Property Law: Commentary and Materials (Law in Context)

Cover......Page 1
Half-title......Page 3
Series-title......Page 5
Title......Page 7
Copyright......Page 8
Contents......Page 9
Preface......Page 19
Acknowledgments......Page 21
Table of cases......Page 24
Table of statutes......Page 37
Table of statutory instruments......Page 46
Table of treaties......Page 47
Table of EC legislation......Page 48
Part 1 The concept of property......Page 49
1.2. Illustrative example......Page 51
1.2.1.1. The unexcised body cell and the question of ownership......Page 52
1.2.1.2. John’s interest in the excised body cell......Page 56
1.2.1.3. Continuity of interests and John’s interest in the cell line......Page 57
1.2.1.4. Enforceability of John’s interest in the cell line......Page 58
1.2.1.5. Tracing into exchange products: property rights in Dr B’s £10m......Page 60
1.2.2. Dr A and Dr B and the acquisition and transmission of property interests......Page 61
1.2.3. The drugs company: constraints on the exercise of property rights......Page 62
Notes and Questions 1.1......Page 64
2.1.1. Property as a relationship and as a thing......Page 65
2.1.3. Distinguishing property rights from other rights relating to things......Page 66
2.1.4. Rights and other entitlements: Hohfeld’s rights analysis......Page 67
2.1.4.1. Rights and duties, privileges and no-rights......Page 68
Effect of restrictions on alienation rights......Page 70
2.1.5. Hohfeldian analysis of dynamic property relationships......Page 72
2.1.5.3. Stage 3: Exercise of the option......Page 73
FUNDAMENTAL JURAL RELATIONS CONTRASTED WITH ONE
 ANOTHER......Page 74
PRIVILEGES AND ‘NO-RIGHTS’......Page 75
POWERS AND LIABILITIES......Page 79
IMMUNITIES AND DISABILITIES......Page 81
Notes and Questions 2.1......Page 82
2.2.1. Introduction......Page 83
Distinction between open access and limited access communal property......Page 84
Distinction between open access communal property and state property......Page 85
Regulation of communal property......Page 86
Distinction between communal property and co-ownership......Page 87
2.2.2.4. State property......Page 88
2.2.2.5. Anticommons property......Page 89
2.3.1. What economic analysis seeks to achieve......Page 90
POSTULATE 2: INDIVIDUALS ACT RATIONALLY TO PURSUE THEIR SELF-INTEREST BY CONTINUALLY ADJUSTING TO THE INCREMENTAL…......Page 91
POSTULATE 4: GIVEN INDIVIDUAL RATIONALITY AND SELF-INTEREST,  A SYSTEM OF WELL-SPECIFIED AND TRANSFERABLE PROPERTY  RIGHTS…......Page 92
2.3.2.1. Externalities......Page 93
Imperfect information......Page 95
Value......Page 96
Kaldor-Hicks efficiency......Page 97
2.4.1. Functions of things......Page 98
2.4.3. Thing versus wealth......Page 99
2.4.4.1. Fungibles and non-fungibles......Page 100
2.4.4.2. ‘Use value’ and ‘exchange value’......Page 101
2.4.4.3. Property and personhood......Page 102
THINGS AS THING......Page 104
A functional distinction......Page 105
Notes and Questions 2.3......Page 106
3.2.1. Property and scarcity......Page 107
THE TRAGEDY OF FREEDOM IN A COMMONS......Page 110
POLLUTION......Page 111
RECOGNITION OF NECESSITY......Page 112
THE COALESCENCE AND OWNERSHIP OF PROPERTY RIGHTS......Page 113
D. PRIVATE OWNERSHIP AND THE ECONOMY......Page 116
Notes and Questions 3.1......Page 123
3.2.2. Viability of single property systems......Page 126
3.2.3. Criteria for measuring the success of a particular form of ownership......Page 128
3.3.1. What Locke was attempting to establish......Page 129
3.3.2. The political context......Page 130
3.3.4. Locke’s justification for original acquisition......Page 131
3.3.6. Why mixing labour with a thing should give rise to entitlement......Page 132
3.3.7. The sufficiency proviso......Page 135
