Property law
Part of the common law series
Acquisition of property
Gift  · Adverse possession  · Deed
Lost, mislaid, or abandoned
Treasure trove
Alienation  · Bailment  · License
Estates in land
Allodial title  · Fee simple  · Fee tail
Life estate  · Defeasible estate
Future interest  · Concurrent estate
Leasehold estate  · Condominiums
Conveyancing of interests in land
Bona fide purchaser
Torrens title  · Strata title
Estoppel by deed  · Quitclaim deed
Mortgage  · Equitable conversion
Action to quiet title
Limiting control over future use
Restraint on alienation
Rule against perpetuities
Rule in Shelley's Case
Doctrine of worthier title
Nonpossessory interest in land
Easement  · Profit
Covenant running with the land
Equitable servitude
Related topics
Fixtures  · Waste  · Partition
Riparian water rights
Lateral and subjacent support
Assignment  · Nemo dat
Other areas of the common law
Contract law  · Tort law
Wills and trusts
Criminal Law  · Evidence

Maui Police Department Sticker affixed to Abandoned Cars. Property law is the area of Law that governs the various forms of Ownership in Real property (land as distinct from personal or movable possessions Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive A gift, in the Law of Property, has a very specific meaning In order for a Gift to be legally effective the grantor must have intended to give the gift In Common law, adverse possession is the process by which title to another's Real property is acquired without compensation, by as the name A deed is a Legal instrument used to grant a Right. Deeds are part of the broader category of documents under seal. A treasure trove may broadly be defined as an amount of gold silver gemstones money jewellery or any valuable collection found hidden underground or in places such as cellars Alienation, in Property law, is the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another Bailment describes a legal relationship in Common law where physical possession of personal Property ( Chattels) is transferred from one person (the The verb license or grant license means to give permission The noun license is the document demonstrating that permission An estate is the Net worth of a person at any point in time It is the sum of a person's Assets - legal rights interests and entitlements to Property of Allodial title is a concept in some systems of property law It describes a situation where Real property ( Land, Buildings and Fixtures) is owned Fee simple is an estate in land in Common law. It is the most common way Real estate is owned in common law countries and is ordinarily the most Fee tail or entail is an obsolete term of art in Common law. It describes an estate of Inheritance in Real property which cannot A life estate is a concept used in Common law and Statutory law to designate the ownership of land for the duration of a person's life A defeasible estate is created when a grantor transfers land conditionally In Property law and Real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of A concurrent estate or co-tenancy is a concept in Property law, particularly derived from the Common law of Real property, which describes A condominium, or condo, is a form of Housing tenure and other Real property where a specified part of a piece of real estate (usually of an apartment In law conveyancing is the transfer of title of Property from one person to another or the granting of an Encumbrance such as a Mortgage or A bona fide purchaser ( BFP) referred to more completely as a bona fide purchaser for value without notice is a term used in the Law of Real property Torrens title is a system of land title where a register of land holdings maintained by the state guarantees an indefeasible title to those included in the register Strata title is a form of ownership devised for multi-level apartment blocks. Estoppel by Deed - A doctrine where rules of evidence prevent a litigant from denying the truth of what was said or done A quitclaim deed is a term used to describe a document by which a person (the "grantor" disclaims any interest the Grantor may have in a piece of Real property A mortgage is the pledging of a property to a Lender as a security for a Mortgage loan. Equitable conversion is a doctrine of the Law of Real property under which a purchaser of real property becomes the equitable owner of title to the property at the An action to quiet title is a Lawsuit brought in a Court having Jurisdiction over land disputes in order to establish a party's title to Real property In Property law and Real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of A restraint on alienation, in the Law of Real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling The rule against perpetuities is a rule of law in effect under the property, Trusts, Estate, and Contract law of many Common law The Rule in Shelley's Case is a rule of law that may apply to certain Future interests in Real property and Trusts created in Common law jurisdictions In the Common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to Real estate by descent A nonpossessory interest in land is a term of the Law of Property to describe any of a category of rights held by one person to use land that is in the possession For railroad track easement see Track transition curve. An easement is the right or freedom to do something or the right to prevent Profit, but an entirely different meaning of the term analogous to an Easement. A covenant running with the land, is a Real covenant, in the Law of Real property. An equitable servitude is a term used in the Law of Real property to describe a Nonpossessory interest in land that operates much like a Covenant running In the law of real property fixtures are anything that would otherwise be a Chattel that have by reason of incorporation or affixation become permanently attached to Waste is a term used in the Law of Real property to describe a Cause of action that can be brought in Court to address a change in condition A partition is a term used in the Law of Real property to describe an act by a Court order or otherwise to divide up a Concurrent estate into Riparian Water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source Lateral and subjacent support, in the Law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining An assignment (Latin cessio) is a term used with similar meanings in the Law of Contracts and in the law of Real estate. Nemo dat quod non habet, literally meaning "no one give what one does not have" is a legal rule sometimes called the nemo dat rule that states that the purchase of A contract is an exchange of promises between two or more parties to do or refrain from doing an act which is enforceable in a court of law Tort law is the name given to a body of law that creates and provides remedies for civil wrongs that do not arise out of Contractual duties In Common law, a will or testament is a document by which a person (the Testator) regulates the rights of others over his or her Property The law of trusts and estates is generally considered the body of Law which governs the management of personal affairs and the Disposition of Property of The term criminal law, sometimes called penal law, refers to any of various bodies of rules in different Jurisdictions whose common characteristic is the potential The Law of evidence governs the use of Testimony (eg oral or written statements such as an Affidavit) and exhibits (e The Island of Maui is the second-largest of the Hawaiian Islands at 727

