New York Consolidated Laws, Personal Property Law - PEP § 251. Definitions

1. The term “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 section three hundred twenty-three of the town law and (e) vehicles governed by the vehicle and traffic law.

2. The term “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.

3. The term “lost property” as used in this article includes lost or mislaid property.  Abandoned property, waifs and treasure trove, and other property which is found, shall be presumed to be lost property and such presumption shall be conclusive unless it is established in an action or proceeding commenced within six months after the date of the finding that the property is not lost property.

4. The term “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.

5. The term “finder” as used in this article means the person who first takes possession of lost property.

6. “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.  “Transportation company” as used in this article means the person carrying on a business of operating a transportation facility.  A taxi driver is a “transportation company” with respect to a taxicab which he owns and operates as owner.


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