1. 2011©Cengage Learning. All Rights Reserved.

2. Nature of Property 2011©Cengage Learning. All Rights Reserved.

3. PROPERTY RIGHTS IN A DEMOCRACY Absolute Rights Abolished The owner exercised absolute dominion over his land. A man’s home was his castle 2011©Cengage Learning. All Rights Reserved.

4. PROPERTY RIGHTS IN A DEMOCRACY All Rights Relative Property and personal rights are, by definition, relative to and circumscribed by the rights and privileges of others in that society. Each right or privilege must be balanced against similar, equivalent, and superior rights. 2011©Cengage Learning. All Rights Reserved.

5. PROPERTY RIGHTS IN A DEMOCRACY Balancing Rights Protected by the democratic concept & constitutional safeguards. 14 th Amendment prevents any state from depriving any person of property without due process of law. 2011©Cengage Learning. All Rights Reserved.

6. Restrictions on Use Constitutional Restrictions The owner of a wholly owned company town may not prohibit demonstrators. 2011©Cengage Learning. All Rights Reserved.

7. Restrictions on Use Nuisance An owner may not use residential property for a garbage dump. 2011©Cengage Learning. All Rights Reserved.

8. Restrictions on Use Private Covenants, Conditions, and Restrictions A real estate developer may place covenants, conditions, and restrictions on a subdivision. 2011©Cengage Learning. All Rights Reserved.

9. Restrictions on Use Police Power A local government may use zoning to prohibit certain uses. Allows for building codes. 2011©Cengage Learning. All Rights Reserved.

10. PROPERTY AS A CREATION OF LAW What Is Property? Two theories define the nature of property. 2011©Cengage Learning. All Rights Reserved.

11. What Is Property? Natural rights doctrine - holds that property exists independent of law. Creation of law doctrine - property is a creation of law and has no existence without the protection of law. 2011©Cengage Learning. All Rights Reserved.

12. Bundle of Rights  the right to use and possess the property to the exclusion of others  the right to sell or will the property to others  the right to grow crops and build on the land 2011©Cengage Learning. All Rights Reserved.

13. Not Absolute but Abolishable  Limitations Due process Equal protection 2011©Cengage Learning. All Rights Reserved. Rights

14. Estate of Larkin 65 C.2d 60 (1966) A California resident, having no heirs in USA, left his estate to a Russian living in the U.S.S.R. The State of California tried to claim the estate under the doctrine of escheat, alleging that the gift was invalid for want of a qualified heir by reason of the reciprocity required for aliens under Probate Code 259. 2011©Cengage Learning. All Rights Reserved.

15. The Soviet citizen may inherit the estate. The record clearly establishes that citizens of the United States enjoy a reciprocal right to inherit from Soviet estates on the same terms and conditions as Soviet citizens. 2011©Cengage Learning. All Rights Reserved.