Exam 36: Personal Property

Mary goes hunting during elk season. While trespassing on Nate's rural land, she shoots an elk. This elk is the property of

Water is not considered personal property for the purpose of criminal prosecution when it is stolen or used without authorization.

In a joint tenancy , each co-owner owns an undivided interest in the property.

Many states require the owner of lost property to make a reasonably diligent search to locate the finder.

Inadvertently, Brie loses her textbook during an afternoon in City Park. She eventually gives up any attempt to find it. The textbook will then most likely be considered

A finder of mislaid property obtains title to the goods.

Property that has been discarded by the true owner, who has no intention of reclaiming title to it, is abandoned property.

Inadvertently, Ralph leaves his phone at Sushi Café when he stops for lunch. The phone is

Persons who share ownership rights simultaneously in particular property are concurrent owners.

Even if the true owner of lost property demands that it be returned, the finder of the property is not obligated to surrender it.

Generally, there is no dispute about who owns the property after accession has occurred.

Arnold wants to give Beth a pearl necklace that he has in his safe deposit box at Capital Bank. The bank is closed for a holiday. Arnold gives Beth a key to the box and tells her to go to the bank after the holiday and take the necklace. Beth does this. The next day, Arnold dies unexpectedly. His heirs want the necklace. Can Beth keep the necklace? Explain.