Wager Mage
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Even though cash is not marked with the owner's identity—like a check or savings bond—it's a piece of property that originally belonged to someone other than the finder. Cash you find is not legally yours—it's still the owner's money.
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Read More »Most state and local laws require the finder of lost property to make reasonable efforts to find the owner. Whether we can keep money we've found and what we can do with it are ethical as well as legal questions. Even though cash is not marked with the owner's identity—like a check or savings bond—it's a piece of property that originally belonged to someone other than the finder. Cash you find is not legally yours—it's still the owner's money. Your state or local law will likely have something to say regarding what you need to do if you find property or cash.
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Read More »In most states, the penalties for theft of lost property will be based on its value. The larger the amount is, the stiffer the penalty will be. For instance, if you find more than $950 in California and keep the money "without first making reasonable and just efforts to find the owner," you could be charged with felony theft. For amounts of $950 or less, the penalty in California is a misdemeanor. (Cal. Penal Code §§ 485, 487.) Misdemeanor or felony theft. Every state theft laws use different dollar amounts to divide misdemeanor from felony crimes. Most states penalize misdemeanor theft with possible jail time of up to one year, plus fines. Felony theft penalties can mean prison time of a year or more. Check your state's theft laws for more information. Receiving stolen property. If you know the cash was stolen and you keep it, you could be looking at penalties for receiving stolen property. (Cal. Penal Code § 496.) Depending on the state, this offense might be punished the same as, or more harshly than, theft or larceny. Especially if you find a large amount of money, it probably is best to contact the police or a criminal defense attorney who can verify local laws regarding lost and found cash and advise you on how to proceed.
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