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18 Cards in this Set

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  • Back
Real Property
land and things imbedded in land. Ex. fence, tree rooted in land
personal property
property that is moveable or intangible. Ex. book bag, song, idea
property
peice of land, or a thing, or an object
absolute ownership
a person who has all possible rights in and over a thing
6 ways to acquire title to personal property
gift, finding lost property, transfer by non-owner, occupation, escheat, purchase
intere vivos gift
gift that is made between 2 lving persons
conditional gift
gift that is given once something is accomplished
gift causa mortis
made when donor, contemplating imminent death, delivers personal property to the donee with the intent that donee shall own it if donor dies
anatomical gift
persons may make gifts of parts of their bodies.
uniform anatomical gift act
permits persons 18+ to make gifts of their bodies or any part thereof. gift takes affect on death of donor
wild animals
when living in a state of nature, wild animals are not owned by any individual. once animal is killed, tied, emprisoned, hunter becomes owner
severalty
when all rights in a particular object of property are held by one person
escheat
when propert is transferred to the gov't because person dies without a will or heir
tendancy in common
each individuals would have equal use of property even if one pays more than the other
community property
property acquired during the period of marriage. this property is divided in half if marriage ends
abandoned property
ownership may be acquired by taking possesion of it with intent to exclude others
lost property
finders have right of protection over everyone except original owner
mislaid property
intentionally placed item that owner cannot recall where it is.