Terms Used In New York Laws > Personal Property > Article 7-B - Lost and Found Property

• Appraisal: A determination of property value.
• Conviction: A judgement of guilt against a criminal defendant.
• Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
• Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
• finder: as used in this article means the person who first takes possession of lost property. See N.Y. Personal Property Law 251
• instrument: as used in this article means a check, draft, promissory note, bond, bill of lading, warehouse receipt, stock certificate or other paper or document, other than those payable, drawn or issued to bearer or to cash and other than money, evidencing, representing or embodying a chose in action or a right with respect to property or a share, participation or other interest in property or in an enterprise. See N.Y. Personal Property Law 251
• Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
• lost property: as used in this article includes lost or mislaid property. See N.Y. Personal Property Law 251
• owner: as used in this article means any person entitled to possession of the lost property as against the finder and against any other person who has made a claim. See N.Y. Personal Property Law 251
• Personal property: All property that is not real property.
• property: as used in this article means money, instruments payable, drawn or issued to bearer or to cash, goods, chattels and tangible personal property other than (a) "instruments" as defined in subdivision two of this section, (b) animals, (c) wrecks governed by the provisions of the navigation law, (d) logs and other property governed by § 323 of the town law and (e) vehicles governed by the vehicle and traffic law. See N.Y. Personal Property Law 251
• Statute: A law passed by a legislature.
• Transportation company: as used in this article means the person carrying on a business of operating a transportation facility. See N.Y. Personal Property Law 251
• Transportation facility: as used in this article means a railroad car or coach, Pullman car, street surface railroad car, subway car, motor bus, motor coach, taxicab, aircraft or steamship, and any other vehicle or conveyance used for carriage of persons whether or not such use is in the course of a business of transporting persons. See N.Y. Personal Property Law 251