Study sets matching "personal property"

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Study sets matching "personal property"

11 terms
Personal Property
homeowner's insurance
real property
personal property
types of homeowner's insurance coverage
A policy that protects against risk of loss to a home and its…
Permanent structures, such as buildings.
The contents of your home - such as furniture, appliances, cl…
Fire and Other hazards... Criminal Activity... Personal Liability
homeowner's insurance
A policy that protects against risk of loss to a home and its…
real property
Permanent structures, such as buildings.
39 terms
GA PROPERTY & CASUALTY INSURANCE TEST - PERSONAL AUTO
Personal Automobile Policy
Financial Responsibility State
Financial Responsibility
Compulsory Insurance Laws
• Accounts for 40% of all premiums ... • Vehicles registered to…
• Georgia is a financial responsibility state ... o To legally o…
may be show by the following: ... 1. Personal automobile insuran…
25/50/25 state minimum limits (split) ... $25,000 bodily injury…
Personal Automobile Policy
• Accounts for 40% of all premiums ... • Vehicles registered to…
Financial Responsibility State
• Georgia is a financial responsibility state ... o To legally o…
42 terms
Personal Property
Personal Property
Crops
Conveyance of land with crops
Doctrine of emblements
Personal property is property that is movable.
Crops such as trees, bushes, grass, and other vegetation that…
When conveying land, any crops that grow on the land, includi…
Former tenants have the right to enter land to cultivate and…
Personal Property
Personal property is property that is movable.
Crops
Crops such as trees, bushes, grass, and other vegetation that…
Personal Property
Ratione soli
Bailment
Bailment solely for the benefit of the…
Mutual benefit bailment requires:
landowner has constructive possession of wild animals while t…
Delivery of personal property by one person to another who ho…
Slight care
Ordinary care
Ratione soli
landowner has constructive possession of wild animals while t…
Bailment
Delivery of personal property by one person to another who ho…
14 terms
Personal Property
Cases on Acquisition of Property Right…
Post v. Pierson: Ownership by Occupancy
Liesner v. Wayne
Ragione soli doctrine
Post v. Pierson... Liesner v. Wayne
-Property right acquired by first occupancy... -Elements:... -Spec…
Specific Test:... 1. Deprivation of liberty; brought under contr…
...
Cases on Acquisition of Property Right…
Post v. Pierson... Liesner v. Wayne
Post v. Pierson: Ownership by Occupancy
-Property right acquired by first occupancy... -Elements:... -Spec…
10 terms
Personal Property
acquire (v.)
assess (v.)
asset (n.)
hazardous (adj.)
to get something, usually something with special value or mea…
to estimate the value of something for taxation
a thing of value, especially property, that a person or compa…
risky, dangerous
acquire (v.)
to get something, usually something with special value or mea…
assess (v.)
to estimate the value of something for taxation
Personal Property
acquire
assess
asset
hazardous
v. To get something, usually something with special value or…
v. To estimate the value of something... The Barnes building was…
n. A possession that has positive value... Usage tips Some examp…
adj. Dangerous... Parents have to be careful not to buy children…
acquire
v. To get something, usually something with special value or…
assess
v. To estimate the value of something... The Barnes building was…
25 terms
Personal Property
Property
Personal property
Goods
Intellectual property
A thing, tangible or intangible, that is subject to ownership…
Something that is either movable or intangible. The rights to…
Items of tangible personal property.
