The fact that an owner has involuntarily parted with the property and

that he or she is ignorant of its location sufficiently establishes that the

property is lost. Mislaid property is property that an owner intentionally
places somewhere so that it can eventually be found again, but he or
she subsequently forgets where it was placed. The right to possess the
property rests in the issue of whether the property is to be considered
lost or mislaid. This issue must be determined upon examination of the
particular facts and circumstances of any given case.

Abandoned property is property to which the owner has purposefully

relinquished all rights as an owner thereto. Since such property is
ownerless, it can be owned by the first person who takes it with the
intent to claim it as his or her property.

The place where the property is discovered is an important factor in

determining whether it is lost or mislaid.

When property is in someone's possession, it cannot be found within

the meaning of lost property. An article in the possession and protection
of the owner of the place where it is found is not legally considered lost.
Similarly, an owner of land is considered to have possession of all
articles on the land even though he or she may be unaware of their
presence. If the finder of lost property is an employee of the owner of
the land, the owner's right to custody of the property is superior to that
of the employee.

Property found in a public or semipublic place—where the public is

ordinarily invited and expected to be—may be considered lost, since the
owner or manager of the location does not represent its owner.

Treasure trove is any gold or silver in coin, plate, or bullion hidden in the
earth or other private place by an unknown owner for a long time. The
property is not treasure trove unless the identity of the owner is
unascertainable. Ordinarily, the treasure must be in the form of coin

or bullion, but it may also include paper currency—particularly when

such currency is discovered with both these precious metals.

An individual who finds lost property does not acquire absolute

ownership of the property. In order to obtain title to, or rights in, the lost
property, the finder must intentionally take possession and control over
it.

The individual who acquires possession of a lost or mislaid article has

superior rights to the item over anyone except the true owner. This
person is only the apparent owner. The finder's title to the property may
be forfeited upon discovery of the true owner, whose title in it is
unaffected by the fact that the article has been lost. A finder's title is
contingent upon the potential discovery of the true owner. He or she
may not, therefore, transfer title to another individual.

If the true owner of lost property dies before his or her identity is
discovered, the title and right to the lost article passes to the executor or
administrator of the owner's estate for distribution to his or her heirs
pursuant to the terms of his or her will or the laws of Descent and
Distribution.

As between the finder of treasure trove and its true owner, the true
owner prevails. It has been held, however, that the finder of treasure
trove has greater rights to it than the heirs of the individual who
concealed it.

The true owner of lost property is responsible for paying all reasonable
expenses incurred by a finder in the discovery and preservation of lost
property. The finder may also be entitled to a small compensation for
his or her time and effort; however, the finding party does not acquire a
lien against the property. The finder cannot receive reimbursement for
his or her expenses and time with use of the property, nor is the
individual entitled to a reward for finding it unless one has been offered.

Some state statutes provide that a finder of lost goods is entitled to

recover expenses that were necessary to preserve the property and to a
reward for holding it. These statutes are consistent with statutes
providing that the finder must return the property to its true owner and
that a finder who is aware of the identity of the true owner is guilty of
Larceny if he or she keeps the goods. Such statutes are enacted in
order to aid the finding of lost property.

An individual who finds and takes possession of lost property ordinarily

has the right to possess it over everyone but the true owner. Some
statutes provide that if the true owner neglects to appear and claim the
property within a certain time period after the finding of the article has
been published in a local newspaper, the finder is entitled to retain part
of the property or part of its value while the remaining portion passes to
the state, or one of its departments or agencies.

The finder of treasure trove, under early Common Law, took title to it
over everyone except the true owner. This doctrine was changed in
England by a statute that granted title to the crown, subject to the claims
of the true owner. In the United States, the law regarding treasure trove
has largely been combined into the law governing lost property. Some
cases still hold, however, that the old treasure trove law is not merged
into the statutory law relating to lost property. The common law of early
England has also been held to apply in the absence of a statute
governing treasure trove.

In either instance, the title to treasure trove belongs to the finder over all
other people except the true owner, unless otherwise provided by
statute. If there is a conflict as to ownership between the true owner and
the state, the owner is entitled to treasure trove.

The discovery of personal property that has been unintentionally

removed from its owner's possession through his or her neglect or
inadvertence.

