A HUGE find close to home

[BioProfessor]

I didn't make this find and it wasn't made with a metal detector but it parallels some of the conversations we have had on the forum about finds and who owns them. The story is new on CNN this morning and should be worth following.

Seems a couple had a contractor do some work on their bathroom (**a person lets you metal detect their land**). In doing the work, the contractor finds about $180,000.00 in now rare bills from the 1930's (**while metal detecting, you find a hoard of coins and bills buried by the barn**). The homeowner offers the contractor a 10% finders fee. The contractor says "Finder's keepers." and hires a lawyer.

Should be interesting to find out how this turns out. Do the homeowners really own it and get to keep it? Does the contractor who found it get to keep it? Do they have to split it? Does it go back to the family who sold the house where their father lived and hide the money (money wrapped in newspaper dated during the time)?

However it turns out, it may have an impact on our hobby.

Daryl

 

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[mastereagle22]

I wouldn't be surprised if the person's who hid it family gets involved and makes a claim too.

Who do you think it belongs to?

 

[Colonial KirkPA]

I think it belongs to the 1930s mint.

BDD...Kirk

 

[BioProfessor]

This is going to be a tough one to figure out. That's the reason I posted it. I don't know who it legally belongs to. The only one I am "sure" doesn't own it is the contractor??

Daryl

 

[Montana Jim]

I wouldn't be surprised if the person's who hid it family gets involved and makes a claim too.

Who do you think it belongs to?

It belongs to the homeowners... 10 percent was nothing for the contractor to sneeze at... what a prick.

We live in a screwed up society... sue happy bastards... "get a lawyer" should be this country's mantra.

However, local law will be clear enough - what city/state was it found in?

 

[Don in SJ]

I think it is a no brainer on this one, the homeowner is the rightful owner of the cash, no doubt about it. The contractor was hired to do a job and finding the cash was no different than if the wife had lost a diamond ring down the drain and they found it. It belongs to the owner of the item and the property on which it was found.
The contractor was not given permission to look for anything.

Now, for a metal detectorist, it gets a bit more muddied, since the owners gave permission for you to detect and the outcome of detecting IS finding items. So, there it might go either way or split if one were to challenge you on what you found metal detecting with the owner's permission.........

Don

 

[BioProfessor]

I think it was found in Ohio.

Daryl

 

[mastereagle22]

Well that would be my argument as well. The contractor was just greedy. It will be interesting to see who gets to keep the money but I think it is clear who the WINNERS will be. . . . . . . . the Lawyers!

 

[RaptorSE]

Interesting story !

I agree with the others... Why in the world would a contractor in someone elses home, think
the money is "finders keepers"? /boggle What if he walked into a bedroom and saw a
wallet full of money on the dresser... does he think he can rightfully take it ?

I would venture to guess that the current owners will get it all. They were granted ownership when
they bought the place, property and everything contained in it.

 

[DaChief]

Morally, she should give him more than the 10 percent. Legally, the money is hers and she doesn't have to give him squat. The finders keepers ruling that they speak of in the article applies to property found that has been publically abandoned and that no legal ownership can be determined of. This property, the cash, became the property of the lady who purchased the home because it was part of the home that she purchased even if she did not know the home contained it.

Think of it this way. When we purchase a home, there are many things that are part of that purchase that an average homeowner has no knowledge of the existence of or the value of. For example, lets say you buy and old home that has a light fixture, (Chandelier), in the dining room. The person you bought the home from didn't know or mention anything special about the fixture, you didn't recognize it as special nor did anyone else. At a later time, you hire a professional interior decorator to make some suggestions about the inside of the home and the decorator recognizes the Chandelier as a one of the kind hand made something from some famous Silversmith in the 1800's and then lets you know that the thing is worth a million bucks. Are you obligated to sell the Chandelier and give him or her a portion? No, because you own the stinkin house and anything in it or on the property when you bought it. The same goes with the money. It was clearly there when the purchase of the home was made and therefore belongs to the current owner of the home. She doesn't have to sell it and split it with him. It is hers to keep in its current state for as long as she wants to and sell it as she sees fit and keep the full proceeds. If Mr. Contractor would have found the money out on the street, then the finders keepers law would apply if it is clearly lost or abandoned and legal ownership cannot be established. Even then, most state laws require you to make a reasonable effort to locate the owner of the property prior to it becoming yours. This could be done in the case of finding money on the roadway by checking with the local authorities for reports of large sums of money missing recently that match what you found, posting ads in the paper like "cash found in the vicinity of 4th and Main, owner must give identify of exact amount, denominations and describe container in which the cash was contained and any other papers or forms in the container". This would insure that the true owner would be the only person that would know this. Etc. Etc.

I will bet the farm that the contractor is peeing up the proverbial rope. He should take the 10 percent and be happy. He is most likely hoping this lady will grow tired of his suit and settle out of court. If she has a good attorney, I guarantee you she will keep the whole thing and Mr. Contractor will also end up paying for her legal expenses in having to defend his frivolous suit.

Some will say this is not fair but put yourself in the owner's shoes. I think 10 percent of 500 grand is a generous offer for something she doesn't have to do!

DaChief!

 

[roundhat]

contractors don't have a chance in keeping it. the contractor should be sued for stupidity and be forced to pay the home owner for the aggravation. lol.

 

[Colonial KirkPA]

I agree, give it all to me.

BDD...Kirk

 

[RedSpey]

I think she should tell the contractor that she'll get around to legally discussing it tomorrow and then claim to be too busy and put it off for a few years.

 

[Master Sarge]

So you are saying the contractor had an agreement with the home owners, that he would do the work for them in return they allow him to search their property? So he did not charge them for the labor?

 

[Derek752]

I grew up in Ohio , therefor its MINE !!!! GIMME GIMME GIMME

 

[BioProfessor]

I'm not saying anything about an agreement to search their property. I'm just saying this closely parallels what may be the case if someone metal detecting a person's land finds a cache worth half a million dollars. It ain't gonna be pretty.

Daryl

 

[root]

I personally hope the contractor incurs $18,500 in legal fees.........:-)

HH,

root

 

[srcdco]

I was just reading the newspaper article on this. It's in Cleveland, Ohio. Here's the link:

http://blog.cleveland.com/plaindealer/2007/12/182000_makes_finders_keepers_f.html

Scott

 

[mastereagle22]

How can you say morally the person should have offered more than 10 percent? There is nothing ethical or morally the person owed the contractor. By offering the 10 percent that was a nice enough gesture in my opinion.

 

[Steve_UK]

It must surely be the sole property of the home owner.

If the logic of the contractor is allowed to prevail, then any hidden item in someones house is fair game if 'discovered' by an outside contractor.

It won't affect me anyhow, I'm lucky to find a 10 pence piece and a seedy magazine behind a desk when repairing computers!