3.3.8. The spoilation proviso......Page 137
3.3.10. Present relevance of Locke’s theory......Page 138
LOCKE’S THEORY OF ACQUISITION......Page 147
THE PROVISO......Page 150
Notes and Questions 3.2......Page 152
4.1. Introduction......Page 155
4.2.1. Intuitive ordering......Page 156
4.2.2. Preservation of public order......Page 157
4.2.4. Signalling......Page 158
4.2.6. The libertarian justification......Page 159
4.2.8. Economic efficiency......Page 160
I. THE PROBLEM OF PREMATURE OCCUPATION......Page 164
Notes and Questions 4.1......Page 169
4.3. New things......Page 170
THE CASE OF THEMONTAN AMULE......Page 172
Notes and Questions 4.2......Page 175
4.4. Capture......Page 176
Notes and Questions 4.3......Page 177
1. THE PROBLEM OF CONTESTED WHALES......Page 180
4. HYPOTHETICAL WHALING NORMS......Page 181
5.1. Fast-fish, loose-fish......Page 182
5.2. Iron-holds-the-whale......Page 183
5.3. Split ownership......Page 184
6. CONCLUDING REMARKS......Page 185
4.5.1. Introduction......Page 186
4.5.2. The Milirrpum decision and the doctrine of terra nullius......Page 188
4.5.3.1. Terra nullius......Page 191
4.5.3.2. Property, sovereignty and the doctrine of radical title......Page 193
Abandonment......Page 195
Notes and Questions 4.4......Page 196
4.5.4. Developments since Mabo (No. 2)......Page 198
Part 2 The nature of proprietary interests......Page 201
5.1.1. General enforceability......Page 203
5.1.2.2. Fluctuating assets......Page 204
5.1.3. Significance of alienability......Page 205
5.1.3.3. Appurtenant rights......Page 206
5.1.5. The numerus clausus of property interests......Page 207
5.1.6. Vindication of property rights......Page 208
5.1.7.3. Forfeiture......Page 209
5.1.8. Property rights and insolvency......Page 211
5.2.1.1. Rights of common......Page 215
5.2.1.2. Customary rights......Page 216
Notes and Questions 5.1......Page 218
5.3.2. Alienability......Page 221
5.3.4. Variation......Page 222
5.3.6.1. Blackburn J’s view in Milirrpum......Page 223
5.3.6.2. The view of the High Court in Mabo (No. 2)......Page 226
Notes and Questions 5.2......Page 227
6.1.1.1. Ownership and people......Page 228
6.1.1.2. Ownership and things......Page 229
6.1.2.1. The different meanings of ownership......Page 230
6.1.2.2. Disagreements about ownership......Page 231
6.1.2.3. Contradictions within ownership......Page 232
Between different types of owner......Page 233
Between owners and non-owners......Page 234
Notes and Questions 6.1......Page 236
1. SCEPTICISM ABOUT PRIVATE PROPERTY......Page 237
2. CONCEPTUAL DEFINITION......Page 239
6.2.1. An introduction to Honoré’s analysis......Page 240
1. THE RIGHT TO POSSESS......Page 242
2. THE RIGHT TO USE......Page 243
5. THE RIGHT TO THE CAPITAL......Page 244
6. THE RIGHT TO SECURITY......Page 245
7. THE INCIDENT OF TRANSMISSIBILITY......Page 246
8. THE INCIDENT OF ABSENCE OF TERM......Page 247
10. LIABILITY TO EXECUTION......Page 248
11. OWNERSHIP AND LESSER INTERESTS:RESIDUARY  CHARACTER......Page 249
Notes and Questions 6.3......Page 251
PROPERTY RIGHTS AS A UNIVERSAL AND NECESSARY FEATURE OF HUMAN SOCIETIES......Page 256
Notes and Questions 6.4......Page 259
6.3.1. As a legal term of art......Page 260
6.3.1.1. Ownership’s role in land......Page 261
6.3.1.3. Ownership’s role in legislation......Page 263
6.3.2.1. Ownership as an organising idea......Page 264
6.4.1. Nuisance......Page 265
Private nuisance......Page 266
6.4.1.2. The requirements of private nuisance......Page 267
Who can sue?......Page 268
What is protected?......Page 270
The traditional criteria......Page 272
The role of the market......Page 273
6.4.1.5. The protection of entitlements......Page 274
Rules of inalienability......Page 275
