Torts 8

True owner of property intends to give up both (1) title, and (2) possession

True owner of property—

• has involuntarily or inadvertently lost possession of property, but
• does not intend to give up title or control

Finder obtains both possession and title if—

• He exercises control over the property, with
• intent to assert ownership

Value < $ 20—Title to found property vests in finder after . . .

• Finder makes reasonable effort to locate true owner, and
• True owner does not claim after 1 year

Value ≥ $ 20—Title to found property vests in finder after . . .

• Finder turns property over to police
• Police hold property for statutorily prescribed period
• True owner does not claim within the prescribed period
• Finder asks police for property

• Donor has donative intent (give up title and possession), and
• Valid acceptance by donee, and
• Delivery to donee

Notes:

• Acceptance may occur by affirmative act or silence
• Delivery includes delivery of actual property, or an emblematic representation of the property

Gift must be (1) in contemplation of death, and (2) donor's death must be imminent

• Notes:
• Donor's death must be objectively likely
• Donor must die (no gift if donor survives)
• No gift if donee predeceases donor

• Debt relating to performance of services
• Creditor has possession of item in question
• Debtor retains title to property

General Lien

• Creditor can satisfy lien with a variety of property
• E.g., self-storage warehouses
• Creditor's return of some property to debtor does not discharge general lien

• Special Lien
• Creditor has possession of specific property worked-on
• E.g., mechanic's lien
• Creditor's voluntary return of special-lien property extinguishes the lien

Occurs when someone takes possession of property for a specific time, and for a specific purpose

Must take reasonable steps to protect the bailed property.

Bailed property includes:

• The property itself
• Ordinary/Expected things inside the bailed property

Bailed property does not include unusual/unexpected things inside the bailed property, unless the bailed property is a safe-deposit box.