Q: Is "under claim of title" the same as "acquisition by find" the law in New York?
Is "under claim of title" the same as "acquisition by find" the law in New York? As in the finder acquires an interest superior to everyone except the true owner, for real and intangible property?
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A:
In New York, "under claim of title" and "acquisition by find" are distinct legal concepts, though they share similarities. "Under claim of title" typically refers to adverse possession, where someone occupies real property openly and continuously under a claim of ownership, potentially acquiring title after a statutory period. This generally applies to real property rather than personal or intangible property.
On the other hand, "acquisition by find" refers to personal property, where a finder may acquire rights superior to everyone except the true owner. The finder does not obtain full ownership but has a lawful claim until the rightful owner reclaims the property.
For real property, New York law emphasizes adverse possession, not acquisition by find. For personal or intangible property, the concept of finder's rights applies, with limitations depending on the nature of the property and the circumstances of the find. Understanding which concept applies depends on the type of property and the specific legal situation.
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