Acquiring Property Through Accession - Explained
Methods of Acquiring Ownership of Property
Written by J. Mance Gordon
Updated at April 19th, 2024
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How do individuals acquire an ownership interest in property?
Accession - Accession refers to additions to existing property to modify it in a way that results in new property. Accession is very similar to creation of something new. That is, if you add something to raw materials, you own the product that you make from the raw material.
- Example: I build a tree house with lumber that is not mine. I used property that was not mine, so I am liable for the value of the lumber. But, I own the product of my labor (the tree house). Of course, in my situation, the person may be able to file a legal claim against you if you do not pay for the lumber.
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