Evening star., 1937-08-14
JOURNAL REVIEWS
REALTY DECISIONS
New Section Is Initial Step
in Developing Legal
Digest.

INCEST in the field of real estate ap-
p~aisal, court decisions and other mat
ters OF ruling and precedent Affect
sns the valuation Of real estate are
reviewed in A new section which is
being included in the journal of the
American Institute OF Real Estate
Appraisers technical quarterly of the
National Association of Real Estate
Boards.
The section. to be edited by William
Wilson, of the law firm OF Kirkland,
Fleming. Green, Martin IL Ellis, Chi
caeo, will appear for the FIRST time
In the current issue of the Institutes
quarterly, now on the press
Court decisions As 10 qualification
n value OF witnesses are cited in the
current issue.
Meantime, judicial recognition Of
the institutes publication comes in
An. opinion handed down by the Su-
preme Court of Illinois in the case OF
First National Bank VS.. Bryn Mawr
Building Corp. Here Ghe court called
upon to determine whether AS be-
tween two groups OF bondholders
price Of 19-story apartment build
ing AZ bid at foreclosure sale on be-
half OF one group was far to the
other, quoted recognized authorities
AZ to method OF appraisal procedure,
listed discussion OF appraisal basis
for such A property as given in the
journal OF the American 1nstitute OF
Real Estate Appraisers, Volume l.,
Number 1.
Disinterested apprs sal is the most
important condition for future real
estate stability. the Journal points
out editorially IN a discussion of the
question Of insuring such dSinterested
appraisals in the important work OF
Federal agencies concerned with real
estate and the mortgage, and In the
rase of banks, trust companies, IN
sira nee companies and other private
or semi-public asences handling and
distributing the funds or depositors.
Theories rs TO the origin Of private
property. evolution II the deed, and
the need Of accurate description of the
property in A deed are discussed in
the current issue Of the Journal by
Francis Z. Jones, Hartford, Conn.
attorney. Some excerpts are as fol-
lows:
The Roman principles OF occu-
eancy and the rules into which the
wrioonsults expanded it are the source
of all modern International law on
the subject Of acquisition of sover-
sien rights In newly discovered rnun-
tries They have Also supplied q theory
~ the origin of property, which is at
once the popular theory and in one
form or another is scouiesced in by
the great majority Of speculative jur-
lists
Occupancy Is prP-eminently inter
estins because Of It's importance in
speculative Jurisprudence in furnish
ing supposed explanation OF the orr
gin Of private property. II was once
universally believed that the proceed
Ing implied in occupancy was identical
with the process by which the cart h
snd its fruits. which were at first
In common. became the alleged prop
srtv of individuals. Blackston wrote
THE ground was IL common. and nc
part was the permanent property OF
anv man in particular: yet whoever
Wax in the occups ion of any deter
mined spot OF it. for rest, for shade
or the like, ACQUIRED for the time a
xort Of ownership. When mankind in
creased in number. i became neces-
sary to entertain con@aptlons of more
permanent dominica, and to appro-
pirate To 1ndlviduals not only the
immediate use, but the very substance
At the thing to b. used The great
German jur,st Ssweny. speaking of
Roman law, has Eid down that All
property is founded on adverse pos
aession ripened by prescription. Sir
Henry Sumner Maine takes issue with
these theories and considers that it
IL more than likely that Joint owner
ahlp, and not separate ownership. is
the really archaic institution. and
that the forms Of property which will
afford institution will be those which
are associated with the rights Of fami-
lies and of groups of kindred.
The first property rights in this
country were acquired BY the Colonists
By virtue OF roval charters. by occupa-
ton or by purchase from the Indians.
The lands usually consisted OF large
tracts. and the title was deemed to vest
In the inhs bitants. in the commoners.
In the original proprietors. and. usu-
sllv, in theory. in the King of Eng
land lnHer u-hnna thAu halN TT
time came when it was deemed ad-
viss hle 10 divide the lands among in
dlViduals. and many were the disputes
IN proprietor meetings or in town meet
1nrs between proprietors. inhabitants
and commoners in respect to the divi-
sion. Sometimes the proprietors
claimed ownership for themselves alone
~ the exclusion OF the other inhab-
itants OF the community and held pro-
prietor meetings. as distinguished from
the town meetings. ane made the divi.
sion among themselves
Sometimes the distinction between
proprietor meetings ana town meeting,
had been lost, and oftentimes the righ,
to share in the division. in 20 far a.
inhabitants who were not proprietor.
were concerned. rested upon which hae
ma siority-physical or otherwise
Sometimes the division WAS made b,
number, each getting an equal share
sometimes 1t depended upon tn,
amount OF taxes which 4 person paid
the larger taxpayer receiving tn,
larger quantity of land in the division
A;,,t. l.
the meeting. but frequently by a com
mittee selected to make a survey ant
- lay out the land