Money Hidden by a Decedent in the Decedent’s Home Is Mislaid Property That Belongs to the Decedent’s Estate and Not to the Subsequent Purchasers of the Home. 

Under Arizona law, property is “mislaid” if the owner intentionally places it in a certain place and later forgets about it.  A finder of mislaid property must turn the property over to the premises owner, who has the duty to safeguard the property for the true owner.  Absent evidence of abandonment, valuables hidden by a decedent in the decedent’s home are mislaid property belonging to the decedent’s estate, not subsequent purchasers of the home where the property was hidden.  Grande v. Jennings, 1 CA-CV 11-0148, 5/31/12.

A Claim Accrues Under an Installment Contract with an Optional Acceleration Clause When the Creditor Takes an Affirmative Action to Make Clear to the Debtor That It Has Exercised the Acceleration Option. 

 
When a creditor has a contractual right to accelerate a debt without notice, it must take “some affirmative act to make clear to the debtor it has accelerated the obligation.”  A variety of actions, including repossession of property, can be sufficient to demonstrate that the creditor has exercised its option to accelerate the payments.  An internal write off is not, however, such an affirmative act but rather merely an internal accounting procedure.  Baseline Financial Services v. Madison, 1 CA-CV 11-0557, 6/5/12.