Notes and Questions 6.5......Page 279
Notes and Questions 6.6......Page 281
Notes and Questions 6.8......Page 282
Notes and Questions 6.9......Page 285
I. THE SETTING OF ENTITLEMENTS......Page 287
A. Property and liability rules......Page 288
B. Inalienable entitlements......Page 291
III. THE FRAMEWORK AND POLLUTION CONTROL RULES......Page 292
Notes and Questions 6.10......Page 297
6.5. Restrictive covenants......Page 298
Notes and Questions 6.12......Page 302
7.1.2. Possession, ownership and proprietary interests......Page 307
7.1.3. What is possession?......Page 309
The relevance of title......Page 310
The nature of the thing possessed......Page 312
Control through agents and control of contents......Page 313
Intention to exclude......Page 314
Effect of ignorance......Page 315
Notes and Questions 7.1......Page 316
7.2.1.1. Why the distinction matters......Page 319
7.2.1.2. Distinguishing leases from licences......Page 321
Notes and Questions 7.2......Page 324
7.2.2.1. General and particular use rights......Page 326
7.2.2.2. Compatibility of particular and general use rights......Page 327
7.3.1. Nature of bailment......Page 328
7.3.2. Rights, duties and obligations of bailor and bailee......Page 329
7.4.2.1. The role of tort in the protection of property rights......Page 330
Who can sue......Page 332
Who can sue......Page 333
7.4.3.1. Survival of self-help remedies......Page 334
7.4.3.2. Restrictions and deterrents......Page 338
7.4.4. Unlawful eviction and harassment......Page 339
PROPERTY......Page 340
DISTRESS FOR RENT......Page 341
Notes and Questions 7.3......Page 343
8.2. Present and future interests......Page 345
8.2.1. Interests in possession, in reversion and in remainder......Page 346
8.2.2.1. Absolute entitlements......Page 347
8.2.2.2. Contingent interests and expectancies......Page 348
8.2.3. When interests vest......Page 350
8.2.4. Alienation, management and control......Page 351
8.2.5. Interests of contingent duration......Page 352
8.2.5.2. Interests subject to a condition subsequent......Page 353
8.2.6. Requirement of certainty......Page 354
8.2.7. Successive interests in land and the doctrine of tenures and estates......Page 355
8.2.7.1. Tenures and estates......Page 356
8.2.7.3. Leases......Page 358
8.3.1.1. Failed formality interests......Page 359
8.3.2. Legal and equitable interests now......Page 360
8.3.4. Three common fallacies......Page 361
8.3.4.3. Absolute ownership does not include equitable beneficial ownership......Page 362
THE PRACTICAL CONSEQUENCES OF THE BANK’S ARGUMENT......Page 363
THE RELEVANT PRINCIPLES OF TRUST LAW......Page 364
THE SEPARATION OF TITLE POINT......Page 365
RESULTING TRUST......Page 366
8.4.1. Corporate property holding......Page 368
BERLE AND MEANS AND THE PROBLEM OF CORPORATE
 PROPERTY......Page 374
PUBLICLY CONTROLLING THE PRIVATE CORPORATION......Page 378
8.4.2. Managerial property holding......Page 380
8.4.2.1. Trust......Page 381
The beneficiaries......Page 382
8.4.2.2. Administration of property on death......Page 383
8.4.2.3. Bankruptcy and liquidation......Page 385
Notes and Questions 8.2......Page 386
8.5. Group ownership......Page 387
8.6. General and particular use rights......Page 390
Notes and Questions 8.3......Page 391
9.1.1. The function of property......Page 393
9.1.2. The danger of property......Page 394
9.1.3. The requirements of property......Page 395
9.2. The dynamic nature of property......Page 396
9.2.1. The recognition and limits of the covenant as a proprietary interest......Page 397
Notes and Questions 9.1......Page 400
9.2.2. The recognition of a proprietary right to occupy the matrimonial home......Page 401
Notes and Questions 9.2......Page 402
9.3.1. The facts of Victoria Park Racing v. Taylor......Page 404
