Rights of Finders of Personal Property

Lost Property:

1. Owner unintentionally parted with possession.
2. Rights superior to any one except the original owner. Does not have a duty to seek to locate true owner.
3. The original owner has retained ownership, and has the right to the return of the property.

Misplaced Property:

1. Owner intentionally put the property in a place but unintentionally left it there.
2. None: person in possession of found personal property holds it for the owner, and has rights superior to everyone except the owner.
3. The original owner has retained ownership and has the right to the return of the property.

Abandoned Property:

1. Owner intentionally placed property out of their possession with the intent to relinquish ownership of it.
2. Finder who takes possession with intent to claim ownership acquires ownership of the property.
3. The owner who abandoned the property has no further rights in it.

Types of Ownership of Personal Property

1. Joint Tenancy
2. Tenancy in common
3. Tenancy by the entirety
4. Community property
5. Dower and Courtsey