The fundamental principles regarding ownership of abandoned property are succinctly set forth in 1 Am. Jur. 2nd Abandoned, Lost, and Unclaimed Property § 24 (2007).
Property which is abandoned becomes subject to appropriation by the first taker or finder who reduces it to possession. Such person thereupon acquires absolute ownership in the property abandoned, as against both the former owner and any person upon whose land it happens to have been left.
(Citations omitted.) In other words,
[p]ersonal property, upon being abandoned, ceases to be the property of any person, unless and until it is reduced to possession with the intent to acquire title to, or ownership of, it. Such property may, accordingly, be appropriated by anyone, if it has not been reclaimed by the former owner, and ownership of it vests by operation of law, in the person first lawfully appropriating it and reducing it to possession with the intention to become its owner, provided such taking is fair.
1 C.J.S. Abandonment § 12 (1993). Thus, ownership of abandoned property vests in the possessor by operation of law and a court need not resort to its injunctive or equitable powers in order to recognize that ownership. Although Kelley strongly contests this point, he offers no legal basis for his contrary position beyond the definitions of "equitable remedy" and "injunction" contained in Black's Law Dictionary. Those general definitions are simply insufficient to contravene established law regarding abandoned property.
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