A bailment is the delivery of personal property by the owner of the property rights to another individual who accepts it under conditions to return it later to the owner or to a designated third party.

Bailment

A legal relationship in which physical possession of personal property is transferred from one person to another with the understanding that the property will be returned.

Personal Property

Movable items owned by an individual as opposed to real estate or land.

Property Rights

Legal rights to possess, use, and dispose of assets including real estate, personal property, and intellectual property.