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(Solved) 5.21 5.22 Suppose the statute of limitations for adverse possession is 10 years. After 9.9 years of trespass owners retain full rights, but after 10...


5.21 5.22 Suppose the statute of limitations for adverse possession is 10 years. After 9.9 years of trespass owners retain full rights, but after 10 years of trespass owners lose all of their rights. Instead of owners losing their rights abruptly at the end of 10 years, the statute could be written so that the rights depreciate gradually over time. For example, the trespasser could be granted a 10 percent interest in the property for each year of adverse possession, so that after one year the trespasser would own 10 per cent of it and after 10 years the trespasser would own all of it. Compare the efficiency of the “discontinuous rule” and the “continuous rule.” If the value of a lost object is low enough, the estray statutes do not apply. Consequently, the finder has no legal obligation to advertise. Discuss the costs that need to be balanced to the most efficient lower bound in the value of a lost object for purposes of the estray statutes.
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