...Assignment #1 Real Property Law Assignment #1 Real Property Issue The issue in this case falls under the State laws applicable in Boring, Oregon. Under the applicable contract law, in cases involving reward offers, the person must pay off the reward. Bart agreed to offer a reward on the return of his lost property. Could Bart be retracted from paying off the reward; as it is Alan’s duty to return the property. Can Alan place a condition for the return. In the light of applicable laws in Boring, Oregon and major court precedents; we would attempt to find probable alternatives that could be imposed by a Court of law. Rule Under the State laws applicable in Boring, Oregon; both the finder of the property and the actual owner possess their rights. According to the Oregon Revised Statues (2012): • The ORS § 98.005 (2011) Title 10 under the Property Rights & Transactions of Abandoned Property. The duties and rights of the owner and the finder of the lost property are enforced under the 98.005 Rights & duties under the Oregon Revised Statues. • The section 489 U.S. 1011, 109 S. Ct. 1120, 103 L. Ed. 2d 183, 1989 under Oregon laws covers the rights of the property owner in cases if the property is misplaced or lost. • The present legislations on Real Property and Contract law clearly hold” that the finder of the lost property must find the actual owner of the property. • The law § 98.005 allows the finder to claim the found property if the owner...
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...5 - FREEHOLD COVENANTS Introduction A covenant is a promise made in a deed. In respect of land covenants may be either positive (a promise by one party to the other to do something) or negative/restrictive (a promise by one party to another not to do something). There is a benefit and a burden to every covenant. Covenants for land are created when one person sells a part of his or her land to another and in the contract the parties place obligations upon one another e.g. the seller may insert a clause that prohibits the buyer from building on the land or using the land for a business or requiring the buyer to build and maintain a fence between the properties. The land with the benefit is known as the dominant land and the land with the burden is known as the servient land. Enforcement under Privity of Contract Between the original covenanting parties there will be a contract and under the common law doctrine of privity of contract the party with the benefit will be able to enforce the covenant against the party with the burden. With most contracts the subject matter remains with the original contracting parties but this is not so with land. Both the original parties will pass the land to their successors either by sale or by inheritance. Under the doctrine of privity of contract the benefit may be assigned but the burden cannot pass. Therefore the successor to the owner of the land with the benefit of the covenant cannot enforce the covenant against the successor to the owner...
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...encumber, or otherwise partition our condominium in Gatlinburg, TN without the consent of the other party." In 2012, Mark has some financial difficulties and really needs the money he could get from selling his share of the condo. Anna, who still wants to continue to use the condo, will not give her consent on selling and cannon afford to buy him out. Mark seeks an action to partition the property, stating that the clause that was placed in the divorce agreement is not enforceable because it is an invalid restraint on alienation. There are two issues to address here. The first one is whether or not the agreement Mark and Anna made is an invalid restraint on alienation. Once that issue is addressed, it can be determined if it is enforceable or if the action to partition should be granted. In Connie McGahey v. James Wilson, 2001 Tenn. App. LEXIS 499, McGahey and Wilson had purchased land together as tenants by the entirety while they were married. When they divorced, they entered into a property settlement agreement that included a provision that the parties agreed that the property could not be sold unless both parties gave consent. When Connie sought an action to partition fifteen years later, the special master that was appointed to the case by the trial court found that the agreement was...
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...Notes for Real Property Assignment 2 INVALID RESTRAINT ON ALIENATION: There are five basic conditions that must be met in order for there to be an effective real covenant and equitable servitude: 1. It must be enforceable. To be enforceable it must not be too vague, it must not violate a statute or the constitution, it must not violate public policy, and it must meet the requirements under the statute of frauds. 2. It must touch and concern the land. 3. It must be intended to run. 4. There must be privity between the successive occupants. 5. There must be notice of the existence of a real covenant/equitable servitude. Privity is the legal term for a close, mutual, or successive relationship to the same right of property or the power to enforce a promise or warranty. It is an important concept in contract law. An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land. However, covenants and equitable servitudes should not be confused. One may tell the difference based on the remedy plaintiff seeks. Holders of a covenant seek money damages, but holders of equitable servitudes seek injunctions. “four unities” 1) Time: Both parties must have received the property at the same time 2) Title: Both parties must have received the property via the same written instrument 3) Interest: Both parties must own the same estate in the property 4) Possession:...