9.3.3. The views of the minority......Page 405
9.3.4. The significance of the case......Page 406
Notes and Questions 9.3......Page 407
9.4. A comparative confirmation and an economic critique......Page 416
Notes and Questions 9.4......Page 418
9.5. The future of property......Page 419
9.5.1. The new property thesis......Page 421
Notes and Questions 9.5......Page 422
9.5.2. The emergence of quasi-property......Page 424
Notes and Questions 9.6......Page 426
Part 3 The acquisition and disposition of property interests......Page 429
10.1. What we mean by ‘title’......Page 431
10.2.2. Original acquisition......Page 432
10.3. Relativity of title......Page 434
10.4. Proving title......Page 435
10.4.1. Role of registration......Page 436
10.4.2. Possession as a root of title......Page 437
10.4.3. Provenance......Page 438
10.4.4. Extinguishing title by limitation of action rules......Page 439
10.5. The nemo dat rule......Page 441
10.5.1. Scope of the nemo dat rule......Page 442
10.5.2.3. Powers of sale......Page 444
10.5.3. The application of the nemo dat rule to goods......Page 445
10.5.4. The application of the nemo dat rule to money......Page 446
10.5.5.3. Interests by estoppel......Page 450
10.6. Legal and equitable title......Page 451
11.2. The operation of adverse possession rules......Page 454
11.2.3. What counts as ‘adverse’ possession......Page 455
11.2.4. Effect on third party interests......Page 457
11.3. Why established possession should defeat the paper owner......Page 458
11.4. Adverse possession and registration......Page 460
11.5. Good faith and the adverse possessor......Page 461
A.FIRST POSSESSION: PRIOR IN TIME IS HIGHER IN RIGHT......Page 464
1. Tension between principle and proof......Page 465
Notes and Questions 11.1......Page 468
A. Lockean entitlement......Page 469
C. Property and personhood......Page 470
A. Entitlement and utilitarianism:principle versus pragmatics?......Page 471
Notes and Questions 11.2......Page 472
ADVERSE POSSESSION......Page 475
ADVERSE POSSESSION AND THE LAND REGISTRATION ACT 2002......Page 476
THE NECESSARY EVIL ARGUMENT......Page 477
Stale claims in registered land......Page 481
Stale claims under the 2002 Act......Page 482
Distinguishing the ‘good’ squatter from the ‘bad’ squatter......Page 483
Problems of proof......Page 484
Effect of the 2002 Act changes on the incidence of adverse possession......Page 486
The incompatibility argument......Page 488
Notes and Questions 11.4......Page 490
11.6. Goods......Page 491
11.6.3. The Limitation Act 1980 and title to goods......Page 492
11.6.4. Finders......Page 493
Notes and Questions 11.5......Page 494
12.2.1. Nature and content of formalities rules......Page 496
12.2.2. Registration and electronic transactions......Page 499
12.2.3. Validity and enforceability against third parties......Page 500
12.2.5.1. Equitable modification of legal rules......Page 501
12.2.6. Deeds and prescribed forms......Page 502
12.2.7. Why have formalities rules......Page 503
12.2.7.2. The cautionary function......Page 504
12.2.7.3. The channelling function......Page 505
Clarifying terms......Page 506
State functions......Page 507
12.2.8.1. Hard cases......Page 508
12.2.8.2. Costs......Page 509
§ 2. THE EVIDENTIARY FUNCTION......Page 512
§ 4. THE CHANNELING FUNCTION......Page 513
§ 5. INTERRELATIONS OF THE THREE FUNCTIONS......Page 514
§ 6. WHEN ARE FORMALITIES NEEDED? THE EFFECT OF AN INFORMAL SATISFACTION OF THE DESIDERATA UNDERLYING THE USE OF FORMALITIES......Page 515
Notes and Questions 12.2......Page 518
12.3.1. Estate contracts and the rule in Walsh v. Lonsdale......Page 519
12.3.2. Application to property other than land......Page 520
12.3.3.1. The general rule......Page 521
