Finding Lost/misplaced property v abandoned property Flashcards
Finder of lost property entitled to keep it?
YES
when is a finder of lost property not entitled to keep the property?
When the finder was trespassing or the true owner is identified
Who owes property that finder finds in a private location not open to the public?
The owner of the location
Does the employer gain ownership of property that an employee finds while engaged in act that is directed by the employer?
YES
What is misplaced property?
Property that has been intentionally place in a partiular location and forgotten.
Who owes misplaced property?
The true owner has rights to the property first then the owner of the property were the property was found.
What is abandoned property?
Property that owner intend to give up title and possession.
The true owner relinquish all ownership.
What is treasure trove property?
Things such as gold, coins
Define treasure trove?
Property that is concealed and is anticipated to be recovered at a later time
What is uniform disposition of unclaimed property?
Unclaimed wage, salary and payroll held or owed by an baking or financial organization is presumed abandon after one year?
When is property lost?
Property is lost if the owner accidentally and involuntary parted with possession but does not know were to find property.
