PROPERTY LAW LECTURE NOTES - Legal and Lit物权法讲义法律与点燃.doc

PROPERTY LAW SUMMARY I. INTRODUCTION TO PROPERTY LAW Goals of Property Law to assign property rights clearly – establish rules about who owns what control access to property – exclusiveness resolve disputes over resources enable economic freedom of individuals reap what we sow maximization of wealth Rights of Ownership “BUNDLE OF RIGHTS” Right to exclude Privilege to use Power to alienate – the capacity to transfer right of ownership to someone else Immunity from taking – without lawful authority Characteristics of the “Bundle of Rights” Divisible: can be distributed among different individuals (e.g. easements – privileges to use for a specific purpose like walking on a pathway) Limitable / Not Absolute: all of the above rights are subject to reasonable limits Variable: size and shape of bundle of rights can vary over time between jurisdictions Property Rights as Relations between People with respect to valuable resources: Owner Non-Owner Right Duty Privilege No Right (to stop owner from exercising his/her privilege) Immunity Disability (legally disabled from exercising power to extent of owner’s immunity) Power Liability II. THE MEANINGS OF PROPERTY Private Exclusive private property Co-owned property English commons Individual Common Judge’s chambers Parks and roads Public / State MacPherson: The Meaning of Property the meaning of property is not constant – i.e. no true definition 3 Types of Property individual property common property public / state property Hallowell: The Nature and Function of Property as a Social Institution property is a social institution – i.e. a system of relations among individuals involving rights, duties, powers, privileges, forbearances etc Hughes: American Indian Ecology Historically, Indians did not “own” land in the usual sense – it was held in common, ownership was tribal – “we do not own land, we simply use it” They lived by a cooperative ethics – sharing fo