Found Property

Question 1

Mislaid Property

Answer 1

A chattel that a person has intentionally put down, but then inadvertently leaves it there by mistake.

The owner of the locus in quo acquires possessory title to mislaid property.

Question 2

Abandoned Property

Answer 2

A chattel or land over which the owner has given up physical control while intending to relinquish all right, tittle, and possession.

The finder acquires title to abandoned property.

Question 3

Treasure trove

Answer 3

Money, gold, silver or bullion that is found hidden in the earth or other private place, the owner being unknown and presumed dead due to the passage of time.

US Common Law: The finder acquires title to treasure trove, even if a trespasser.

US Modern Law: Deprecated. See other categories.

English Common Law: The king acquired title.

Question 4

Lost Property

Answer 4

A chattel over which a person has unintentionally and involuntarily lost possession and does not know where to find it.

The finder acquires possessory title to lost property.

Question 5

Embedded Property

Answer 5

Is a chattel found in the earth (under the surface of the land).

The owner of the locus in quo acquires possessory title to embedded property.

Question 6

Employee Rule

Answer 6

If an employee finds lost or abandoned chattel while acting in the scope of his employment, the employer acquires possessor title to the chattel.

Question 7

Private Place Rule (ie not open to the public)

Answer 7

The owner of the locus in quo acquires possessor title to chattel found in a private place.

Question 8

Public Place Rule

Answer 8

The finder of lost or abandoned chattel in a place open to the public acquires possessory title to the chattel, even if the locus in quo is privately owned.

Question 9

Duties of a Finder

Answer 9

The finder of lost property is an implied bailee. The bailee has a duty to try to identify and contact the owner.

Question 10

Duties of the owner of the locus in quo where mislaid property is found

Answer 10

The owner of the locus in quo is an implied bailee. Similar to duties of a finder.

Question 11

Finder’s statute

Answer 11

A statute that puts forth requirements for finder (ie deposit the found object with the police, as well as advertise or attempt to contact the owner).