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Property I
Southern Illinois University School of Law
Lindsey, R. Hokulei

Property Outline
Lindsey – Fall 2007
 
GIFTS ELEMENTS- INTENT, DELIVERY, ACCEPTANCE.–Defined voluntary immediate transfer of property from the donor to the donee. 2 types- Inter vivos & Causa Mortis. Inter vivos-during lifetime, immediate transfer of gift between two living people. Valid if (3) – 1)donative intent, 2)delivery 2a)manual/actual 2b)constructive-keys 2c)symbolic-letter 3)acceptance-assumed unless refused. Causa Mortis- made in contemplation of an approaching imminent death, is substitute for will. “emergency will”. Revocable(3) 1.)Donor may revoke anytime before death. 2.) Automatically revoked if donor does not die from the anticipated peril. 3.) If donor outlives donee.
Causa Mortis Case Newman v. Bost 29 S.E. 848, Supreme Court of North Carolina, 1898                                                                             Cause:Acquisition of gift. Rule of Law (2 Elements) A)an intention to make the gift, and (B) a actual delivery of the thing given. Without both of these requisites, there can be no gift causa mortis. And both these are matters of fact to be determined by the jury, where there is evidence tending to prove them
 
Engagement rings:
Split in cts:
1.                              completed gift so not revocable
2.                              revocable if not married
3.                              if donor is at fault for break-up then don’t get ring back
4.                              does not matter who’s fault b/c ring is a conditional gift.
 
BANK ACCOUNTS:
Survivorship rights- Generally, if A/B have joint bank accts B will be entitled to take at A’s death unless clear evidence A did not want this to occur. 
 
Mod view says even if A reserved right to withdraw funds during his lifetime does not change the fact that B gets the funds on A’s death.
 
FIXTURES: Item of personal property attached to land in such a way that it becomes part of the realty, but retains its identity.
_      Considered part of real property
3 ELEMENTS TO MAKE A FIXTURE:
1.                Constructive annexation: exp- can’t take blades from ceiling fan even if not attached
2.                Adaptation- like wall-to-wall carpet cut to fit that house only.
3.                Intent- Objective standard:
_      nature
_      manner of annexation
_      injury to the land by it’s removal
_      completeness that chattel is integrated with the use of land
_      relation which the annexer has with the land such as licensee, tenant, fee owner
_      relation which the annexer has with chattel
_      local custom of such chattel
_      degree of social development (luxury in one may not be in another)
_    all relevant facts surrounding the annexation.
 
Title: Benjamin v. Lindner Aviation, 534 N.W.2d 400
Cause of Action:mislaid property
Facts: A finder discovered money $18,000 within the wings of an airplane that had been repossessed by the bank. Finder was inspecting the plane. The finder claimed that he was entitled to the money, after one year, sought a declaration of rights pursuant to Iowa Code § 644 (1991). The Iowa District Court for Lee County entered a judgment for the owner, but awarded the finder a 10 percent finder’s fee pursuant to Iowa Code § 644.13 (1991)..The owner of the plane claimed the money as against the finder.
 Issues:Whether or not the owner of the premesis had the right to mislaid property as against all but the true owner.
Posture: Trial court in favor of P. Both parties appealed. Both claim to be finders of the money after 12 months time for true owner to claim it. Third party also puts in claim to money. Appellate court affirmed trial court decision for P but reversed decision to

trove consists of coins or currency concealed by the owner. It includes an element of antiquity. To be classified as treasure trove, the property must have been hidden or concealed for such a length of time that the owner is probably dead or undiscoverable. Treasure trove belongs to the finder as against all but the true owner. The place where money or property claimed as lost is found is an important factor in the determination of the question of whether it is lost or only mislaid. Finder cannot be trespassing.
 
Rule of Law: Person who owns premesis will have superior rights to original owner. Property is not considered lost unless considering the place where and the conditions under which the property is found, there is an inference that the property is left there unintentionally. Mislaid property is entrusted to the owner of the premises where it is found rather than the finder of the property because it is assumed that the true owner may eventually recall where he places his property and return there to reclaim it. 
Lost or abandoned or treasure trove – finder could have kept it
Dissent – money looks old it isn’t mislaid its abandoned. However that don’t show how long money has been in plane. 2nd nobody claimed it after it was posted in paper. Should be abandoned.
This helps to reunite property with true owner. Protects the right of the owner, Protects against trespassing. Rewards honesty.
 
To be a finder you need 1. Possession 2. Intent to possess