Purely intangible...that is one cannot touch it. Includes cop…
Property
A thing, tangible or intangible, that is subject to ownership…
Personal property
Something that is either movable or intangible. The rights to…
17 terms
Personal Property
Bundle of Rights
Right to Use
Right to Possession
Right to Disposition
1. Right to possession... 2. Right to use... 3. Right to dispositio…
The property owner has the right to possess the property. If…
A property owner has the right to possess the property. This…
Allows the property owner to dispose of the property as he or…
Bundle of Rights
1. Right to possession... 2. Right to use... 3. Right to dispositio…
Right to Use
The property owner has the right to possess the property. If…
Personal Property
Personal property
Personal property
Emblements
Trade Fixtures
chattel, personalty
Not attached to land, is movable, it does NOT pass w/ the lan…
Personal property of the one who did the planting-CORN
Business Fixtures
Personal property
chattel, personalty
Personal property
Not attached to land, is movable, it does NOT pass w/ the lan…
Personal Property
acquire
assess
asset
hazardous
(v.)... To get something, usually something with special value o…
(v.)... To estimate the value of something
(n.)... A possession that has positive value
(adj.)... Dangerous
acquire
(v.)... To get something, usually something with special value o…
assess
(v.)... To estimate the value of something
Personal Property
acquire
assess
asset
hazardous
to get something, usually something with special value or mea…
to estimate the value of something
a possession that has a positive value
dangerous
acquire
to get something, usually something with special value or mea…
assess
to estimate the value of something
10 terms
Personal Property
acquire
assess
asset
hazardous
v. To get something, usually something with special value or…
v. To estimate the value of something
n. A possession that has positive value
adj. Dangerous
acquire
v. To get something, usually something with special value or…
assess
v. To estimate the value of something
20 terms
Property - Personal Property / Bailments
Pierson v. Post
Interference by non-competitor
Chattel
Lost Chattel
Un-owned property belongs to the capturer. Mere pursuit is no…
Not allowed. Non-competitor who interferes is liable for dama…
Moveable, personal property
Property unintentionally separated from the owner in a public…
Pierson v. Post
Un-owned property belongs to the capturer. Mere pursuit is no…
Interference by non-competitor
Not allowed. Non-competitor who interferes is liable for dama…
23 terms
Personal Property
Lost Def
Mislaid Def
Abandoned Def
Lost Entitled to Possession
accidentally and involuntarily parted with property and dont…
intentionally placed and thereafter forgotten
intent to give up title and possession
Finder, except against true owner
Lost Def
accidentally and involuntarily parted with property and dont…
Mislaid Def
intentionally placed and thereafter forgotten
10 terms
Personal Property
Creation of New Property - 3 requireme…
copyright
Replevin (CL) has been replaced in Mic…
Adverse possession of Personal Property
1. work must be in an actual form - not just an idea... 2.must b…
owners lifetime plus 70 years... if owner is anonymous - 95 yea…
claim and delivery
i) actual... ii) open and notorious (hard to satisfy)... iii) hosti…
Creation of New Property - 3 requireme…
1. work must be in an actual form - not just an idea... 2.must b…
copyright
owners lifetime plus 70 years... if owner is anonymous - 95 yea…
19 terms
Personal Property
Personal Property
Ownership
Custody
Possession of personalty
Moveable Property. ... Leases of land for a term of years are c…
Is a measure of rights in the property as against all the wor…
Is mere physical control of personalty.
Is custody plus an intent to assert a right of dominion over…
Personal Property
Moveable Property. ... Leases of land for a term of years are c…
Ownership
Is a measure of rights in the property as against all the wor…
8 terms
Personal Property
Tenancy by entireties termination
joint tenancy in personal property
Transfer of title
Lost, Mislaid, or abandoned
death... divorce... joint conveyance
NOT recognized BUT tenancy in common with right of survivorship
no better title than transferor... voidable title- good title to…
lost- casually and involuntarily parts with possession and do…
Tenancy by entireties termination
death... divorce... joint conveyance
joint tenancy in personal property
NOT recognized BUT tenancy in common with right of survivorship
13 terms
Personal Property
Lost vs. Abandon Property
Finder of lost property
Trespasser
Highly Private Locus
The fact that property is lost or mislaid does not mean the o…
Finder is entitled to possession of lost property except agai…
Items found by trespassers belong to the true owner. period
Areas that are considered highly private - like a home - give…
Lost vs. Abandon Property
The fact that property is lost or mislaid does not mean the o…
Finder of lost property
Finder is entitled to possession of lost property except agai…
Personal Property
Found Property: Primary principle:
Found Property: Second principle:
Found Property: Third principle:
Found Property: Traditional Categories:
return to the owner, if possible.
reward the finder, if no owner.
escheat of certain property to state.
Abandoned property;... Lost property;... Mislaid property;... Treas…
Found Property: Primary principle:
return to the owner, if possible.
Found Property: Second principle:
reward the finder, if no owner.