In the common law of property, personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come into possession of them. Common law refers to law and the corresponding legal system developed through decisions of courts and similar tribunals rather than through legislative statutes or executive Property is any physical or virtual entity that is owned by an individual The rights of a finder of such property are determined in part by the status in which it is found. Because these classifications have developed under the ancient and often archaic common law of England, they turn on fine and nuanced distinctions. England is a Country which is part of the United Kingdom. Its inhabitants account for more than 83% of the total UK population whilst its mainland

Lost property

Property is generally deemed to have been lost if it is found in a place where the true owner likely did not intend to set it down, and where it is not likely to be found by the true owner. At common law, the finder of a lost item could claim the right to possess the item against any other person in the world except the true owner. See Armory v. Delamirie, 1 Strange 505 (King’s Bench, 1722). Armory v Delamirie ( 1722) KB 1 Strange 505 93 ER 664, is a famous English case on Personal property law and finder's rights Case citation is the system used in many countries to identify the decisions in past Court cases either in special series of books called reporters The Queen's Bench (or during the reign of a male monarch the King's Bench) is the superior court in a number of jurisdictions within some of the Commonwealth realms Year 1722 ( MDCCXXII) was a Common year starting on Thursday (link will display the full calendar of the Gregorian calendar (or a

Bear in mind that the underlying policy goals to these distinctions are to (hopefully) see that the property is returned to its true original owner, or "title owner. " Most jurisdictions have now enacted statutes requiring that the finder of lost property must turn it in to the proper authorities; if the true owner does not arrive to claim the property within a certain period of time, the property is returned to the finder as his own. A statute is a formal written enactment of a Legislative authority that governs a Country, State, City, or County. In Britain, many public businesses have a lost property desk, which in the United States would be called a lost and found. The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom, the UK or Britain,is a Sovereign state located The United States of America —commonly referred to as the A lost and found ( American English and Canadian English) lost property ( British English) or lost articles (also Canadian English

There are a litany of often confusing common law exceptions to the rule that the first finder of lost property has a superior claim of right over any other person in the world except the true original owner. For example, as a general exception, trespassers will usually lose superior claim to any lost property they find in the course of their trespassing to the respective landowner. Trespass (Fr trespas a crime properly a stepping across from Lat As a corollary to this exception, landowners have superior claim over all finds made within the non-public areas of their property. For example, if a customer finds lost property in the public area of a store, the customer has superior claim to the lost property over that of the store-owner, but if the customer finds the lost property in the non-public area of that store, such in an area marked "Employees Only," the store-owner will have superior claim, as the customer was trespassing when he found it.

The status of finders as employees or tenants of the landowner complicates matters, because employees and tenants have legitimate access to non-public areas of a landowner's property that others would not, without trespassing. Employees and tenants, however, still usually lose superior claim over lost property to their employers or landlords, if the property is found within the scope of their employment, or outside the actual leased area, respectively. For example, if the lost property is found by a tenant inside the walls of their leasehold, or by an employee embedded within the soil of an estate owned by their employer, the landowner (as employer or landlord) of the property where it was found usually has a superior claim of right over that of the finder. However, this is not always the case, as a long-term tenant who finds lost property within the leased area of his leasehold may have a superior claim over that of his landlord (especially if the landlord has never been to property). While employers usually have a superior claim over lost property found by their employees, exceptions to this exists as well, as modern law sometimes grants the employee superior claim if turning over lost property to their employer is not part of their job description (such as if the employee is an interior decorator). Erickson v. Sinykin, 26 N. W. 2d 172 (Minn. 1947).

