Personal Property + Possession

Question 1

real property

Answer 1

land and improvements attached to the land

e.g. buildings, fences

Question 2

personal property

Answer 2

all property other than real property

e.g. cars, clothing

Question 3

fixture

Answer 3

personal property that has been permanently attached to property, but that could be removed
e.g. dishwasher installed into a kitchen cabinet

Question 4

tangible personal property

Answer 4

assets of a physical nature

e.g. jewelry, furniture

Question 5

intangible personal property

Answer 5

assets that cannot be touched or seen but still possesses value
e.g. patents, stock

Question 6

possession

Answer 6

controlling or holding of personal property with(out) a claim of ownership

Question 7

elements of possession

Answer 7

• an intent to possess the property by the possessor

- his/her actual controlling or holding of the property

Question 8

relativity of title

Answer 8

a person can have a relatively better title or right to a possession than another, while simultaneously having a right inferior to yet another person

Question 9

rule of capture

Answer 9

with all else being equal, the chronologically first possessor has the better title

Question 10

ways to determine ownership of surface water

Answer 10

riparian rights and prior appropriation

Question 11

riparian rights

Answer 11

• each person with land abutting a water course may take water from it for any reasonable use
• primarily used by eastern states
• when water is scarce, the landowner cannot use the water to benefit non-riparian lands

Question 12

prior appropriation

Answer 12

• the first person to make beneficial use of water gains a vested right to continue to use the water
• primarily used by western states
• the person must file an administrative action with the state water agency or engineer

Question 13

types of groundwater

Answer 13

underground stream and percolating waters

Question 14

underground stream

Answer 14

groundwater that flows in a channel

Question 15

percolating waters

Answer 15

groundwater that does not flow in a channel

Question 16

ways to determine ownership of groundwater

Answer 16

reasonable use doctrine and correlative rights doctrine

Question 17

reasonable use doctrine

Answer 17

groundwater must be used only on the overlying land if use elsewhere would cause hardship to other landowners with access to the water

Question 18

correlative rights doctrine

Answer 18

groundwater is allocated based on the amount of land owned

Question 19

finder of lost property

Answer 19

person who takes control of the lost property and has the intent to maintain possession of the property

Question 20

conversion

Answer 20

using another person’s property in a way that is inconsistent with the rights of the true owner or rightful possessor of said property

Question 21

replevin

Answer 21

the action or remedy to recover the asset itself + any damages for injury to the asset

Question 22

trover

Answer 22

the action for monetary compensation for conversion of personal property

Question 23

subrogation

Answer 23

succession to another’s right or claim to property

Question 24

lost property

Answer 24

property the true owner unintentionally and unknowingly dropped or lost
- belongs to the finder unless and until the true owner is located

Question 25

mislaid property

Answer 25

property the true owner intentionally placed in a given location and then left, or intentionally left intending to return for it later - belongs to the owner of the locus in quo unless and until the true owner is located

Question 26

locus in quo

Answer 26

the landowner or lessee

Question 27

abandoned property

Answer 27

property the true owner intentionally and voluntarily relinquished with the intent to no longer own the object and without transferring his rights to another person

Question 28

elements of abandonment

Answer 28

- act of abandonment | - intent to abandon

Question 29

treasure trove

Answer 29

gold, silver, or currency intentionally concealed or placed underground with indications it has been so long concealed that the true owner has long since died

Question 30

bailment

Answer 30

- one person gives temporary possession of her property to another - results from an expressed or implied contract, agreement, or combination of the two - requires (1) the bailor to deliver the property to the bailee, and (2) the bailee to take physical control over the property from the bailor - the bailee should return the property in the same condition in which it was received from the bailor - a servant preserving the goods of the master is NOT a bailee; a servant is a custodian

Question 31

types of delivery

Answer 31

actual, constructive, symbolic

Question 32

actual delivery

Answer 32

bailor physically hands the property over to the bailee

Question 33

constructive delivery

Answer 33

the bailor gives the keys to a safe deposit box or heavy object (e.g. chest of drawers) to the bailee

Question 34

symbolic delivery

Answer 34

the bailor gives the bailee something symbolizing the object of the bailment (e.g token)

Question 35

constructive bailment

Answer 35

possession of personal property is acquired and retained under circumstances in which the recipient should keep it safe and return it to its owner

Question 36

bona fide purchaser (BFP)

Answer 36

person who buys property honestly and without notice of any conflicting claim on the property bought - must (1) act in good faith and without notice that the previous possessor did not have good title and (2) pay valuable consideration

Question 37

what are the exceptions to the maxim that "no one acquires greater rights in an object than one's vendor has to transfer

Answer 37

good faith purchasers and entrustments

Question 38

entrustment

Answer 38

true owner entrusts her property to a merchant who deals in the type of goods entrusted

Question 39

good faith purchaser

Answer 39

someone who bought a good without knowledge of void title by the seller

Question 40

void title

Answer 40

no title | - generally applicable to thieves and bailees (bailee exception: entrustees)

Question 41

voidable title

Answer 41

the true owner can rescind a transaction and get the property back - a wrongdoer can possess voidable title until the true owner rescinds - is transferred to the BFP once the wrongdoer sells the property to her

Question 42

gift

Answer 42

voluntary, non-contractual, gratuitous transfer of property made without legal consideration

Question 43

intervivos gift

Answer 43

gift made between living persons

Question 44

gift causa mortis

Answer 44

gift made on account of the owner's impending death | - can be revoked if the owner recovers from the cause of their impending death (e.g. illness)

Question 45

devise/bequest

Answer 45

transfer of property by will after a person's death

Question 46

elements of an intervivos gift

Answer 46

(1) donative intent (2) delivery of the object to the donee (3) donee's acceptance of the object

Question 47

donative intent

Answer 47

the donor's intent to transfer ownership of the object to donee - donee has a high burden of proof to show donative intent by the donor

Question 48

delivery

Answer 48

actual physical delivery of the object | - constructive or symbolic delivery can be acceptable if actual delivery is impossible

Question 49

elements of a fixture

Answer 49

(1) personal property is annexed (attached) to the realty (2) is adapted or applied to a particular use or purpose beyond itself and made a part of some larger component/function on the realty (3) intention to annex the property to the realty