Abandoned Property - Law Dictionary Search Results
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abandoned property see property ...
Abandoned property
Abandoned property, Property that the owner voluntarily surrenders, relinquishes, or disclaims, Black's Law Dictionary, 7th Edn., p. 1283...
property
property pl: -ties [Anglo-French propreté proprieté, from Latin proprietat- proprietas, from proprius own, particular] 1 : something (as an interest, money, or land) that is owned or possessed see also asset, estate, interest, possession abandoned property : property to which the owner has relinquished all rights NOTE: When property is abandoned, the owner gives up the reasonable expectation of privacy concerning it. The finder of abandoned property is entitled to keep it, and a police officer may take possession of abandoned property as evidence without violating the Fourth Amendment to the U.S. Constitution. after-acquired property 1 : property (as proceeds) that a debtor acquires after the commencement of a bankruptcy case and that is usually considered part of the bankruptcy estate 2 : property acquired after the perfection of a lien or security interest ;esp : such property acquired after the creation of a lien or security interest that is subject to the lien or...
abandonment
abandonment 1 : the act of abandoning property or a right: as a : relinquishment by an inventor of the right to enforce a patent see also dedication b : an author's relinquishment to the public domain of his or her copyrighted work c : relinquishment of a trademark established by a failure to use the trademark and an intention never to resume use d : the act of an insured in surrendering all rights to damaged or lost property to an insurer as a total loss compare salvage e : relinquishment by a trustee in bankruptcy of interest in property in the bankruptcy estate often for a nominal sum 2 : the act of abandoning a person: as a : failure to have contact with a spouse that is intended to create a permanent separation b : failure to communicate with or provide financial support for one's child over a period of time that shows a purpose to forgo parental duties and rights 3 : the act of abandoning a contract 4 a : the act of abandoning a course of action (as a crime) b : th...
Common stock or common hotchpot
Common stock or common hotchpot, the doctrine of throwing into common stock inevitably postulates that the owner of a separate property is a coparcener who has an interest in the coparcenary property and desires to blend his separate property with the coparcenary property. The existence of a coparcenary is absolutely necessary before a coparcener can throw into the common stock his self-acquired properties. The separate property of a member of a joint Hindu family may be impressed with the character of joint family property if it is voluntarily thrown by him into the common stock with the intention of abandoning his separate claim therein. The separate property of a Hindu ceases to be a separate property and acquires the characteristic of a joint family or ancestral property not by any physical mixing with his joint family or his ancestral property but by his own volition and intention by his waiving and surrendering his separate rights in it as separate property. The act by which the ...
occupancy
occupancy pl: -cies 1 : the fact or condition of holding, possessing, or residing in or on something [ of the premises] 2 : the act or fact of taking or having possession (as of abandoned property) to acquire ownership 3 : the fact or condition of being occupied [ by more than 400 persons is unlawful] 4 : the use to which a property is put [designed for industrial ] ...
Abandonee
Abandonee, one to whom anything is relinquished.The expression 'abandoned property' or to use the more familiar term 'bona vacantia' comprises properties of two different kinds, those which come in by escheat and those over which no one has a claim, Bombay Dyeing and Mfg. Co. Ltd. v. State of Bombay, AIR 1958 SC 328 (339): 1958 SCR 1122. [Bombay Labour Welfare Fund Act (40 of 1953) s. 3(1) & 2(b)]...
Surrender of the demised estate
Surrender of the demised estate, means yielding up of the estate to the landlord, so that the leasehold interest becomes extinct by mutual agreement between the parties or by operation of law. It does not involve alienation of an estate. Under a surrender, the landlord resumes possession of the property without opposition from the tenant. The term 'surrender' is well-known to law and generally distinguished from abandonment which is another term that does not involve transfer, Mubarak Husain v. Custodian-General of Evacuee Property, New Delhi, AIR 1957 Punj 197....
Abandonment
Abandonment [fr. Abandonner, Fr.], the relinquish-ment of an interest or claim.Means the relinquishing of a right or interest with the intention of never again claiming it. In the context of contracts of the sale of land, courts sometimes use the term abandonment as if it were synonymous with rescission, but the two should be distinguished. An abandonment is merely the acceptance by one party of the situation that a non-performing party has caused. But rescission due to a material breach by the other party is termination or discharge of the contract for all purposes., Black Law Dictionary, 7th Edn., p. 1.The relinquishment by an assured person to the assurers of his right to what saved out of a wreck, when the thing insured has, by some of the usual perils of the sea, become practically valueless. Upon abandonment, the assured is entitled to call upon the assurers to pay the full amount of the insurance, as in the case of a total loss. The loss is in such case called a 'constructive to...
Relinquishment
Relinquishment, a relinquishment takes place when the owner withdraws himself from the property and abandons his rights thereto, CIT v. Rasiklal Maneklal, AIR 1989 SC 1333: (1989) 2 SCC 454: (1989) 2 SCR 179. (Income Tax Act, 1961, s. 45)Relinquishment, forsaking, or giving up.The abandonment of a right or thing, Black's Law Dictionary, 7th Edn., p. 1294.Means a release of a claim or portion of it. The essential features of a transaction of relinquishment can be clearly specified. In a transaction of relinquishment the property in which interest is relinquished continues to exist, the property continues to be accrued by some person or persons even after the transaction of relinquishment and the interest of the person even after relinquishing his interest in the property is either given up or abandoned or surrendered. Relinquishment also presupposes that the property in which the interest is relinquished continues to be in existence, C.I.T. v. Rasiklal, (1974) 95 ITR 656 (663)....
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