Mislaid property

Property is generally deemed to have been mislaid (some courts refer to it as misplaced) if it is found in a place where the true owner likely did intend to set it, but then simply forgot to pick it up again. For example, a wallet found in a shop lying on a counter near a cash register will likely be deemed misplaced rather than lost. Under common law principles, the finder of a misplaced object has a duty to turn it over to the owner of the premises, on the theory that the true owner is likely to return to that location to search for his misplaced item. If the true owner never shows up, the property becomes that of the owner of the premises. See McAvoy v. Medina, 93 Mass. (11 Allen) 548, (1866). Case citation is the system used in many countries to identify the decisions in past Court cases either in special series of books called reporters Year 1866 ( MDCCCLXVI) was a Common year starting on Monday (link will display the full calendar of the Gregorian calendar (or a Common

Treasure trove

Main article: Treasure trove

Treasure trove is property that consists of coins or currency hidden by the owner. A treasure trove may broadly be defined as an amount of gold silver gemstones money jewellery or any valuable collection found hidden underground or in places such as cellars A treasure trove may broadly be defined as an amount of gold silver gemstones money jewellery or any valuable collection found hidden underground or in places such as cellars To be considered treasure trove and not mislaid property, the property must have been deliberately hidden or concealed, and sufficiently long ago that the original owner can be considered dead or not discoverable. For example, under English law, 100 Roman coins found buried in a chest would be treasure trove; however, 100 Roman coins which were lost over time in a marketplace would not be treasure trove, as they were not deliberately hidden as a single hoard.

Under American common law, treasure trove belongs to the finder, unless the original owner reclaims. Some states have rejected the American common law and hold that treasure trove belongs to the owner of the property in which the treasure trove was found. These courts reason that the American common law rule encourages trespass. Trespass (Fr trespas a crime properly a stepping across from Lat

Under the traditional English common law, treasure trove belongs to the Crown, though the finder is paid a reward.

Abandoned property

Property is generally deemed to have been abandoned if it is found in a place where the true owner likely intended to leave it, but is in such a condition that it is apparent that the true owner has no intention of returning to claim the item. Abandoned property generally becomes the property of whoever should find it and take possession of it first, although some states have enacted statutes under which certain kinds of abandoned property — usually cars and wrecked ships and aircraft — become the property of the state. See Eads v. Brazelton, 22 Ark. 499 (Ark. 1861).

Recent developments

In the United States, the National Conference of Commissioners on Uniform State Laws sought to address the problems arising from these types of property through provisions of the Uniform Unclaimed Property Act. The United States of America —commonly referred to as the The National Conference of Commissioners on Uniform State Laws ( NCCUSL) is a non-profit unincorporated association in the United States that consists of Commissioners The act was first drafted and promulgated in 1981, and was revised in 1995. Year 1981 ( MCMLXXXI) was a Common year starting on Thursday (link displays the 1981 Year 1995 ( MCMXCV) was a Common year starting on Sunday. Events of 1995 The act specifically focuses on the problem of unclaimed money in bank accounts and corporate coffers, and the escheatment thereof. Escheat is a Common law doctrine that operates to ensure that property is not left in limbo and ownerless

Source

• Jesse Dukeminier and James E. Krier, Property, Fifth Edition, Aspen Law & Business (New York, 2002), p. Jesse Dukeminier (born in West Point Mississippi, August 12, 1925 - April 20, 2003) was a Professor of Law James E Krier is the Earl Warren DeLano Professor of Law at the University of Michigan Law School and the father of performer Andrew W 107–125. ISBN 0-7355-2437-8
• Jon W. Bruce and James W. Ely, Jr. , Cases and Materials on Modern Property Law, West Group (St. Paul, MN, 2003), p. 152. ISBN 0-314-26032-3

See also

• Squatting
• Adverse possession
• Escheat - transfer of ownership without a will or heirs
• Bona vacantia - precedent of escheat
• Probate - settling an estate after death
• Trover

External links

• Banglapedia: Abandoned Property
• National Association of Unclaimed Property Administrators
• Unclaimed Property Databases on PublicRecordsWire.com