Property I Outline 1 - 1PROPERTY OUTLINE When you own...

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1 PROPERTY OUTLINE When you own property, you have a bundle of rights associated with the ownership of the property: 1. Right to income 2. Right to gains 3. Right to exclude others 4. Right to use 5. Right to transfer (either whole or in parts) 6. Right to possess Possession-- Dominion and Control Title-- Ownership I. Wild Animals "Ferea Naturae" A. To obtain possession of a wild animal, the pursuer must substantially restrict the animal's liberty, e.g. trapping or mortally wounding it. Merely hunting it is not sufficient. See Pierson v. Post. B. If the possessor does not keep the animal caged, but trains it to return home periodically, the animal is considered domesticated, and not able to be possessed by another who captures it because it is no longer a wild animal. C. If a wild animal escapes the possessor, it returns to its original state and is able to be caught by another. An exception to this is if the wild animal is unusual in that area, the subsequent finder must assume that someone brought it there, e.g. a giraffe in Alabama. II. Finders of Property A. When someone finds property, it depends upon how the property is classified as to who gets ownership. 4 Classifications: 1. Lost Property --Owner unintentionally and involuntarily parted with the property and does not know where it is. The Finder gets possession against all except the true owner. See Hannah v. Peel. A third party who tries to take it because they know it was found is not entitled to possession. See chimney sweep example. 2. Mislaid Property --Owner voluntarily puts property in a certain place but overlooked or forgot where they put it. The owner of the property on or in which the property is found gets possession. See McAvoy v. Medina 3. Abandoned Property --Owner no longer wants it and relinquished their possession. Finder gets possession against all. 4. Treasure Trove --Coins or currency of antiquity that has been hidden (usually buried) for such a long period of time, the owner is probably dead or undiscoverable. Finder gets possession against all but true owner. See Benjamin v. Lindner Aviation. B. The whole point in finders law is to enable the original owner to be able to discover what they lost. For this reason, the first finder of lost property is always able to retain possession over subsequent finders. See lost watch example. X found a watch, then lost it. Z found the watch. X may retain possession of the watch from Z. Same if Z stole it from X. Same if X had stolen the watch from true owner. C. Even if the finder committed a tort (trespassing), the finder of lost property is entitled to possession against all but the true owner and the owner of the land on which it was found. Third parties may not claim it. See Anderson v. Gouldberg. Land owners often have a claim to the possession if it was embedded or affixed to their property. See Meteorite example. D.
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This note was uploaded on 12/01/2009 for the course LAW 577 taught by Professor Staff during the Spring '08 term at University of Arizona- Tucson.

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Property I Outline 1 - 1PROPERTY OUTLINE When you own...

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