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Discussion Board Two Jarrett Davis BUSI 561

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In this paper, an effort is made to provide legal advice as it applies to property ownership. This work includes an evaluation of the legal position of our client Barney. Barney has an ownership dispute related to property where he owns right of survivorship in a joint tenancy. Furthermore, he has beach front property that is soon to be seized by the government. Shared in this research are Barneys legal rights, as well as the rights of other parties involved. Lastly, this scenario will be examined from the Christian perspective. Joint Tenancy with Right of Survivorship Barney is the sole survivor of a joint tenancy that involved several other owners who have now passed away. The property exists in the mountains of NC, and Barney holds the deed to the property. However, Barney will soon learn that one cannot approach the legalities of right of survivorship in a passive manner. The right of survivorship is not completely safe; as such a right can be broken or taken away (Conway, 2008). Barneys right of survivorship was voided by Andy, who wished his portion of ownership to pass to his son. Andy exercised unilateral severance, which can occur without the permission or knowledge of other tenants. Joint tenancies are not permanent arrangements, and are not legally observed as such. Each tenant has options and the right of survivorship can be voided with the group coming to a cohesive agreement. Survivorship does not guarantee Barney of property enhancement. Andys Son Otis legally received a portion of the property. He used this equity to obtain a loan. This loan fell into default. In a joint tenancy, the creditors dealing with Otis hold the right to foreclose upon that portion of the property (Kubasek, Brennan, & Browne, 2008 p 377). Lapsed devices in a will

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A lapse within a will occurs when a beneficiary passes away prior to the testator (national paralegal, 2012). When this takes place, the property in question is placed in the residuary of the estate. To prevent lapsing from occurring, many states have anti lapse statutes which allow property to be passed to the heirs of the deceased beneficiary. Therefore, the last will and testament of all deceased tenants should be of interest to Barney. The other portions of the property may have new ownership, or they may have lapsed, passing to the residuary of the estate. Adverse Possession Barney will soon find that Ernest is not a nut, as he previously described him. Ernest understands the laws of adverse possession. In North Carolina, adverse possession laws to prevent land from existing abandoned or idle. The laws are meant to keep abandoned land from being lost to the community (findlaw, 2012). Ernest believes he is the rightful owner of the property because he has maintained it for a long period of time. Thus he believes his occupancy to be valid under color of title. Ernest has lived on the land all this time without any secrecy, thus he has lived there open and notoriously. Ernest has likely applied for a title that went uncontested by Barney or anyone else. Barney has met the North Carolina requirement of living on the property for seven years under the belief he is the owner of the property. Therefore, under adverse possession law, ownership of this property has been transferred to Ernest. Eminent Domain Eminent Domain is the legal ground that allows state governance to seize Barneys beachfront property. Eminent domain exists as the constitutional right of

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the government to take private property for the purpose of progress and benefit to the community ((Kubasek, Brennan, & Browne, 2008 p 382). Barney will be paid the proper market value for his land, but he will be unable to stop the property from being seized.

Bailment Barney should question how Ernest initially gained possession of the rural property. Was he the caretaker of the property based on a deal he made with one of the deceased tenants? If so, the tenants have legally abandoned the property (contracts, 2012). If the land remained idle at the end of a lease or agreement involving Ernest for a number of years, the property is considered abandoned. If there was no agreed upon time period for Ernest to occupy the land, then the land cannot be considered abandoned. Good Faith Purchases for Value Barney had his car stolen; the car was then after sold as part of a good faith purchase. Under U.S. law Barney can recover his property regardless of the sale that has taken place. In the event that the property is legally considered abandoned then Barney cannot recover the item in question (Schwartz & Scott, 2012). In this manner, had Barneys rural property been sold after being declared abandoned, he cannot recover ownership of the property. Biblical Considerations

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As a man of Christian faith, Barney should not be terribly upset about his property losses. Jesus warned of the spiritual dangers that accompany a thirst for wealth (Harkness, 1957). Hopefully, Barney understands that all our goods and processions belong to God. We are simply stewards of what he has chosen to trust us with. Do not lay up for yourselves treasures on earth, where moth and rust destroy and where thieves break in and steal;
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but lay up for yourselves treasures

in heaven, where neither moth nor rust destroys and where thieves do not break in and steal. 21 NKJV).
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For where your treasure is, there your heart will be also (Mathew 6:19-

References Abandoned property. Retrieved from: http://contracts.lawyers.com/contracts/bailment.html Adverse Possession. Retrieved from: http://law.findlaw.com/state-laws/adversepossession/north- carolina/ Bailment. Retrieved from: http://contracts.lawyers.com/contracts/Bailment.html Conway, H. (2008). 'Leaving Nothing to Chance?': Joint Tenancies, The 'Right' of Survivorship, and Unilateral Severance. Oxford University Commonwealth Law Journal, 8(1), 45-92. Harkness, G., (1957). Christian Ethics. Chapter 8: The Ethics of Economic Life Retrieved from: http://www.religion-online.org/showchapter.asp? title=802&C=1083 Kubasek, N. K., Brennan, B. A. & Browne, M. N. (2012). The legal environment of business: A critical thinking approach (6th ed.). Upper Saddle River, NJ: Prentice Hall. ISBN: 978-0-13-266484-4 Lapse & Anti-lapse statutes retrieved from: http://nationalparalegal.edu/willsTrustsEstates_Public/ConstructionofWills/LapseAnd Ant ilapseStatutes.asp

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Schwartz, A., & Scott, R. E. (2011). Rethinking The Laws of Good Faith Purchase. Columbia Law Review,111(6), 1332-1383.