Torts 8.txt

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

• True owner of property—
• (1) Has involuntarily or inadvertently lost possession of property,
• (2) BUT does not intend to give up title or control.

• Finder obtains both possession and title if—
• (1) He exercises control over the property;
• (2) With intent to assert ownership.

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

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

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

• (1) Finder turns property over to police;
• (2) Police hold property for statutorily prescribed period;
• (3) True owner does not claim within the prescribed period; AND
• (4) Finder asks police for property.

• (1) Donor has donative intent (give up title and possession), and
• (2) Valid acceptance by donee, and
• (3) 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

• (1) Debt relating to performance of services;
• (2) Creditor has possession of item in question; and
• (3) 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.
• Creditor's voluntary return of special-lien property extinguishes the lien, but does NOT release the debt.

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:
• (1) The property itself
• (2) 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.