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Essay / Case Study on Property as a Bundle of Assets - 775
Gifts: Personal assets are also classified by gift. Without payment in return, a donor makes a gift to a donee. Then, the donee can possess this title of donation if he brings together three elements: the intention of donation and the delivery, accepted by the donee. - Types of donations: * Inter vivos donations are made inter vivos (p. 609) . mortis are made in anticipation of imminent death (p.609).4. Uniform Gifts to Minors Act: Established methods for adults to make monetary gifts to a minor.5. Will or inheritance: With a valid will, the person named in it will own the grantor's assets after his or her death. Without a valid will, a deceased person's property will pass to the heirs as provided by state probate law.6. Confusion: When property belongs to different parties that is accidentally mixed up and cannot be separated. Thus, each party will share the entire quantity of these goods.7. Membership: The owner owns the increasing value of the original property after the original property has been added to or improved by natural or manufactured means. B. Different rights of people who find abandoned, lost or misplaced objects