Question

Andrew and Rob are sibling. Their father recently passed away leaving a very large home and property to his children. Andrew and Rob spend three years cleaning out the house and uncovering property, cash, jewelry, and other things hidden all over the house and grounds. It was difficult to find everything, but once they completed the clean out, they sold the house to Richard and Joan. Richard and Joan hired workers to make repairs and renovations. While renovating, a construction worker found a box with $100,000 cash inside. To whom does the $100,000 cash belong?

Note: Your answer must include all relevant legal concepts and use vocabulary from learning material (Business law 1). Do not just give me your opinion. Your answer must be base in a legal analysis. please reply ASAP

Answer 1

The cash belongs to Rolan and Jocelyn because they are the new owners of the house. In common law, Ownership refers to the legal right of an individual, group, corporation or government to the possession of a thing. Thing could be material like land, property, car etc or immaterial like copyright, patent etc.

In this case, When David and Alexis sold the house to Rolan and Jocelyn then they immediately transfer the ownership of the house to them.

An owner will have the right of possession, right to its use, right of way, right to transfer it and the right to earn rent from the property. so, Rolan and Jocelyn as owner of the house has the right of possession of any goods or cash found in the house.

Rolan and Jocelyn have the legal rights to house and cash found inside the house.