Chapter 41 Flashcards
Land and everything attached to it, such as trees or buildings.
Real Property
Property that is movable. Any property that is not real property.
Personal Property
Personal Property
Chattel
A voluntary transfer of property made without consideration, past or present.
Gift
A symbolic delivery of property that cannot be physically delivered.
Constructive Delivery
Ownership rights in property, including the right to possess and control the property.
Dominion
a gift made during one’s lifetime and not in contemplation of imminent death, in contrast to a gift causa mortis.
Gift Inter Vivos
A gift made in contemplation of imminent death. The gift is revoked if the donor does not die as contemplated.
Gift Causa Mortis
The addition of value to personal property by the use of labor or materials.
Accession
The mixing together of goods belonging to two or more owners to such an extent that the separately owned goods cannot be identified.
Confusion
Property that the owner has voluntary parted with and then has inadvertently forgotten.
Mislaid Property
Property that the owner has involuntary by the owner.
Lost Property
A statute defining finders’ rights in property when the true owners are unknown.
Estray Statute
Property that has been discarded by the owner, who has no intention of reclaiming it.
Abandoned Property
A situation in which the personal property of one person (a bailor) is entrusted to another (a bailee), who is obligated to return the bailed property to the bailor or dispose of it as directed.
Bailment
One who entrusts goods to a bailee.
Bailor
One to whom goods are entrusted by a bailor.
Bailee
A possessory lien that a bailee entitled to compensation can place on the bailed property to ensure that he or she will be paid for the services provided.
Bailee’e Lien