The fact that an owner has involuntarily parted with the property
and that he or she is ignorant of its location sufficiently establishes
that the property is lost. Mislaid property is property that an owner
intentionally places somewhere so that it can eventually be found
again, but he or she subsequently forgets where it was placed. The
right to possess the property rests in the issue of whether the
property is to be considered lost or mislaid. This issue must be
determined upon examination of the particular facts and
circumstances of any given case.

Abandoned property is property to which the owner has

purposefully relinquished all rights as an owner thereto. Since such
property is ownerless, it can be owned by the first person who takes
it with the intent to claim it as his or her property.

The place where the property is discovered is an important factor in

determining whether it is lost or mislaid.

When property is in someone's possession, it cannot be found

within the meaning of lost property. An article in the possession and
protection of the owner of the place where it is found is not legally
considered lost. Similarly, an owner of land is considered to have
possession of all articles on the land even though he or she may be
unaware of their presence. If the finder of lost property is an
employee of the owner of the land, the owner's right to custody of
the property is superior to that of the employee.

Property found in a public or semipublic place — where the public is

ordinarily invited and expected to be — may be considered lost,
since the owner or manager of the location does not represent its
owner.
Treasure trove is any gold or silver in coin, plate, or bullion hidden
in the earth or other private place by an unknown owner for a long
time. The property is not treasure trove unless the identity of the
owner is unascertainable. Ordinarily, the treasure must be in the
form of coin or bullion, but it may also include paper currency —
particularly when such currency is discovered with both these
precious metals.

An individual who finds lost property does not acquire absolute

ownership of the property. In order to obtain title to, or rights in,
the lost property, the finder must intentionally take possession and
control over it.

The individual who acquires possession of a lost or mislaid article

has superior rights to the item over anyone except the true owner.
This person is only the apparent owner. The finder's title to the
property may be forfeited upon discovery of the true owner, whose
title in it is unaffected by the fact that the article has been lost. A
finder's title is contingent upon the potential discovery of the true
owner. He or she may not, therefore, transfer title to another
individual.

If the true owner of lost property dies before his or her identity is
discovered, the title and right to the lost article passes to the
executor or administrator of the owner's estate for distribution to
his or her heirs pursuant to the terms of his or her will or the laws
of descent and distribution.

As between the finder of treasure trove and its true owner, the true
owner prevails. It has been held, however, that the finder of
treasure trove has greater rights to it than the heirs of the
individual who concealed it.

The true owner of lost property is responsible for paying all

reasonable expenses incurred by a finder in the discovery and
preservation of lost property. The finder may also be entitled to a
small compensation for his or her time and effort; however, the
finding party does not acquire a lien against the property. The
finder cannot receive reimbursement for his or her expenses and
time with use of the property, nor is the individual entitled to a
reward for finding it unless one has been offered.
Some state statutes provide that a finder of lost goods is entitled to
recover expenses that were necessary to preserve the property and
to a reward for holding it. These statutes are consistent with
statutes providing that the finder must return the property to its
true owner and that a finder who is aware of the identity of the true
owner is guilty of larceny if he or she keeps the goods. Such
statutes are enacted in order to aid the finding of lost property.

An individual who finds and takes possession of lost property

ordinarily has the right to possess it over everyone but the true
owner. Some statutes provide that if the true owner neglects to
appear and claim the property within a certain time period after the
finding of the article has been published in a local newspaper, the
finder is entitled to retain part of the property or part of its value
while the remaining portion passes to the state, or one of its
departments or agencies.

The finder of treasure trove, under early common law, took title to
it over everyone except the true owner. This doctrine was changed
in England by a statute that granted title to the crown, subject to
the claims of the true owner. In the United States, the law
regarding treasure trove has largely been combined into the law
governing lost property. Some cases still hold, however, that the old
treasure trove law is not merged into the statutory law relating to
lost property. The common law of early England has also been held
to apply in the absence of a statute governing treasure trove.

In either instance, the title to treasure trove belongs to the finder

over all other people except the true owner, unless otherwise
provided by statute. If there is a conflict as to ownership between
the true owner and the state, the owner is entitled to treasure
trove.