18 terms
Personal Property
4 main rights in property
real property
personal property
found property
exclude, possess, use, transfer... if you have all these it is…
land and everything affixed to the land with the intent that…
all property that is not real property... it is moveable ... litera…
who gets possession? who is in court? ... found by a finder and…
4 main rights in property
exclude, possess, use, transfer... if you have all these it is…
real property
land and everything affixed to the land with the intent that…
Personal Property
acquire
assess
asset
hazardous
To get something, usually something with special value or... mea…
To estimate the value of something
A possession that has positive value
Dangerous
acquire
To get something, usually something with special value or... mea…
assess
To estimate the value of something
65 terms
Chapter 3 - personal property
chattels
four different ways to acquire rights…
the rule of capture
wild animal = ferae naturae
tangible personal property
(a) capture; (b) find; (c) adverse possession; and (d) gift.
awards property rights to the person who brings a wild animal…
unowned while roaming in their natural habitat.
chattels
tangible personal property
four different ways to acquire rights…
(a) capture; (b) find; (c) adverse possession; and (d) gift.
23 terms
Personal Property
Real Property - Definition
Personal Property - Definition
Doctrine of Emblements
Fixtures
All land and everything affixed to the land with the intent t…
All property that is not real property, i.e. movable. ... Examp…
former tenant can reenter and remove crops planted by him pri…
A chattel annexed to real property is converted from personal…
Real Property - Definition
All land and everything affixed to the land with the intent t…
Personal Property - Definition
All property that is not real property, i.e. movable. ... Examp…
Personal Property
Real Property
Personal Property
Fixtures
Leaseholds
Property that cannot be moved (e.g., land).
Movable property (e.g., personal possessions).
Chattel converted from personal property to real property by…
Estates in land.
Real Property
Property that cannot be moved (e.g., land).
Personal Property
Movable property (e.g., personal possessions).
Personal Property
Personal Property
Trover
Trespass
Replevin
All things not real property and moveable, including copyright
recover value of chattel plus damages for dispossession
recover money damages for dispossession
recover the chattel himself
Personal Property
All things not real property and moveable, including copyright
Trover
recover value of chattel plus damages for dispossession
20 terms
Personal Property
Real Property vs. Personal Property
Abandoned Property
Lost Property
Mislaid Property
All land and everything afixed to the land with the intent th…
(1) Is it abandoned?... -Abandoned if owner has voluntarily giv…
Found property where owner took no voluntary or affirmative a…
Owner has taken some voluntary or aff. act in placing it down…
Real Property vs. Personal Property
All land and everything afixed to the land with the intent th…
Abandoned Property
(1) Is it abandoned?... -Abandoned if owner has voluntarily giv…
30 terms
Personal Property
Real Property
Personal Property
Found Property - Categories
Found Property - Abandoned Property -…
All land & everything affixed to the land with the intent tha…
All property that's not real property, it's movable
Abandoned... Lost... Mislaid
1. Is it abandoned? 2. If it is, has someone acquired rights…
Real Property
All land & everything affixed to the land with the intent tha…
Personal Property
All property that's not real property, it's movable
62 terms
Personal Property
Requirements for copyright
Possessor without title can pass title…
Fraudulent co-mingling of like goods
Adverse Possession of Personal Property
(i) new and original; ... (ii) in a concrete rather than abstrac…
Generally, one who does not have title to goods cannot pass t…
An owner who fraudulently comingles her goods with the same k…
Possession must be:... (i) actual; ... (ii) open and notorious; ... (i…
Requirements for copyright
(i) new and original; ... (ii) in a concrete rather than abstrac…
Possessor without title can pass title…
Generally, one who does not have title to goods cannot pass t…
Personal Property
Abandoned Property
Acquiring rights to abandoned property
Safe Deposit Boxes
Lost and Unclaimed Property Act
(1) Intention by the owner to voluntarily relinquish the pers…
Finder must had possession with the intent to assert title an…
All personal property that goes unclaimed for 3 years after e…
The finder of personal property prevails over all others, inc…
Abandoned Property
(1) Intention by the owner to voluntarily relinquish the pers…
Acquiring rights to abandoned property
Finder must had possession with the intent to assert title an…
9 terms
Personal Property
Property is Abandoned when
Lost Property
Mislaid Property
Inter-Vivos Gifts
1. Voluntarily given up possession... 2. Intent to give up control
1. No Voluntary Affirmative Act... 2. Accidental... Finder gen wins
1. Voluntary Act in Placing it down + ... 2. Leaves it Behind... O…
1. Donative Intent... 2. Valid Delivery... 3. Valid Acceptance
Property is Abandoned when
1. Voluntarily given up possession... 2. Intent to give up control
Lost Property
