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Property is generally deemed to have been abandoned if it is found in a place where the true owner likely intended to leave it, but is in such a condition that it is apparent that he or she has no intention of returning to claim it. Abandoned property generally becomes the property of whoever should find it and take possession of it first ...
Unowned property includes tangible, physical things that are capable of being reduced to being property owned by a person but are not owned by anyone. Bona vacantia (Latin for "ownerless goods") is a legal concept associated with the unowned property, which exists in various jurisdictions, with a consequently varying application, but with origins mostly in English law.
Each U.S. state has a recording act, a statute which dictates the legal procedure by which an individual claiming an interest in real property (real estate) formally establishes their claim to that property. The recordation of property rights becomes particularly significant where an unscrupulous dealer in land purports to sell the same tract ...
In general, a property owner has the right to recover possession of their property from unauthorised possessors through legal action such as ejectment.However, many legal systems courts recognize that once someone has occupied property without permission for a significant period of time without the property owner exercising their right to recover their property, not only is the original owner ...
In many jurisdictions, if the owner cannot be located, such property can be revocably escheated to the state. In commerce, it is the process of reassigning legal title in unclaimed or abandoned payroll checks, insurance payouts, or stocks and shares whose owners cannot be traced, to a state authority (in the United States).
The owner of a property has the right of possession and may assign that right wholly or partially to another who may then also assign the right of possession to a third party. For example, an owner of residential property may assign the right of possession to a property manager under a property management contract , who may then assign the ...
A mining claim is the claim of the right to extract minerals from a tract of public land. In the United States, the practice began with the California gold rush of 1849. In the absence of organized government, the miners in each new mining camp made up their own rules, and to a large extent adopted Mexican mining law.
Texas v. New Jersey, 380 U.S. 518 (1965), is a United States Supreme Court decision handed down on February 1, 1965. Concerning the authority of the state to escheat, or take title to, unclaimed personal property, the Court was petitioned, under its power of original jurisdiction, to adjudicate a disagreement between three states, Texas, New Jersey, and the Commonwealth of Pennsylvania, over ...