lost property


lost property
Property which the owner has involuntarily parted with, through neglect, carelessness or inadvertence, and does not know where to find or recover it, not including property which he has intentionally concealed or deposited in a secret place for safe-keeping. Distinguishable from mislaid property which has been deliberately placed somewhere and forgotten. The majority of the states have adopted the Uniform Disposition of Unclaimed Property Act
A person who comes into control of property of another that he knows to have been lost, mislaid, or delivered under a mistake as to the nature or amount of the property or the identity of the recipient is guilty of theft if, with purpose to deprive the owner thereof, he fails to take reasonable measures to restore the property to a person entitled to have it. Model Penal Code No. 223.5

Black's law dictionary. . 1990.