12.3.3.2. The failed formalities rule as it applies to land......Page 522
12.3.3.3. Failed formalities rule as it applies to other property......Page 523
Notes and Questions 12.3......Page 524
12.3.4. Options to purchase, rights of pre-emption and rights of first refusal......Page 527
Notes and Questions 12.5......Page 529
RIGHTS OF PRE-EMPTION......Page 530
Notes and Questions 12.6......Page 531
12.4.2. Unascertained goods......Page 532
12.4.3. Other unascertained property......Page 533
Notes and Questions 12.7......Page 535
13.2. The difference between adverse possession and prescription......Page 537
13.3. Why long use should give rise to entitlement......Page 538
13.4.1. Ascendancy of the presumed grant rationale......Page 540
13.4.2. Effect of the ‘revolting fiction’......Page 541
13.5.1. The problem of negative uses......Page 542
13.5.2. Rights that can be granted but not acquired by prescription......Page 544
13.6. User as of right and the problem of acquiescence......Page 545
13.7. The future of prescription......Page 546
Recommendation in favour of abolition......Page 555
Minority view in favour of retention......Page 556
Notes and Questions 13.1......Page 558
14.1. Rationale of enforceability and priority rules......Page 560
14.2.1. The basic rules......Page 561
14.2.2. Impact of registration......Page 562
14.3. The doctrine of notice......Page 563
14.3.1. Notice......Page 564
14.3.2. Good faith......Page 566
14.3.3. Effectiveness of the doctrine of notice as an enforceability rule......Page 567
Notes and Questions 14.2......Page 570
14.4.1. Nature and scope of overreaching......Page 571
14.4.2. Operation of overreaching......Page 572
14.4.3. Overreaching the interests of occupying beneficiaries......Page 573
14.4.4. Transactions capable of overreaching beneficiaries’ interests......Page 575
Introductory......Page 577
Safeguard for beneficiaries......Page 579
Change of circumstances......Page 580
Protecting occupation of property......Page 581
Principal recommendation......Page 582
Notes and Questions 14.3......Page 583
15.1. What are registration systems for?......Page 585
15.2.2. Comprehensiveness......Page 587
15.2.4.2. Registration......Page 589
15.2.4.3. ‘Protection’ by notice or restriction......Page 590
15.2.4.4. The overriding interest class......Page 591
THE ‘INSURANCEPRINCIPLE’......Page 592
15.2.6. Consequences of non-registration......Page 593
REGISTRATION SYSTEMS: CONTINENTAL EUROPE......Page 594
FIRST REGISTRATION......Page 596
Compulsory use of electronic conveyancing......Page 597
Do-it-yourself conveyancing......Page 598
The objective of the power......Page 599
The application of the power......Page 600
15.3.1. Registrable interests......Page 601
15.4.1. Justifications for overriding interests......Page 602
15.4.2. Principles to be applied......Page 603
15.4.3. Overriding interests under the 2002 Act......Page 604
15.4.4. Easements and profits......Page 605
15.4.5. Interests of persons in actual occupation: the 1925 Act......Page 606
15.4.5.1. What rights are covered?......Page 607
Physical presence......Page 608
Non-residential premises......Page 609
15.4.6.3. The ‘notice’ element......Page 610
15.4.6.4. Can minors be in actual occupation?......Page 611
15.4.6.5. Occupation of part......Page 612
Notes and Questions 15.3......Page 613
15.5.2. Shortfall in the provision of indemnity......Page 614
15.5.3. Cost......Page 615
Part 4 Proprietary relationships......Page 617
17.2.1. Consensuality......Page 657
17.2.3. Enforcement......Page 658
17.2.5. Beneficial use......Page 659
17.2.7. Inherent obligations of the possessor......Page 660
The legal position......Page 661
Length of fixed-term leases in practice......Page 662
