Ways in which a person can lose ownership in relation to law of property

Loss of ownership

• By a voluntary act e.g. transfer
• Retransfer
• Operation of law, e.g. death or bankruptcy
• Displacement by new owner (adverse possession).
• Destruction of tangible assets.
• Lapse of time or discharge for tangible assets.
• Abandonment.
• Extinction or forfeiture

Chose in action

• These are intangible rights which can only be enforced by court action.
• They are not capable of physical possession e.g. debts, patents etc.

Chose in possession

• These are tangible things or subject matter, capable of physical possession e.g.
• land, motor vehicles etc.