What happens when you take possession of something?

First, you might take possession of something which has never been possessed before. This can occur when you catch a wild animal; or create a new thing, such as a loaf of bread. Secondly, you might find something which someone else has lost. Thirdly, you might take something from another person without their consent.

How is failure to remove oil field equipment an abandonment of property?

The failure to remove oil field equipment was not technically abandoned, even though it remained unused on the leased premises for four years after the lease expired (Morgan v. Fox, 536 S.W. 2d 644). Similarly, the failure to maintain and repair property will not in itself establish abandonment. However, it is admissible evidence.

What do you call a temporary transfer of possession?

Possession acquired by consent. A temporary transfer of possession is called a bailment. Bailment is often regarded as the separation of ownership and possession. For example, the library continues to own the book while you possess it and will have the right to possess it again when your right comes to an end.

When does a landlord take possession of an abandoned property?

If the property is not claimed by anyone within a certain number of days after the notice to the former tenant, the landlord may take possession. Abandoned property law allows the landlord to sell the abandoned property.

What to do if a tenant leaves possessions or equipment?

In the context of property transactions, this often arises where a tenant has left goods at the demised premises after the end of the lease term. An involuntary bailee does not owe the same duties as a bailee.

If the property is not claimed by anyone within a certain number of days after the notice to the former tenant, the landlord may take possession. Abandoned property law allows the landlord to sell the abandoned property.

How long can a landlord keep a property after a writ of possession is executed?

If a tenant has not removed his property at the time the writ of possession is executed, the landlord can immediately remove and store the property for 7 days at the tenant’s expense.

When does a landlord have to take a property out of storage?

Property that remains at a dwelling 48 hours after service of a writ of possession is deemed abandoned. If the property is unclaimed and valued at less than $750, the landlord must place it in storage.