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..."Intellectual Property" a Violation of Real Property By memenode on 10 Nov 2009 Unless you really want to believe in something you know is a lie you probably wont be inclined to believe people who express inconsistent ideas. Free Software or Open Source Software have been typically attacked by people who do appear to believe quite strongly in property ownership. If you create something, they would argue, then you are entitled to control it. How else are you gonna get compensated for it? I of course agree to this extent, but I don't quite agree with the typical progression of this argument which sees the fact that most Free Software is given away or distributed under terms which allow free copying and sharing to be an affront to this right to compensation. Ignoring for the moment the fact that the software developer still gets to choose whether to distribute under those terms (something (s)he'd be able to do to a large extent even if copyright was abolished today), this argument fails to take into account the fundamental nature of software which excludes it from the possibility of being owned, unless you consider a program as one with the medium. Software cannot exist on its own. It always needs a medium. Software are simply arrangements of ones and zeros represented one way or another by physical properties of a medium such as micro or nanoscopic dents in a compact disk. If you consider software as distinct from the storage media or memory in which it remains you're essentially...
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...Gulf Real Estate Properties | QUMT 6303 Case Study | | There’s a real estate firm named Gulf Real Estate Properties, Inc. that is in the southwestern part of Florida. This company promotes itself as "expert in the real estate market." They evaluate sales of condos through data collection in relating to the location, list price, sale price, and the number of days it’s on the market prior to being sold. Gulf View classification is a result of a condo being located on the Gulf of Mexico. A No Gulf View classification is due to being located on the bay or a golf course that is not actually on the Gulf. The sample data collected is from the Multiple Listing Service that’s located in Naples, Fl. It contained the sales data of 40 Gulf View condos and 18 No Gulf View condos. For the first two parts of the managerial report, the use of appropriate descriptive statistics is needed to summarize each of the three variables for the 40 Gulf View condos and the same goes for the 18 No Gulf View condos. Based on the data, Gulf View condominiums have a higher average listing price at $474,007.50 than No Gulf View condominiums at $212,805.56. GV condominiums also have a higher median listing price at $437,000 than the NGV condominiums at $212,500. In regards to sale price, the GV are higher in average sales price at $454,222.50 when compared to NGV at $203,188.89. GVs are also higher in median sales price at $417,500 in comparison to NGVs at $203,500. The data indicates...
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...Facts: Barry would like to transfer his property to his wife, Lucy to avoid being vulnerable to creditors. He would like his three heirs to equally inherit the property after his and his wife’s death. Issue: Can Barry convey his property to Lucy and still be assured that the children will obtain the intended interest? How should this be conveyed? What interests should he give to whom? What kind of remainder interests and tenancies should he give to the children? What type of deed is necessary for this conveyance? Rule: The Rule in Shelley’s Case states that a remainder interest cannot be created in the heirs of the holder of the present interest. The theory behind it is that a person should be able to decide what his or her own heirs will inherit and should not have that decision dictated by a grantor of property. The rule has been abolished in most states. The Doctrine of Worthier Title dictates that a grantor cannot create a remainder interest in his own heirs. The idea behind this rule is that a grantor should rather keep a reversion for himself and then distribute the property to his heirs through the normal inheritance methods. The Doctrine of Worthier Title has been abolished in some states, but still exists as law in many other states Analysis: Since Barry doesn’t want the property in his name due to his financial situation, following the Doctrine of Worthier Title idea of keeping the reversion for himself is not a sensible option. The Rule in Shelly’s Case has...
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...Real Property Tax A property tax on local real estate that is calculated according to the fair market value of the real estate. That is, a real property taxis assessed as a percentage of the amount for which the owner would be able to sell the property in the current market. As a result,real property taxes increase when the local property market is bullish and decline when it is bearish. Real property tax. A real property tax is a local tax on the value of real estate. The property may be assessed at full value, which is presumably the price thatthe owner could sell it for in the current market, or using some other valuation method. The taxing agency, such as a county, city, town, or village, sets a tax rate, which is multiplied by the assessed value of each property todetermine the tax due on that property. You may be able to deduct real property taxes on your federal income tax return, but large deductions for real estate taxes are one of thefactors that may result in your owing the alternative minimum tax (AMT). Real property tax is a tax based on the value of the property. Real property taxes are governed by state laws, which vary by state. Appraisals which are the basis for property values can generally be appealed according to local rules. Some of the reasons for appealing a tax assessment include: 1. The assessor's market value estimate is higher than the actual market value. (This claim can be easily supported if you have recently purchased your property.) ...
