Title to abandoned property is acquired by the first person who obtains possession and control of the property.

Question

Quizplus · Accepted Answer

This is known as the common law doctrine of "finders keepers." The person who takes control and possession of the abandoned property is considered the new owner. However, laws regarding abandoned property can vary by state and country. It is important to check local laws and regulations when dealing with abandoned property.

Title to Abandoned Property Is Acquired by the First Person