law for business and personal use © thomson south-western chapter 15 property and its acquisition...
TRANSCRIPT
![Page 1: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/1.jpg)
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
CHAPTER 15Property and Its Acquisition
15-1 Types of Property
15-2 How Property Is Acquired and Held
![Page 2: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/2.jpg)
Chapter 15Slide 2
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
15-115-1 Types of Property
GOALS Define property Identify the classifications of property
![Page 3: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/3.jpg)
Chapter 15Slide 3
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
What is your definition of property?
![Page 4: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/4.jpg)
Chapter 15Slide 4
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
PROPERTY AND ITS CLASSIFICATION
What is property? Classifications of property
Real property Personal property Copyrights Trademarks and service marks Patents Trade secrets
![Page 5: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/5.jpg)
Chapter 15Slide 5
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FEATURES OF INTELLECTUAL PROPERTY
![Page 6: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/6.jpg)
Chapter 15Slide 6
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
What are the two main classifications of property?
![Page 7: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/7.jpg)
Chapter 15Slide 7
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
15-215-2 How Property Is Acquired and Held
GOALS State the different ways of acquiring
property Differentiate the various ways of
holding ownership to property
![Page 8: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/8.jpg)
Chapter 15Slide 8
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
FOCUS
How have you acquired property?
![Page 9: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/9.jpg)
Chapter 15Slide 9
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
WAYS OF ACQUIRING PROPERTY
By contract By gift By intellectual labor By inheritance By accession By finding By occupancy
![Page 10: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/10.jpg)
Chapter 15Slide 10
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
Name the three most common means of acquiring property.
![Page 11: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/11.jpg)
Chapter 15Slide 11
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
HOW IS OWNERSHIP OF PROPERTY HELD?
Ownership in severalty Co-ownership
Joint tenancy Tenancy in common Tenancy by the entireties Community property
Limitations on ownership
![Page 12: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/12.jpg)
Chapter 15Slide 12
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
TYPES OF CO-OWNERSHIP
![Page 13: Law for Business and Personal Use © Thomson South-Western CHAPTER 15 Property and Its Acquisition 15-1Types of Property 15-2How Property Is Acquired and](https://reader030.vdocuments.net/reader030/viewer/2022033102/56649e6b5503460f94b6916a/html5/thumbnails/13.jpg)
Chapter 15Slide 13
Law for Business and Personal UseLaw for Business and Personal Use© Thomson South-Western
What are the two basic ways to hold property?