FINAL RULE SHEET
How did |get this property?
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Do I have 1ST POSSESSION of the property?
o Common law holds "first-in-time, first-in-right" -that is, a person who (1) controls or holds the
property, with or without a claim of ownership, (2) with an intent to possess, is the original
possessor with greater rights than the world.
By FIND?
o A finder of lost property is a person who (1) takes control of the property and (2) has the intent
of maintaining possession of the property; he has greater rights to the found property than the
whole world, except for the rightful owner, a prior or rightful possessor, or a person holding
through the rightful owner or possessor.