1. No Voluntary Affirmative Act... 2. Accidental... Finder gen wins
13 terms
Personal Property
Real property
Personal property
Sale and purchase
Gift
land and anything permanently attached to it (fixtures)
property not attached to land, or movable property
acquiring party gives consideration to seller in exchange for…
no consideration given to transferor by transferee
Real property
land and anything permanently attached to it (fixtures)
Personal property
property not attached to land, or movable property
10 terms
Personal Property
Bailment
Gifts
Gifts inter vivos
Gift causa mortis
The act of placing property in the custody and control of ano…
voluntary transfer of personal property without consideration…
gift made during the donors life when donor is not under any…
gift made in contemplation of immediately approaching death…
Bailment
The act of placing property in the custody and control of ano…
Gifts
voluntary transfer of personal property without consideration…
11 terms
Personal Property
Personal Property
Intellectual Property
Patent
Copyright
Everything other than real property, that can be owned
An original work fixed in a tangible medium of expression
A grand=t giving an inventor the exclusive right to make, use…
A right granted to an author, composer, photographer, or arti…
Personal Property
Everything other than real property, that can be owned
Intellectual Property
An original work fixed in a tangible medium of expression
personal property
acquire(v)
assess(v)
asset(n)
hazardous(adj)
to get something, usually something with special value or mea…
to estimate the value of something
a possession that has positive value
dangerous
acquire(v)
to get something, usually something with special value or mea…
assess(v)
to estimate the value of something
8 terms
Personal Property
Title
Lost property
Mislaid property
Abandoned property
Transferee gets not better title than transferor had... -shitty…
casually and involuntary parts with possession and does not k…
intentionally places it somewhere and forgets it... -owner of lo…
The owner voluntarily relinquishes all rights in it
Title
Transferee gets not better title than transferor had... -shitty…
Lost property
casually and involuntary parts with possession and does not k…
84 terms
Personal Property
Chattels Perosnal
Chattels Real
Choses in Action
Detinue
moveable, visable and tangible
Any interest in real estate less than a freehold estate. Incl…
Perosnal Rights that are not reduced to possession but are re…
P seeks to recvoer PP that has been wrongfully taken or detai…
Chattels Perosnal
moveable, visable and tangible
Chattels Real
Any interest in real estate less than a freehold estate. Incl…
17 terms
Personal Property
Abandoned Property
Lost and Mislaid Property... (lost)
Lost and Mislaid Property... (mislaid)
Lost and Mislaid Property... (rules)
1. Is it abandoned?... --owner VOLUNTARILY give up POSSESSION wi…
found property where the owner took NO voluntary affirmative…
found property where the owner has taken some VOLUNTARY act i…
MISLAID --> owner or occupier of the premises on which the pr…
Abandoned Property
1. Is it abandoned?... --owner VOLUNTARILY give up POSSESSION wi…
Lost and Mislaid Property... (lost)
found property where the owner took NO voluntary affirmative…
Personal property
S 9 PLA2007
Norman v Fed Commissioner of Taxation
Shower v Pilck
Williams v Williams
A deed must be in writing, signed, witnessed, & delivered.
"... it is not that the deed takes the place of valuable cons…
Facts: Deceased says to daughter in law "I will give you all…
Facts: Dad buys pianola. Son learns to play piano on it. It b…
S 9 PLA2007
A deed must be in writing, signed, witnessed, & delivered.
Norman v Fed Commissioner of Taxation
"... it is not that the deed takes the place of valuable cons…
13 terms
Personal Property
What are the categories of found prope…
Abandoned Property
Abandonment
Acquired Rights in Abandoned Property…
Abandoned Property... Lost Property (including treasure troves)…
Is it Abandoned? ... If YES, has someone acquired rights in it?
occurs where owner has VOLUNTARILY given up possession with t…
a finder has possession WITH the intent to assert title and c…
What are the categories of found prope…
Abandoned Property... Lost Property (including treasure troves)…
Abandoned Property
Is it Abandoned? ... If YES, has someone acquired rights in it?
Personal Property
Real Property
Personal Property
Fructus Naturales
Fructus Industriales
Immovable property, consisting of land, things fixed to land…
Moveable, which includes anything that is not real property
Crops that grow spontaneously on the land are real property
Crops that are the result of human labor--generally regarded…
Real Property
Immovable property, consisting of land, things fixed to land…
Personal Property
Moveable, which includes anything that is not real property
28 terms
Personal property
Real property
Personal property
Tangible property
Intangible property
Is the land and everything attached to it
Everything that can be owned that is not real property
Can be touched
Has no substance and cannot be touched such as a patent copyr…
Real property
Is the land and everything attached to it
Personal property
Everything that can be owned that is not real property
Personal Property
What is real property?
