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personal property

property that is movable; any property that is not real property

fee simple

a form of property ownership entitling the property owner to use, possess, or dispose of the property as he or she chooses during his or her lifetime

tenancy in common

co-ownership of property in which each party owns an undivided interest that passes to his or her heirs at death

joint tenancy

the ownership interest of 2 or more co-owners of property whereby each owns an undivided portion of the property

community property

a form of concurrent ownership of property in which each spouse owns an undivided one-half interest in most property acquired by the husband or wife during the course of marriage

gift

any voluntary transfer of property made without consideration, past or present

dominion

the rights to own, use, and possess property

constructive delivery

an act equivalent to the physical delivery of property that cannot be physically delivered because of difficulty or impossibility

gift inter vivos

a gift made during one's lifetime and not in contemplation of imminent death, in contrast to a give cause mortis

gift causa mortis

a gift made in contemplation of death...if the donor does not die of that ailment, the gift is revoked

accession

increasing the value of property by adding something

confusion

the mixing together of goods belonging to two or more owners so that the independent goods cannot be identified

mislaid property

property with which the owner has voluntarily partied and then cannot find or recover

lost property

property with which the owner has involuntarily parted and then cannot find or recover

abandoned property

property with which the owner has voluntarily parted, with no intention of recovering

treasure trove

money or coin, gold, silver, or bullion found hidden in the earth or other private place, the owner of which is unkown, literally found treasure

bailment

an agreement in which the personal property of one person (a bailor) is entrusted to another (a bailee), who is obligated to return the bailed property to the bailor or dispose of it as directed

bailor

one who entrusts goods to a bailee

bailee

one to whom goods are entrusted by a bailor

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