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13 Cards in this Set
- Front
- Back
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FINDERS OF PERSONAL PROPERTY
Three factors dominate the analysis of finders’ rights: |
(1) the presumed intent of the original owner; (2) the identity of the competing claimants; and (3) the location where the item is found.
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FINDERS OF PERSONAL PROPERTY
Who is a “Finder”? |
The first person to take possession of lost or unclaimed personal property is a finder. Possession requires both (1) an intent to control the property and (2) an act of control.
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FINDERS OF PERSONAL PROPERTY
Four Traditional Categories |
1)Abandoned Property
2) Lost Property 3) Mislaid Property 4) Treasure Trove |
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FINDERS OF PERSONAL PROPERTY
Four Traditional Categories (Abandoned Property) |
Property is abandoned when the owner intentionally and voluntarily relinquishes all right, title, and interest in it.
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FINDERS OF PERSONAL PROPERTY
Four Traditional Categories (Lost Property) |
Property is deemed lost when the owner unintentionally and involuntarily parts with it through neglect or inadvertence and does not know where it is.
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FINDERS OF PERSONAL PROPERTY
Four Traditional Categories (Mislaid Property) |
Property is considered mislaid when the owner voluntarily puts it in a particular place, intending to retain ownership, but then fails to reclaim it or forgets where it is.
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FINDERS OF PERSONAL PROPERTY
Four Traditional Categories (Treasure Trove) |
Finally, English law recognized a category called treasure trove, consisting of gold, silver, currency, or the like intentionally concealed in the distant past by an unknown owner for safekeeping in a secret location.
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FINDERS OF PERSONAL PROPERTY
Rights of Finder Against Original Owner |
As a general rule, an owner retains title to lost or mislaid property found by another. In contrast, the first person who takes possession of abandoned property acquires title that is valid against the world, including the prior owner.
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FINDERS OF PERSONAL PROPERTY
Rights of Finder Against Third Persons Generally |
The finder acquires title to lost property that is superior to the claims of all other persons, except (1) the true owner and (2) sometimes the landowner.
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FINDERS OF PERSONAL PROPERTY
Rights of Finder Against Landowner |
Rights to Objects Found on Private Land
Lost objects found either within a house or embedded in the soil are generally awarded to the landowner, not the finder. The status of the finder is sometimes relevant here. A long-term tenant who finds an object will often prevail over the landowner, while a finder who is merely the landowner’s employee will not |
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FINDERS OF PERSONAL PROPERTY
Rights to Objects Found in Public Places |
A valuable object left in a public place is considered mislaid property and awarded to the owner or occupant of the premises, not the finder.
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FINDERS OF PERSONAL PROPERTY
Statues Defining Rights of Finders |
In many states, statues governing rights in “found” property supercede the confusing common law. The typical statute requires the finder to turn over the item to the local police department; the find is then advertised and the true owner has a set period (ranging from 90 days to one year) to file a claim. If no claim is made within this period, the item belongs to the finder. If the true owner makes a timely claim, some jurisdictions require that she pay a reward to the finder.
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FINDERS OF PERSONAL PROPERTY
Special Issue: Native American Artifacts |
Special rules govern ownership of Native American artifacts that are discovered on or under the land surface. Perhaps the most common approach is to treat the entire tribe as the original owner of such artifacts, such that newly-discovered artifacts always have a current owner whose rights will supercede the finder’s claim.
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