What is personal property?
3 categories of found property
Abandoned property 2 step analysis
All land everything affixed to it with the intent that it be…
All property that is not real property.... Movable things (plus…
1. abandoned property... 2. lost property... 3. mislaid property
1. Is it abandoned?... 2. If it is, has someone acquired rights…
What is real property?
All land everything affixed to it with the intent that it be…
What is personal property?
All property that is not real property.... Movable things (plus…
24 terms
Personal Property
Crops as personal property
Wild animals as personal property
Literary property
Bona fide purchaser
- Fructus industralies: crops result of human labor. Personal…
- Dominion and control = possession... - Animals caught in trap…
For copyright, work must be:... - In concrete form... - New... - Fixed…
- One who does not have title to goods can pass title:... • Wit…
Crops as personal property
- Fructus industralies: crops result of human labor. Personal…
Wild animals as personal property
- Dominion and control = possession... - Animals caught in trap…
17 terms
Personal Property
Abandoned
lost
misplaced
Exceptions to misplaced/lost
has the property been abandoned?... 1) did one give up possessio…
threshold- is property lost or misplaced. ... **the "true owner'…
you voluntarily place it somewhere and then forget to take it…
1) finder is a trespasser... 2) highly private locus (your house…
Abandoned
has the property been abandoned?... 1) did one give up possessio…
lost
threshold- is property lost or misplaced. ... **the "true owner'…
54 terms
Personal Property
Personal Property: Definition
Found Property: 3 Kinds
Abandoned Property: Definition
Abandoned Property: Acquiring Title
Everything that is not real property or fixtures
1. Abandoned... 2. Lost... 3. Mislaid
Property is abandoned if possession of it is voluntarily give…
Finder has title if he has obtains possession with intent to…
Personal Property: Definition
Everything that is not real property or fixtures
Found Property: 3 Kinds
1. Abandoned... 2. Lost... 3. Mislaid
12 terms
Personal Property
Real Property vs. Personal Property
3 Categories of Found property
Found property: (1) abandoned property
Found property: (2) lost property & (3…
Real property: Land + fixtures ... Personal property: Anything…
(1) abandoned property ... (2) lost property ... (3) mislaid property
- Abandoned property is a subset of unowned property ... - 2 que…
- Two people fighting over property: the finder, and the land…
Real Property vs. Personal Property
Real property: Land + fixtures ... Personal property: Anything…
3 Categories of Found property
(1) abandoned property ... (2) lost property ... (3) mislaid property
35 terms
PERSONAL PROPERTY
What is PP?
What are the 3 categories of found pro…
Abandoned Property... Step 1: Is is aban…
Abdandoned Property ... Step 2: If aband…
all property that is NOT real property,
1. Abandoned Property ... 2. Lost Property ... 3. Mislaid Property
PP is abandoned if the owner has VOLUNTARILY given up POSSESS…
A finder acquires rights in the abandoned property if the fin…
What is PP?
all property that is NOT real property,
What are the 3 categories of found pro…
1. Abandoned Property ... 2. Lost Property ... 3. Mislaid Property
Personal Property
Standard of care for a bailment benefi…
Standard of care for a bailment benefi…
Standard of care for a mutual bailment
Bailment requires _____________ posses…
Bailee liable for actions of gross negligence
Bailee liable for actions of merely slight negligence
Bailee will be liable for any actions that violate the standa…
Physical Possession ... Intent to Control
Standard of care for a bailment benefi…
Bailee liable for actions of gross negligence
Standard of care for a bailment benefi…
Bailee liable for actions of merely slight negligence
Personal Property
What does annexation mean?
When can PP be severed from RP? (E3)
What is a fixture? What effect of crea…
What are crops real property vs. perso…
R: Personal property can be fixed or annexed to real property…
R: One can sever PP from RP if:... E1: No intent to make a perm…
R: Chattel is converted from PP to RP by attaching it to the…
R: Wild crops are RP; Cultivated crops are PP... R: When conveyi…
What does annexation mean?
R: Personal property can be fixed or annexed to real property…
When can PP be severed from RP? (E3)
R: One can sever PP from RP if:... E1: No intent to make a perm…
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