Lower-volume landfills decrease adjacent property values by 2.5%, on average, with a gradient of 1.2% per mile. 20-28% of low-volume landfills have no impact at all on nearby property values, while all high-volume landfills negatively impact nearby values.
    [Show full text]
  • The Duty to Maintain
    SHOKED IN PRINTER (DO NOT DELETE) 11/18/2014 6:30 PM THE DUTY TO MAINTAIN NADAV SHOKED† ABSTRACT Property is closely associated with freedom. Following the demise of the feudal property system, property ownership in Anglo-American law came to imply an individual’s freedom to act as she pleases on her land. For their part, modern property theories—whether right-based, utilitarian, or relational—employ the normative value of freedom to justify ownership. Courts and scholars have always acknowledged the fact that this freedom of the owner cannot be absolute: an owner’s freedom to do as she pleases on her land is often limited to protect other owners. However, the consensual assumption remains that an owner is not subject to affirmative duties. She is free, according to conventional wisdom, to choose to do nothing with her property. This Article argues that this assumption is simply wrong. Owners are not free to ignore their land. Property law has always subjected them to an obligation to maintain their land up to a specific standard. This obligation, dubbed here “the duty to maintain,” is enforced through an array of legal rules and practices. This Article chronicles these rules and practices for the first time, classifying them in accordance with the enforcement mechanism they employ. It then justifies these diverse rules and practices—and the general duty to maintain—in light of the different theories of property. In this fashion, this Article illustrates that ownership, both as a legal institution and as a normative concept, inherently and inevitably incorporates a duty to maintain.
    [Show full text]
  • Env. Easement
    County: Queens Site No: S241115 Order on Consent Index: A2-0830-14-03 ENVIRONMENTAL EASEMENT GRANTED PURSUANT TO ARTICLE 71, TITLE 36 OF THE NEW YORK STATE ENVIRONMENTAL CONSERVATION LAW THIS INDENTURE made this f :ift.; day of nz~ ,20/S, between Owner(s) Waste Management of New York, LLC, a Delawar~imited liability company, having an office at 720 E. Butterfield Road, County of DuPage, State of Illinois (the "Grantor"), and The People of the State of New York (the ''Grantee."), acting through their Commissioner of the Department of Environmental Conservation (the "Commissioner", or "NYSDEC" or "Department" as the context requires) with its headquarters located at 625 Broadway, Albany, New York 12233, WHEREAS, the Legislature of the State of New York has declared that it is in the public interest to encourage the remediation of abandoned and likely contaminated properties ("sites") that threaten the health and vitality of the communities they burden while at the same time ensuring the protection of public health and the environment; and WHEREAS, the Legislature of the State of New York has declared that it is in the public interest to establish within the Department a statutory environmental remediation program that includes the use of Environmental Easements as an enforceable means of ensuring the performance of operation, maintenance, and/or monitoring requirements and the restriction of future uses of the land, when an environmental remediation project leaves residual contamination at levels that have been determined to be safe for
    [Show full text]
  • Off-Record Risks for Bona Fide Purchasers of Interests in Real Property
    Volume 72 Issue 1 Dickinson Law Review - Volume 72, 1967-1968 10-1-1967 Off-Record Risks for Bona Fide Purchasers of Interests in Real Property Ralph T. Straw Jr. Follow this and additional works at: https://ideas.dickinsonlaw.psu.edu/dlra Recommended Citation Ralph T. Straw Jr., Off-Record Risks for Bona Fide Purchasers of Interests in Real Property, 72 DICK. L. REV. 35 (1967). Available at: https://ideas.dickinsonlaw.psu.edu/dlra/vol72/iss1/3 This Article is brought to you for free and open access by the Law Reviews at Dickinson Law IDEAS. It has been accepted for inclusion in Dickinson Law Review by an authorized editor of Dickinson Law IDEAS. For more information, please contact [email protected]. OFF-RECORD RISKS FOR BONA FIDE PURCHASERS OF INTERESTS IN REAL PROPERTY By RALPH L. STRAW, JR.* Introduction I. Forgeriesand Frauds A. Forged Instruments B. FraudulentReleases C. Defrauding of a Grantor II. Incapacity of a Grantor A. Mental Incapacity of a Grantor B. Infant Grantor C. Legal Incapacity II. Lack of an Essential Formality in the Execution of an Instrument A. Lack of Delivery B. Lack of Acknowledgment IV. Mechanics' Liens V. UnrecordedFamily Rights A. Dower B. Rights of Pretermittedor After-Born Children C. Community Property Rights VI. PriorAdverse Possessionand Undisclosed Easements A. PriorAdverse Possession B. Undisclosed PrescriptiveEasements C. Undisclosed Implied Easements VII. Failure to Inquire with respect to Possession Not on its Face Inconsistent with Purchaser'sRights VIII. Tolled Limitations Periods IX. Prior Holder in Chain of Title Senior in Record but Junior in Time of Actual Notice X.
