Found Property Flashcards
What is real property?
All land and everything attached to the land with the intent that it be a part of the land, that is, the land and its fixtures.
What is personal property?
All property that is NOT real property
What are the three categories of found property?
- Abandoned property
- Lost property
- Mislaid property
What is the test for abandoned property?
(1) Is the property abandoned?
* Personal property is abandoned if the owner has voluntarily given up possession with the intent to give up title and control.
(2) If it is, has someone acquired rights in it?
* A finder acquires rights in the abandoned property if the finder has possession with the intent to assert title and control.
What is lost property?
Found property where the owner took no voluntary affirmative act in placing the property where it is found, that is, the owner’s parting with the property was accidental and involuntary.
What is mislaid property?
Found property where the owner has taken some voluntary affirmative action in placing it down, and the owner leaves it behind.
What is the key difference between lost property and mislaid property?
The key differense is that affirmative, voluntary act in placing the property where it is found.
You are walking down a street on a very hot day. You take your
suit coat off and throw it over your shoulder. You don’t notice it but your wallet falls out of
the pocket and onto the sidewalk. You keep on walking. What is this?
That is lost property.
You walk into Starbucks for the morning latte, take out your wallet
to pay and put the wallet down on the counter by the cash register. You get your change,
put it in your pocket and walk away, forgetting the wallet. What is this?
That is mislaid property.
The ring found next to the sink in a public washroom. What is this?
That is mislaid property.
The ring found in the cup on the 18th hole of a golf course. What is this?
That is lost property.
A wallet found behind books in a bookcase. What is this?
That is mislaid property.
Who gets ownership of mislaid property?
If the property is mislaid, the owner or occupier of the premises on which the property is found will prevail over the finder.
Who has ownership over property that is lost?
If property is lost, the general rule is that the finder wins and the owner or occupier of the premises loses.
What are the three exceptions to the rule for lost property?
(1) If the finder of the lost property is a trespasser the owner or occupier of the premises will prevail.
(2) The master prevails over the servant who finds.
(3) If lost property is found in a highly private locus, a place not open to the public, the owner or occupier of the property will prevail over the finder. Only two examples of this: a home or a private office.