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...QUESTION 1 ● An inter-vivos gift is different than a Will in that… ○ An inter-vivos gift is only valid if the donor is alive at the time of the gift ○ An inter-vivos gift requires consideration to be binding, while a Will does not ○ A Will is irrevocable, while an inter-vivos gift can be revoked ○ All of the above QUESTION 1 - ANSWER ● An inter-vivos gift is different than a Will in that… ○ An inter-vivos gift is only valid if the donor is alive at the time of the gift – correct answer ○ An inter-vivos gift requires consideration to be binding, while a Will does not ○ A Will is irrevocable, while an inter-vivos gift can be revoked ○ All of the above QUESTION 2 ● Archie tells Edith, “Edith, because I love you so much I hereby give you my piano. It’s still sitting in my living room. But you can take it whenever you like.” Is this gift valid? ○ Yes ○ No, because donative intent has not been established ○ No, because there was no delivery ○ No, because there was no acceptance QUESTION 2 - ANSWER ● Archie tells Edith, “Edith, because I love you so much I hereby give you my piano. It’s still sitting in my living room. But you can take it whenever you like.” Is this gift valid? ○ Yes ○ No, because donative intent has not been established ○ No, because there was no delivery – correct answer ○ No, because there was no acceptance QUESTION 3 ● Which of the following could constitute a valid delivery of a gift of a car? ○ Parking the car in the donee’s driveway ○...
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...Boring, Oregon. Alan is the finder of Bart’s lost item before Bart offers a reward. In Contract law a reward offer is binding. In Property law a person has a responsibility to return lost personal property to its rightful owner. Issue: Is Alan entitled to collect a reward before he returns Bart’s object? Rule: MacFarlane v. Bloch, 59 Ore. 1 (Or. 1911) In the above mentioned case, one party found a pocketbook with a value of over $1,000.00. The finder made a concerted effort to locate the owner by taking out an ad in the local newspaper in the lost and found section of the classified section. The owner also placed an ad for a reward of $100 for the return of his pocketbook. The founder responded to the ad stating that he was in possession on the lost pocketbook. He was told that he needed to return the pocketbook or he would be arrested for larceny. The finder returned the pocketbook and sued for the reward that the owner placed on the return of the pocketbook. It was stated in this case that “the return of the property completed the contract and the owner was liable to offer reward.” When the reward was offered the finder had a lien for the payment against the property. It makes no difference in eyes of the law if the property was found first or if the reward was advertised first. The reward was for the return of the lost property and not for the actual finding of the object. In this case the owner was obligated to pay the finder the $100.00 reward that was advertised...
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...FACTS: Bart has mislaid his personal property and is offering a reward for its return. Alan hasfound Bart’s property and is demanding the reward as a pre-condition to its return. ISSUE: The issue in this case is whether Alan can demand the reward as a pre-condition to the return of Bart’s property, under Oregon law. RULES: In MacFarlane v. Bloch, 9 Ore. 1 (Or. 1911), the plaintiff, MacFarlane, found a pocketbook which contained promissory notes worth $1,000 belonging to the defendant, Bloch. Plaintiff withheld the notes demanding the reward be paid before their return. The defendant refused to pay the reward and had the defendant arrested for larceny. Subsequently, the plaintiff filed a suit against the defendant for the reward and prevailed. The state’s highest court found that if the plaintiff had made a good faith attempt to locate the true owner for the purpose of returning the lost property, they would be entitled to the reward. In Watts v. Ward, 1 Ore. 86, 88 (Or. 1854), the plaintiff found horses owned by the defendant, Ward. While being returned to the owners, the finder used the horses for work purposes where they subsequently perished. The plaintiff contended that he was due monetary compensation for the expenses incurred while returning the lost horses to the defendant. The fact that the horses did not survive, the true owner asserted the belief that the finder was not entitled to payment. The instant court found that since a reward was not offered...
