IN Personal Property Flashcards
1
Q
IN Personal Property
A
- Leases - Personal
- Crops - Fructus Industriales - personal - Annual crops go with conveyance unless contrary intent shown
- Fixtures - Can be converted to either
2
Q
IN Personal Property
Crops
A
- Conveyed unless deed reserves or other intent shown
- Mortgage on crops - like land, first in time right
- Emblements - Right of former tenant to enter and harvest those planted prior to end of estate, when:
a. tenancy for uncertain duration
b. tenancy terminated w/o tenant fault
3
Q
IN Personal Property
Wild Animals
A
- First to exercise dominion and control
- Trap - Constructive possession made
- Mortal wound, possession inevitable, vested property right; mere pursuit not enough
- Trespasser who kills on land forfeits title
- Poacher has no title.
4
Q
IN Personal Property
Copyright
A
- Work must have taken concrete form, not abstract idea
- New and original
- Must be fixed in tangible medium, sufficiently permanent to be perceived or reproduced
- Exclusive author - life plus 70 years
- Hired or anonymous - 95 years from publication or 120 years from creation, shorter
- Must be federally registered to bring action
- Idea - generally no rights - when original concrete, and useful, and circum clearly indicate compensation contemplated if used
5
Q
IN Personal Property
Lost, Mislaid, Abandoned
A
- Lost or mislaid - does not relinquish title
- Abandon - relinquish title
- Abandon - must show owner voluntarily gave up ownership, not just possession
- Title obtained by:
a. actual or constructive dominion or control
b. intent to assert ownership.
6
Q
IN personal Property
Lost or Mislaid
Right to possess
A
- finder entitled to possession over all but true owner
- Trespasser or Finder on Highly private locus - No possession right, prop. owner
- Mislaid - Owner of locus quo is possessor
7
Q
IN Personal Property
Duty to return
A
- If have reasonable means of finding true owner, do so or larceny or conversion
- Must keep with due care, gratuitous bailee
- If time enough to be abandoned or SOL runs, title can be gained.
8
Q
IN Personal Property
Accession
Innocent v. willful trespasser
A
- Accession - Trespasser adds value to chattel.
- If the addition can be detached, that will be ordered to put each back to status quo
- Who is owner: Depends on status of trespasser
a. Innocent - Owner maintains title, limited
1. may be limited to damages, not replevin
2. Great increase, damages, not replevin
b. Willful - Owner’s title persists, even if complete change. Has damage action or replevin in enhanced state.
9
Q
IN Personal Property
Confusion
A
- Goods of different persons can no longer be distinguished
- If same kind and quality, parties are tenants in common of the mass; in proportion to their contribution
- Regardless of how the confusion occurred.
- Unknown Contribution
- If innocent, tenants in common to the mass
- if wrongful - Burden on owner who was wrongful or through agent or bailee wrongful to prove her portion or the ENTIRE mass belongs to the other owner
10
Q
IN Personal Property
Adverse Possession
A
- Same as for real property
- successive possessors can tack time if in privity
- Tolling - Disability, wrongdoer is domiciled in but out of jurisdiction and can’t be served, wrongdoer fraudulently conceals himself from service.
11
Q
IN Personal Property
Gift
A
- a. donative intent, b. delivery, c. acceptance
- Intent - Promise to make gift in future is not binding.
- can make a vested gift and reserve a portion of title (life use) similar to property.
12
Q
IN Personal Property
Uniform Transfers to Minors Act
General applicability
A
- If gift given to minor under UTMA, gift complete and qualifies for gift tax exclusion
- Applies to all types of property and transfers
- Irrevocable, subject to rights of custodian
- Gift must be to a single minor
13
Q
IN Personal Property
Uniform Transfers to Minors Act
Creation of custodial property
A
- Must place in control of custodian as soon as practicable. failure due to death or improper designation of custodian does not affect consummation of gift
- Custodial property created when:
a. Security registered in name of custodian or delivered with endorsement
b. money - paid to account in custodian name
c. property recorded
d. transferred to trust or other adult
e. titled in name
14
Q
IN Personal Property
Liens
A
- Right on personal property, to retain when services performed on the thing
- General Lien -
- Special Lien -
- May exist w/o adding value to chattel
- for carrier, warehouse, bailee, trustee, agent, etc. Special lienor exception
- Generally the lienor must add value.
- when ambiguous, construed as special
15
Q
IN Personal Property
Rights of different lienors
A
- Working on property, mechanic, cleaner, craftsman, warehouse. Have lien for value of services.
- Landlord - lien on chattels on premises, from time bringing on if lease executed