The first in time rule, also known as the rule of capture, is a property law theory that means the first appropriator, or user, of a property is the owner and thus any subsequent owner is subject to the original owner. The full name of this theory is “First in Time, First in Right.” The “first in time” theory is the default rule to recording property transfers unless there are state statutes with different requirements.
In the case of lost property, the first person to find an item (property) has ownership rights unless the true owner, that is the person who lost the item, claims their missing property. For example, in Clark v Maloney, Clark found logs floating in the Delaware Bay, Clark removed these logs from the bay and tied them together, intending to pick them up later. However, Maloney claimed to have found the logs floating in the water and took them. Clark had superior title to the logs over other finders because he found them first and had a property interest in the logs by removing them from the water and tying them together. When there is a question of ownership, this rule typically requires that the initial owner also claims or makes use of the property or its resource in some way.
[Last updated in July of 2024 by the Wex Definitions Team]