If you’re walking down the street and see a nice crisp twenty dollar bill, it may feel like your lucky day. But if you consider the other side of it, someone else just had a very unlucky day, and while you’re up twenty dollars, they are now out that same amount. That’s why it is illegal to keep money you found on the ground in California, unless you first attempt to find the owner.
What to do if You Find Money on the Ground
California law says that if you find lost property (not limited to just cash), you must first make “reasonable and just efforts to find the owner and to restore the property to him” before you can keep the money for yourself. If you fail to do so, you have technically committed theft. In fact, you can even get in trouble if you give the money to someone else you know it doesn’t belong to, so even if you give it to a homeless person, for example, you’re still breaking the law.
As for what is considered “reasonable and just efforts to find the owner,” criminal attorney Peter Liss says this can vary from person to person and from one situation to another. What you should do if you happen to find a large sum of money is not the same as what you are expected to do after finding a few dollars.
Obviously, if you just mumble under your breath when you know no one’s around, “did anyone lose this money,” you probably didn’t meet the requirement no matter how small the sum. But if you find a dollar at a trolley station, you probably only need to ask the people in your immediate vicinity if they lost money. On the other hand, if you find $13,000 in a lunch bag outside of a bank, you are legally expected to make a little more effort to find the owner, who most likely really needs the money.
Some of the most frequently used ways to return larger amounts of money are to tell the manager of an establishment that you found money and then leave your name and number with her, to put a classified ad on Craigslist or in the newspaper, to put the money in the lost and found of the place where you discovered it, or to bring the money to the nearest police station.
The good news is that if the rightful owner claims the money, you’ve done a good deed and made someone else’s day much brighter. And if they don’t claim it, you have the right to keep the money you discovered on the ground. Many establishment’s lost and founds allow the person who brings property in to keep it after a set time. If you bring it to a police department and fill out a report and no one claims the money, it’s yours to keep after 120 days.
Will I Really be Charged for Keeping Lost Money?
The reality is that you won’t normally be charged with this crime, and the lower the value of the money or property, the less likely it is that you’ll face legal trouble. If you see a broken ATM shooting out money or if an armored truck crashes, leaving money flying around on the freeway though, you can be charged for taking and keeping the money if police track you down. In fact, these situations are the most frequent incidences where people are charged with this crime as there is often video footage, and in many cases, your identifiable information, like your license plate, can be used to track you down.
One other circ*mstance which will likely result in charges is you find a wallet that has identification in it and make no effort to contact the owner. If you use the credit cards found in the wallet, then the crime is also identity theft.
Penalties for Keeping Found Cash or Property
Keeping lost money or property is considered theft, which means you can face an infraction for a notably small amount of money, petty theft for values up to $950 and grand theft when it is worth more than $950. While petty theft is always a misdemeanor offense, grand theft can be charged as a felony or a misdemeanor. When charged as a felony, grand theft can carry a sentence of up to three years in prison. This is why anyone accused of grand theft should call a theft lawyer who can help negotiate a plea bargain to ensure the crime is charged as a misdemeanor. Of course, if you believe you made a reasonable and fair effort to find the owner of lost money, this could also serve as a defense.
If you have been accused of theft related to keeping cash you found on the ground, please call theft defense attorney Peter M. Liss at (760) 643-4050 to schedule a free initial consultation.
FAQs
Can you keep money you find in Florida? According to Florida law, if you find and keep what is considered "lost or abandoned property," you could face criminal charges, fines and jail time.
Is finding money on the ground theft? ›
The person from whom you take the money does not need to be nearby for it to be considered theft. They could have been gone for days, but the money is still theirs in the eyes of the law. So taking any money you find on the ground or at a checkout lane may be construed as theft.
What do you do when you find money on the ground? ›
If you find money, especially a significant amount, you should check your local laws or contact an attorney or the police. Many communities have local laws or ordinances governing what someone must do if they find cash and don't know who it belongs to. In some instances, state law will apply.
Is it okay to pick up money off the ground? ›
Martin says it's always best wise to err on the side of caution when finding notes and hand them in. This is especially true in places that are monitored by CCTV, such as shops, restaurants and bars, and where the owner could be identified.
Should I keep money if I find it? ›
Typically, the laws will honor finder's keepers. If after turning in cash or lost property to the police and the true owner cannot be found, after a period of time, the finder may become the keeper. In some places however, depending on the value of the item, there may be certain restrictions.
What to do if you find $20 on the ground? ›
If you find an item of value in a public space, turn it over to the police. They will work to track down its rightful owner.
What does it mean when you find money on the floor? ›
The Minds Journal
Know in this article about the meaning of finding money on the ground. In many spiritual traditions, finding money on your path is often seen as a symbol of good luck, abundance, and a positive affirmation from the higher realm.
Do you have to pay taxes on money you found? ›
“Individuals who have found money and other treasure are responsible for reporting it to the IRS as taxable income,” Ryan said. “This should be done on the individual's tax return for the year in which the money or property was found.
Is it illegal to keep money you find on the ground reddit? ›
If you find something, you have to make reasonable efforts to find the owner or hand into the police. If the owner can't be found or doesn't come forward, then you are allowed to keep it. If you just keep it, you can be charged with theft. Anything else...
Where is the best place to find money on the ground? ›
Check parking lots and bleachers.
It's amazing what people will drop when they are drunk, tired, and distracted. Whenever you need to go to a store, park far from the store, so you can search for money on the ground as you walk. Pay extra attention to self-pay parking lots and drive-throughs.
While it's perfectly OK to keep some cash at home, storing a large amount of funds in your house has two significant disadvantages: The money can be lost or stolen. Hiding cash under the mattress, behind a picture frame or anywhere in your house always carries the risk of it being misplaced, damaged or stolen.
Is throwing money disrespectful? ›
If you are paying someone and you throw money on the ground, it's considered VERY RUDE, because they have to bend down to get it.
Should you keep cash at home? ›
Key takeaways. Reasons people keep cash at home include emergency preparedness, financial privacy concerns and mistrust of banks. It's a good idea to keep enough cash at home to cover two months' worth of basic necessities, some experts recommend.
What happens if I find a million dollars? ›
Most states have lost and found laws. And generally speaking, if you find something, you have to turn it in, usually to the police. And if somebody comes to claim that item, then it goes back to its original owner or the person who owns title to that.
What money should I keep? ›
A long-standing rule of thumb for emergency funds is to set aside three to six months' worth of expenses. So, if your monthly expenses are $3,000, you'd need an emergency fund of $9,000 to $18,000 following this rule.
Can police track stolen cash? ›
Marking is a technique used by police to identify and trace money back to individuals taking part in illegal activities, such as bank robbers. The markings placed on these dollar bills are not visible to the naked eye, such as with the use of UV ink technology.
What does it mean when you find money on the street? ›
Ultimately, the spiritual meaning of finding money on the road is seen as a message from the universe, spirit guides, and loved ones in the spirit world. It's a reminder of your worth, guidance, and support from higher realms.
Is stealing money is a crime? ›
Stealing refers to taking someone else's property or money without their permission. An example of this would be taking money from a store or stealing money from a friend's wallet. Anyone arrested for an offense like this could face theft charges and the legal consequences that come with it.
What is the crime of hiding money? ›
Money laundering schemes: common criminal strategies. Money laundering is a crime that involves concealing the origins of money obtained through illegal activities so that it appears to have come from legitimate sources.
