We’ve all heard the saying “Finders keepers, losers weepers,” likely during our elementary school days when a classmate lost something, and you found it. But when it comes to real life, especially in Texas, the situation is much more complicated than a simple game of chance.
In Texas, the law has a clearer and more structured approach to finding items, and “finders keepers” isn’t as simple as it sounds.
According to lawyer Bryan Wilson in an interview with the
Fort Worth Star-Telegram
, found items in Texas are categorized into four distinct buckets: Abandoned, Lost, Mislaid, and Treasure Trove. Each of these categories is treated differently under Texas law.
The Four Categories of Found Property
Abandoned Property
:
If an item has been abandoned for three years, it can be claimed by the person who finds it. After this period, the item is no longer considered owned by the original person, and the finder can legally take possession of it.
Lost Property
:
If an item is lost, the person who finds it can claim it as their own—but only if the original owner doesn’t come forward. If the owner does come forward and proves ownership, the item must be returned to them. So, if you find a lost wallet, for example, you can hold on to it, but if the owner later proves it’s theirs, you have to return it.
Mislaid Property
:
When an item is mislaid, it typically means the owner intended to return for it. Under Texas law, if you find something that appears mislaid (like a phone left on a table or a set of keys), it must be left alone or handed over to someone who can help return it to its rightful owner. This is because the owner is likely coming back to claim it.
Treasure Trove
:
Interestingly, Texas does not recognize “Treasure Trove”—meaning if you stumble upon hidden gold, old artifacts, or any treasure-like objects, the same rules apply. The items are either considered lost or mislaid, and if the owner can prove ownership, they must be returned.
Why “Finders Keepers” Doesn’t Work in Texas
Contrary to the playground rules of “Finders keepers, losers weepers,” Texas law doesn’t allow you to just take what you find. The state has strict rules about theft and property rights.
If you find something that is not yours and you fail to return it to the rightful owner, you could be charged with theft. The severity of the charge depends on the value of the item:
Class C misdemeanor
: If the found item is valued at under $100, you could face a Class C misdemeanor, which is a minor charge but still a legal violation.
Felony charges
: If the value of the item is between $2,500 and $30,000, you could be looking at felony charges for theft, which comes with much more serious consequences.
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