Question

Dan wants to give Eve a pearl necklace that Dan has in his safe deposit box at First National Bank. The bank is closed for a holiday. Dan gives Eve a key to the box and tells her to go to the bank after the holiday and take the necklace. Eve does this. On her way out of the bank, Eve inadvertently drops the necklace as she exits the building. Jeff, a bank customer, finds the necklace and takes it home. The next day Dan dies. Even discovers that Jeff found the necklace by watching bank surveillance videos. Dan’s heirs, Eve, and Jeff all lay claim to the necklace.

ISSUE: Which of these three parties are entitled to ownership of the necklace? Why?

Answer 1

In this case as Dan is dead the property by default gets transferred to the heirs of the individual. Eve has no right to the property as because Dan did not had a will for the same and There is no written document that states that he is transferring the necklace to Eve. Again, Jeff is caught of collecting or picking up the necklace and anyways he cljas no claim of such property as well instead he can even be charged of possessing the necklace. As Dan died without a Will, the property will be transferred to his heirs.