**ALL 3 PRONGS MUST BE MET FOR A CHATTEL (MOVABLE PROPERTY) TO BECOME A FIXTURE - Both parties agree that second prong is met, but dispute the first and third prong - Court decided first prong was not met , annexation, and it need not consider any of the other facts presented - Later recognized the failed at evaluating PRONG 3: trial court recognized that it had not examined the facts regarding the Port’s intent to annex these cranes o The determinative factor for whether a chattel annexed to real property becomes part of the real property or retains its character as personal property is the third prong : the intent with which the chattel was annexed to the land ____________________________________________________________________________________ Trade Fixtures: exception to the rule that fixtures are a part of the real property. Personal property installed by tenant and remains the property of the tenant, unless removal would irreparably damage the building or realty. ACQUIRING OWNERSHIP OF PERSONAL PROPERTY By Purchase or by Will: to acquire you can purchase it or by a will or inheritance Possession: become owner by possessing or capturing it if no other person has ownership title; Finding lost or abandoned property. Ex: hunter capturing a wild animal Production: fruits of labor; writers, inventors, manufacturers who produce personal property may thereby acquire title to it. Gift: voluntary transfer of property ownership for which no consideration is given. Testamentary: gift made by will. KEY: *Not considered a gift till it is delivered and accepted. - 3 requirements that makes it a gift: o 1) donative intent on the part of the donor o 2) delivery – physically delivered to the donee o 3) acceptance by the donee. - Constructive Delivery: delivery of an intangible gift ex: stocks, insurance policies (documents represent the rights and are not the true property Relinquishing Dominion and Control : when donor gives up control and ownership rights off the subject matter of the gift CASE 49.2: IN RE ESTATE OF PIPER Story: Gladys Piper died without a will. She had 2 diamond rings in her purse when she died. The purse was taken by her niece Wanda Brown. Clara Kauffman, a friend of Piper, filed a claim against the estate for $4,800. Clara had been taking care of Piper by running errands w/ her and caring for her home. Clara said that Piper had promised to pay her for these services and that Piper had intended to give her the diamond rings. The court denied to pay her based on service fees. Clara then filed a “petition for delivery of personal property (the rings), which was granted by the trial court.
Takeaway: language written or spoken, expressing an intention to give, does not constitute a gift, unless
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- Fall '08
- Business Law Outlines, Briere