Abandoned Property

Abandoned property is defined as personal property which has been
intentionally left or bequeathed by the owner. As a result, the finder
can assume all the rights of the said possessions.

According to common law regulations, an individual who discovers the
abandoned property can claim it by taking several measures that show
that he is now the new owner of the possession/s. for example, he can
claim safe deposit boxes by bringing them to his home, or by attaching a
sign that says that it is now under his ownership.

In terms of intellectual property, when it is abandoned it means that
the owner relinquishes his rights, and permits others to utilize his
invention or innovation with no qualms whatsoever.

Treasure Trove

A treasure trove is defined as an owner's collection of cash, whether in
coins or in bills. True to its name, it can provide you with free money,
as long as you know the following regulations related to it.

A treasure trove is usually concealed for a period of time, and that its
owner might long be dead. In this case, you can claim money inside the
trove, unless it is reclaimed by the original owner. This is oftentimes
impossible, as the usual owners of such treasure troves are most of the
time deceased.

Real Property

As for real property, such as free houses and boats, they are not
considered abandoned property. For home and land ownership, however,
they can be owned through adverse possession, in which the person who
possesses the estate can acquire the land title, as long as the
requirements of common law are met

To wit, you can claim relatives' property, if your possession of it is
continuous, exclusive and actual.

For boats, aircraft and vehicles, such claim is not possible, since
these abandoned properties usually become possessions of the state.

If there are abandoned possessions within your jurisdiction, it is
important that you know the laws that govern such property, so you can
make your claim through the right and legal way.

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