Movable or transferable property

What is a movable property? Can immovable property be transferred? Can a transferable property be transferable? Ownership of movable vs immovable property. The ownership and transfer of immovable property is regulated by the Deeds Registries Act and the Sectional Titles Act, while movable property will be dealt with in terms of our common law.

Sale agreements can include a list of fixtures which may be included or excluded in the agreement of sale.

This list will provide clarity on who will be the owner of each item of property after transfer has taken place. Possession is a property interest under which an individual is able to exercise power over something to the exclusion of all others. Possession requires a degree of actual control over the object, coupled with the intent to possess and exclude others. The law recognizes two basic types of possession: actual and constructive. Actual possession exists when an individual knowingly has direct physical control over an object at a given time.

For example, an individual wearing a particular piece of valuable jewelry has actual possession of it. See full list on legal-dictionary. Animals ferae naturae, or wild animals, are those that cannot be completely domesticated.

A degree of force or skill is necessary to maintain control over them. Gaining possession is a means of obtaining title to, or ownership of, wild animals. Generally an owner of land has the right to capture or kill a wild animal on her property and upon doing so, the animal is regarded as belonging to that individual because she owns the soil.

Personal property is considered to be lost if the owner has involuntarily parted with it and is ignorant of its location. Mislaid property is that which an owner intentionally places somewhere with the idea that he will eventually be able to find it again but subsequently forgets where it has been placed. Abandoned property is that to which the owner has intentionally relinquished all rights. Lost or mislaid property continues to be owned by the person who lost or mislaid it. When one finds lost goods, the finder is entitled to possession against everyone with the exception of the true owner.

The owner of the place where an article is mislaid has a right to the article against everyone but the true owner. The finder of misplaced goods has no right to their possession. Confusion and Accession govern the acquisition of, or loss of title to, personal property by virtue of its being blended with, altered by, improved by, or commingled with the property of others. In confusion, the personal property of several different owners is commingled so that it cannot be separated and returned to its rightful owners, but the property retains its original characteristics.

Any fungible (interchangeable) goods can be the subject of confusion. In accession, the personal property of one owner is physically integrated with the property of another so that it becomes a constituent part of it, losing any separate identity. Accession can make the personal property of one owner become a substantially more valuable chattel as a result of the work of another person. This transformation occurs when the personal property becomes an entirely new chattel, such as when grapes are made into wine or timber is made into furniture.

Subject to the doctrine of accession, personal prop. A Bailment is the rightful, temporary possession of goods by an individual other than the true owner.

Ordinarily a bailment is effected for a designated purpose upon which the parties have agreed. The word bailment is derived from the French term bailler, to deliver. It is ordinarily regarded as a contractual relationship since the bailor and bailee—either expressly or implicitly—bind themselves to act according to specific terms.

The bailee receives only control or possession of the property, and the bailor retains the ownership interests therein. While a bailment exists, the bailee has an interest in the property that is superior to all others, including the bailor, unless she violates some term of the agreement. When the purpose for which the property has been delivered has been accomplishe the property will be returned to the bailor or ot. A gift is a voluntary transfer of personalty from one individual to another without compensation or consideration or the exchange of something of value. There are two main categories of gifts: inter vivos gifts, a voluntary, unconditional transfer of property between two living persons without consideration, and causa mortis, one that is made by a donor in anticipation of imminent death.

The three requirements of a valid gift are delivery, donative intent, and acceptance. A basic common-law principle is that an individual cannot pass a better title than she has, and a buyer can acquire no better title than that of the seller. A thief does not have title in stolen goods, so a person who purchases from the thief does not acquire title. At common law, such an Estoppel did not apply when an owner brought an item for services or repairs to a dealer in that type of goods and the dealer wrongfully sold the chattel. The bona fide purchaser, however, is now protected under such circumstances by the Uniform Commercial Code (UCC).

A buyer who induces a sale thro. Movable and immovable, in later Roman and modern civil-law systems, the basic division of things subject to ownership. The term “movables” is also sometimes used. It also encompasses ownership of intangible goods that are not fixed to a location, including services, intellectual property, and negotiable instruments such as banknotes and bills of exchange. Movables include all things , tangible or intangible , that are not immovable.

A state has absolute authority over personal or movable property within its borders. The words “moveable property” is intended to include corporeal property of every description , except land and things attached to the earth or permanently fastened to anything , which is attached to the earth. But things attached to the land may become moveable property by severance from the earth. A property is a bundle of rights.

When a property is transferre all the rights along with the property are also transferred. It includes movable , immovable, tangible and intangible assets. A movable property can easily be moved from one place to another, without changing its shape, size, quantity or quality.

Common examples are vehicles, books, utensils, timber,. He should be entitled to the transferable property , or authorized to dispose of transferable property which is not his own. The right may be either absolute or conditional, and the property may be movable or immovable, present or future. Such a transfer can be made orally unless a transfer in writing is specifically required under any law. Timber trees and standing timber.

Benefits arising out of land. Property : (a) Immovable Property : i. In some cases where transfer of ownership of a property along with some money against some ownership of another property happen, it also comes under definition of exchange. Things attached to Earth. Thus the conveyance of the property must be from one living person to another living person.

However transferee need not be a competent person like transferor. A transferee may be a minor, insane or child in mother’s womb. In French law the contract alone suffices to transfer the property. In German law, as in the case of sale, there must be transfer of possession or an agreement that the donor retain possession on behalf of the donee if the thing is movable or an entry in the Grundbuch if the thing is immovable.

Transfer of property is an act of conveying property from one person to another, in present or future.