1. spaghetti pasta canned tomato sauce new and gently used blankets
spaghetti pasta
canned tomato sauce 
new and gently used blankets
Chapter 15

2. 15-2 How Property Is Acquired and Held
GOALS
State the different ways of acquiring property
Differentiate the various ways of holding ownership to property
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3. FOCUS How can you acquired property? Assignment
Research the 7 ways property is acquired
Define Eminent Domain
Cite one court Example
Put Results in a PPT
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4. WAYS OF ACQUIRING PROPERTY?
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5. The Obvious Ways Contract Intellectual Labor Inheritance Purchase
Invention/Creation
Inheritance
Death
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6. Gift 3 Binding Elements Intent, Delivery Acceptance
What if someone promises you a gift? No
Note: Constructive Delivery
Symbol in place of real property (keys, deed)
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7. Gift 3 Binding Elements Acceptance Conditional
If not reject in reasonable amount of time its accepted
If gift is used to the benefit of the receiver its accepted
Conditional
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8. Gift 3 Binding Elements Acceptance (Conditional)
Causa mortis (expecting death)
Giver can revoke before death
Not valid if
Recovers
Dies of different cause
Inter vivos (during life)
Cant revoke
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9. Acquiring: Accession
The right of an owner of property that produces property
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10. Acquire: Finding Property belongs to rightful owner
Finder must return if known
Mislaid vs Lost Property
Lost
Owner doesn’t know when or where
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11. Acquire: Finding Mislaid vs Lost Property Mislaid Property
Placed in a place where owner knows they
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12. Occupancy Claiming property that belongs to noone
Abandoned
Discarded
Public property
Hunting
Finder acquires title
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13. Week 3
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14. SCREENCAST

15. Name the three most common means of acquiring property.
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16. Assignment: HOW IS OWNERSHIP OF PROPERTY HELD?
Ownership in severalty
Co-ownership
Joint tenancy
Tenancy in common
Tenancy by the entireties
Community property
Limitations on ownership
Chapter 15

17. Delivery Options Storybird.com dvolver.com toondoo.com Glogster.com
Blabberize.com
Piclits.com
Issuu.com
Goanimate.com
Animoto.com
Makebeliefscomix.com
Smilebox.com
Voicethread.com
Popplet.com
bubbl.us

18. Two ways to own property
Severalty
Co-Ownership
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19. Severalty
One person owns everything
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20. 2 Basic rights of Co-Ownership?
4 types of Co-Ownership
Joint tenancy
Tenancy in common
Tenancy by the entireties
Community property
2 Basic rights of Co-Ownership?
Possession
Partition (split)
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21. Joint Tenancy Each Owner owns entire property Right of Survivorship?
One owner dies…other split his interest
Supersedes will
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22. Tenancy in Common No Right off Survivorship After Death?
Property goes to designated heir(s)
Tenants can sell their share without consenting other owners
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23. Tenancy by the Entireties
Married People
Right of Survivorship
Must have co-ownership permission to sell interest
Creditors cannot seize property**
Divorce= Tenancy in common
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24. Community Property Married people Depends on state
Property Acquired during marriage
Gifts must not be intermingled with community property
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25. What are the two basic ways to hold property?
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26. Quiz Review

27. What are the 7 ways you can acquire personal property?
Contract
Gift
Intellectual Labor
Finding
Inheritance
Accession
Occupancy

28. What is constructive delivery?

29. What is the difference between lost property and mislaid property?
Lost: Finder assumes owner doesn’t know where they lost the property
Mislaid: Finder assumes owner knows where they put missing property.

30. What is the difference between finding and occupancy
Occupants can receive title
Property belongs to no one

31. What are the 3 elements of a successful gift?
INTENT, DELIVERY and ACCEPTANCE

32. TYPES OF CO-OWNERSHIP
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33. Chapter 15