    [Show full text]
  • Strata Management Act 2013 Strata Management (Maintenance and Management) Regulations 2015
    THIRD SCHEDULE STRATA MANAGEMENT ACT 2013 STRATA MANAGEMENT (MAINTENANCE AND MANAGEMENT) REGULATIONS 2015 (Regulations 5 and 28) PART 1 PRELIMINARY 1. Application. The by-laws set out in this Third Schedule and any additional by-laws made under the Strata Management Act 2013 (“the Act”) shall bind the developer, the joint management body, the management corporation or the subsidiary management corporation, as the case may be, and the purchaser, parcel owners or proprietors, and any charge or assignee, lessee, tenant or occupier of a parcel to the same extents as if the by-laws or if additional by-laws have been signed or sealed by each of the person or body mentioned above and contain mutual covenants to observed, comply and perform all the provisions of the by-laws or additional by-laws. These by-laws shall apply to any development area: (a) during the management by the developer before to joint management body is establish, under Chapter 2 of Part IV of the Act; (b) during the management by the joint management body, under Chapter 3 of Part IV of the Act; (c) during the management by the developer before the first annual general meeting of the management corporation, under Chapter 2 0of Part V of the Act; (d) during the management by the management corporation after first annual general meeting of the management corporation under Chapter 3 of Part V of the Act; and (e) during the management by the subsidiary management corporation after it has been establish in respect of the limited common property under Chapter 4, of Part V of the Act.
    [Show full text]
  • Comment on Merrill on the Law of Waste
    University of Chicago Law School Chicago Unbound Journal Articles Faculty Scholarship 2011 Comment on Merrill on the Law of Waste Richard A. Posner Follow this and additional works at: https://chicagounbound.uchicago.edu/journal_articles Part of the Law Commons Recommended Citation Richard A. Posner, "Comment on Merrill on the Law of Waste," 94 Marquette Law Review 1095 (2011). This Article is brought to you for free and open access by the Faculty Scholarship at Chicago Unbound. It has been accepted for inclusion in Journal Articles by an authorized administrator of Chicago Unbound. For more information, please contact [email protected]. COMMENT ON MERRILL ON THE LAW OF WASTE RICHARD A. POSNER I have been asked to comment on Professor Thomas Merrill's article about the doctrine of waste in the common law of property,' and specifically about his criticism2 of the approach to that doctrine that I take in my book Economic Analysis of Law.3 I shall summarize that approach (with a bit of amplification because the discussion of the doctrine of waste in my book occupies less than a page) and Merrill's criticism, and then offer a brief rejoinder. I discuss the application of the doctrine only to the competing interests of life tenants and remaindermen. (The doctrine has a broader scope, as Merrill's article shows.) The incentive of a life tenant is to maximize not the value of the property-that is, the present value of the entire stream of future earnings obtainable from it-but only the present value of the earnings stream obtainable during his expected lifetime.
    [Show full text]