Commercial premises......Page 663
Nature......Page 664
Contractual fetters on notice to quit......Page 665
17.3.1.4. Tenancy at will......Page 666
Tenancy at sufferance......Page 667
Notes and Questions 17.1......Page 668
17.3.1.5. Certainty of duration......Page 669
Notes and Questions 17.2......Page 672
17.3.1.6. Grant of possession not giving rise to fixed-term/periodic tenancy......Page 673
Passage 2......Page 677
Passage 3......Page 678
Passage 4......Page 679
Notes and Questions 17.3......Page 680
17.3.1.7. The tolerated trespasser status......Page 681
Notes and Questions 17.4......Page 683
17.3.1.8. Non-proprietary leases?......Page 684
Notes and Questions 17.5......Page 686
Subleases and other derivative interests granted by the tenant......Page 688
Concurrent leases and other derivative interests granted by the landlord......Page 689
17.3.2.2. Restrictions on alienability......Page 690
17.3.2.3. Statutory control of contractual restrictions......Page 691
Automatic transmission of benefit and burden of proprietary terms: the privity of  estate principle......Page 693
17.3.3.2. Non-proprietary terms......Page 694
17.3.3.3. Derivative interest holders......Page 695
17.4.1. Essential features of bailment......Page 696
17.4.2. Categories of bailment......Page 697
17.4.3. Characteristics of bailment......Page 698
17.4.4. Liabilities of the bailee......Page 699
Notes and Questions 17.7......Page 700
17.4.5.1. Possession and exclusivity......Page 701
17.4.5.2. Alienability......Page 702
17.4.5.4. Other proprietary indicia......Page 703
18.1.1.1. Terminology problems......Page 705
18.1.2. Function......Page 706
18.1.2.1. Right of first recourse......Page 707
18.1.2.4. The hostage function......Page 708
18.1.3. Efficiency......Page 709
18.1.4. Use of security......Page 710
18.2.1. Property transfer securities: the mortgage......Page 711
18.2.3. Hypothecations: the charge......Page 712
18.2.6. Charge by way of legal mortgage......Page 713
MORTGAGE BY DEMISE......Page 715
Notes and Questions 18.1......Page 716
18.3.1. Equitable supervisory jurisdiction......Page 717
18.3.2. The Kreglinger principles......Page 718
18.3.3. Statutory intervention......Page 720
Notes and Questions 18.2......Page 731
18.4.1. Remedies......Page 732
18.4.2. Possession......Page 733
18.4.3.1. When the power arises......Page 734
18.4.4. Duties on enforcement......Page 735
INTRODUCTION......Page 736
Alleviating arrears problems......Page 737
The levying of charges on accounts in arrear......Page 738
Methods of obtaining possession......Page 739
SALE OF PROPERTIES IN POSSESSION......Page 741
Indemnity insurance......Page 742
Notes and Questions 18.3......Page 743
16.1. Introduction......Page 619
OWNERSHIP IN COMMON......Page 620
JOINT OWNERSHIP......Page 621
CONCURRENT INTERESTS IN LAND......Page 623
16.2.2.1. Four unities versus one......Page 624
Unity of interest......Page 625
Notes and Questions 16.2......Page 626
16.2.2.2. The right of survivorship (and how to avoid it)......Page 627
Severance at common law......Page 628
16.2.2.3. Acting upon one’s share......Page 630
16.2.2.4. Mutual agreement......Page 631
16.2.2.6. Statutory severance......Page 632
Notes and Questions 16.3......Page 633
12 THE RIGHT TO OCCUPY......Page 639
13 EXCLUSION AND RESTRICTION OF RIGHT TO OCCUPY......Page 640
Notes and Questions 16.4......Page 641
16.2.3.2. Chattels......Page 642
Notes and Questions 16.5......Page 643
16.2.4.1. Land......Page 644
Notes and Questions 16.6......Page 646
16.3.2. Unincorporated associations......Page 647
Notes and Questions 16.7......Page 652
16.3.3. Extending the limits of co-ownership: public trusts......Page 653
Bibliography......Page 746
Index......Page 757