Personal Property w/NY Distinctions

REAL PROPERTY TOPICS

-Abandoned Property
-Lost Property
-Gifts
-Liens
-Bailments

Abandoned v. Lost

ABANDONED:
-owner voluntarily gives up possession w/intent
-finder keeps by exercising control with intent to own
LOST:
-owner loses possession w/o intent
-true owner always entitled to recover

Rights of Finder of Lost Property

NY STATUTE:
-Less than $20 (make reasonable effort to find owner and after 1 yr it is yours)
-More than $20: turn it over to police who look for a reasonable period of time, w/a max of 3 yrs where prop is $5k+

GIFTS; Inter Vivos

PERMANENT IF:
-Donative Intent
-Acceptance
-Delivery (item or something representing it must be transferred)
DELIVERY ISSUES:
-First Party Check (can revoke until deposited and cleared)
-Third Party Check (delivered when check is turned over)
-Stock Certificates (turning paper over is enough)
-Agents (donor's agent-not delivered; recipient's agent-delivered)

GIFTS; Causa Mortis (in contemplation of death)

Def: Conditional Gift Based on Assumed Impending Death
MUST HAVE:
-imminent risk of death; and
-risk is likely to occur; and
-donor is aware
VOIDED IF:
-recipient dies before donor
-donor has miraculous recovery and wants to rescind

LIENS; Definition

Right to continue to possess and retain someone else’s personal property where:
- (1) that property has been improved or enhanced in value by the possessor; OR
- (2) where the possessor has rendered services with connection to the property...
until the possessor’s debt is satisfied
ELEMENTS:
-Debt Exists
-Debtor Has Title
-Creditor Has Possession and Acted On or In Connection With That Property in Some Way

LIENS; General and Specific

GENERAL LIENS:
-right to retain all of a bunch of property for a balance due
SPECIAL LIENS:
-right to retain specific property to secure a particular charge in connection with it

LIENS: IK/CC, WO, and GK

INN
-attaches to any prop brought in
-attaches to any prop turned over
WAREHOUSE OPERATOR:
-attaches to chattel as security for associated time/labor/storage charges (status under NY Con unclear)
GARAGEKEEPERS
-NY const prohibits ex parte sale of property to satisfy garagekeeper's lien

LIENS; Waiver

-Contract (e.g., K agreement to deliver goods before payment of services is to be made)
-Acceptance of Other Security
-Demand for Unlawful Charges
-Reservation of Lien for Temporary Use by Bailor (lien is not lost if lienholder surrends goods to the bailor specially reserving her lien, or the bailor is permitted to make temporary use of property)

BAILMENTS

CREATION
-Bailee must have intent, either specific or general to take actual or constructive possession
STD OF CARE
-generally reasonable care for a person of reasonable prudence

BAILMENTS; Black Box Issue

Bailee only responsible for what he knows or what is generally known to be in Items

BAILMENTS; NY Coat Check Provisions

--full value if neg, fee, and value >$200 declared
----no neg but everything else gets you $300
------$200 if you just have a receipt
None of this applies to a suit for theft

BAILMENTS; Misdelivery

Bailee has duty to deliver, and will be SL liable for any misdelivery. Also where Bailee has notice or reason to know of an adverse claim to bailed property SL will attach if delivered to a false owner

BAILMENTS; Limiting Liability

Generally allowed where there is a valid K (knowledge and assent to terms)
*NY: Bailee may not complete exculpate himself, can limit no full exculpatory disclaimers