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...MOBILE REAL ESTATE AGENT FOR IPHONE ______________ A Thesis Presented to the Faculty of San Diego State University ______________ In Partial Fulfillment of the Requirements for the Degree Master of Science in Computer Science ______________ by Rakhi Harkawat Fall 2011 iii Copyright © 2011 by Rakhi Harkawat All Rights Reserved iv ABSTRACT OF THE THESIS Mobile Real Estate Agent for iPhone by Rakhi Harkawat Master of Science in Computer Science San Diego State University, 2011 With the rise in standards of living and prosperity, and continuous growth in technology, throughout the world, people’s desires are also rising. They want more for themselves. They want a good life style, a good home. Now, when one plans to buy a property, one of the biggest challenges he/she faces is locating a property. Before the Internet, people used to first contact real estate agents, who had a limited list of properties in their database or you could drive around a neighborhood. For people wanting to locate properties themselves, the Internet offers a good alternative. A lot of websites now cater to this need. People can go to these websites and get results. But this is the era of devices like smartphones, etc. The last couple of years have seen a huge increase in the sale of smartphone devices. iPhone devices constitute the third largest population of all the smartphones and in the USA they are ranked second in smartphone sales. Nobody wants...
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...Case 2: Gulf Real Estate Properties. Please provide a Managerial Report that includes: 1. Appropriate descriptive statistics to summarize each of the three variables for the forty Gulf View condominiums 2. Appropriate descriptive statistics to summarize each of the three variables for the eighteen No-Gulf View condominiums 3. Comparison of your summary results from #1 & #2. Discuss any specific statistical results that would help a real estate agent understand the condominium market. 4. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. 5. A 95% confidence interval estimate of the population mean sales price and population mean number of days to sell for Gulf View condominiums. Also, interpret the results. Also, consider the following scenario and include your responses in your Report: 6. Assume the branch manager requested estimates of the mean selling price of Gulf View condominiums with a margin of error of $40,000 and the mean selling price of No-Gulf View condominiums with a margin of effort of $15,000. Using 95% confidence, how large should the sample sizes be? GULF VIEW CONDOMINIUMS List Price Sales Price Days to Sell 495000 475000 130 379000 350000 71 529000 519000 85 552500 534500 95 334900 334900 119 550000 505000 92 169900 165000 197 210000 210000 56 975000 945000 73 314000 314000 126 315000 305000...
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...A. THE PRESENT ESTATES (1) Fee Simple Absolute • Future Estate: None • Language Creating FSA: (a) to “A and his heirs (b) to “A, his heirs and assigns” (c) to “A” • Duration: Unlimited • Transferability: By deed, will or intestacy • FSA is form of undivided ownership • It is unlimited in duration • Words of purchase: words of conveyance “A” • Words of limitations: words that describe or limit the estate which is transferred “to his hears”; also designate something less than FSA “to A for life” • The owner A can transfer himself does not need his hears to join him to convey • The statute usually provides that any conveyance will be presumed to pass entire estate (FSA) to the grantor unless the contrary intent is expressed in document Meaning of “words of purchase” • Does not necessary mean A bought the land it could be gift, inheritance etc Meaning of “heirs” • Has a technical meaning, descendents of a person who died intestate • Living person does not have heirs, can have presumptive heirs Meaning of “words of inheritance” • “and his heirs” are not only words of limitation but also words of inheritance • They describe inheritable estate which does not end with the holder’s death like in life estate • FSA holder has the largest estate know to law • The grantees enjoyment of the estate may be encumbered by interests in land by mortgage, private nuisance etc, government may restrict use of land in manner that would jeopardize health, safety...
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...[pic] | | VeriCheck Information Services Background Check Report Date: 09/23/2012 Reference: vis-2564-03 Search Criteria: KHAN, SAIFI SEHER ------------------------------------------------------------------------------- *** SOCIAL SECURITY NUMBER: 091-61-XXXX State: MARYLAND Year Issued: 2008 =============================================================================== *** THE FOLLOWING SUBJECTS MATCH ON SOCIAL SECURITY NUMBER AND HAVE A SIMILAR NAME: KHAN, SAIFI SEHER 091-61-XXXX Address Source 1 (02/86) ===================================================================== *** ADDITIONAL NAME(S) FOUND FOR YOUR SOCIAL SECURITY NUMBER(S): KHANDAKAR, RIMI 091-61-XXXX Address Source 1 ===================================================================== ********** ALL ADDRESS SOURCES HAVE BEEN SEARCHED ********** ===================================================================== *** SUBJECT'S ADDRESS HISTORY(* INDICATES RECORDS WITH THE MOST CURRENT DATE) PUBLIC RECORDS WILL ONLY BE SEARCHED FOR THESE INDIVIDUALS: KHAN, SAIFI SEHER SS# 091-61-XXXX ALIAS: KHAN,SAIFI *2257 HULL ST, BALTIMORE, MD 21230...
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