cache question??

[dodgeit]

was given an offer today by a fellow in his 90s to hunt for a large cache on his property,said it was hidden by the former owner who never married and was a large farmer that never trusted banks.this fellow said he knew him all his life and he told him he had hid the cache,the former owners family search for it,but never found it but they never used metal detectors..so we made the deal for a 25/75 split ,75 to him. my question is should I write up an agreement? I have three more buddies that will be helping me,and I have worked out a deal with them if we find it.

 

[d2]

I would have something written up. That will protect everyone...d2

 

[oddrod]

Yes, to all parties involved. Just the facts Ma'am, just the facts

 

[BosnMate]

Yup, signed agreement. Hope you find it. If it's a big one, expect the family of the original guy to be hot after you. If you don't think people go nuts when large amounts of money are found, you might do a little research on the name "Mel Fisher."

 

[WHADIFIND]

What about anything you find not associated with the cache? Still splitting it the same?

HH!

 

[terpfan]

Get the agreement in writing. It will be good for both of you.

 

[vpnavy]

Please let us know your final decision and its outcome dodgeit.

 

[Limitool]

I most certainly would and I'd add a couple other things also... I'd include a minimum amount before I'd call it a cache. This meaning if you find $100.00 in cash/coins buried... is this split? I'd also include that any single items found not be split. Things like individual coins, ring, old toys, ... etc. Anything single metal item found. In other words simply put... "What is considered a cache"? Spell it OUT.

 

[Gold Maven]

Don't overlook inside the outbuildings. Especially dirt floors, or the basement/crawl space, finished ceilings in outbuildings should be searched. Good Luck, keep us posted.

 

[CRUSADER]

First thing that jumps to mind is that he made a deal with you, did you make it clear you were going to bring in other parties? I know from experience that many owners would be very unhappy with this. If you haven't already, you better check quickly.

We generally use contracts on most land, but its not essential if there is some trust. Your problem is, you brought in other parties & this goes wrong more often than not (so a contract is now a MUST). I've read about lots of falling outs (legal battles) where hoards are found & its not normally the landowner, its the finder's'.

 

[Citiboy289]

Also --- Fireplace mantels and the bricks around them
Most old timers always buried their hoards within eye sight of a front door or kitchen window, so they could " keep an eye on it "
Also fence posts , any place that would give the person a " landmark " for future , reference
Stairwells, and if the house has one bathrooms
Good Luck as I always say , the research is half the fun

 

[Atomic Ed]

Also make sure once you do write something up that you both sign it in front of a notary. Local banks usually do it for free if you have an account there. This way there is very little to dispute after the fact in the way of interpretaion or that they really didn,t sign it. This has saved my ### before, believe me it just takes a minute and will make your signed document far more defendable if need be. Remember people always seem nice going into an agreement and even with the best intentions, things of value can have a way of affecting peoples perspectives really quick sometimes,

Good luck and hope it all works out for you both.

 

[wainzoid]

Let's say the cache is found and it happens to be 100 Morgan Dollars. Is your share 25 of the coins? Do they get sold and you get 25 percent of the take? If you divide the coins, who gets first pick? The landowner? You? Or your buddy that actually found them?

It sounds complicated to me. Good luck!

 

[dodgeit]

thanks for all the feedback you guys bring up alot I need to look into...

 

[CRUSADER]

thanks for all the feedback you guys bring up alot I need to look into...

yeap.

 

[dodgeit]

What about anything you find not associated with the cache? Still splitting it the same?

HH!

we keep whatever else we find..thanks

 

[dodgeit]

Let's say the cache is found and it happens to be 100 Morgan Dollars. Is your share 25 of the coins? Do they get sold and you get 25 percent of the take? If you divide the coins, who gets first pick? The landowner? You? Or your buddy that actually found them?

It sounds complicated to me. Good luck!

yea its already got a little sticky one guy thought he should get a bigger share ,so hes already out,the guys I bring in are all getting the same amount ,based on what I was told was hidden,no matter who finds it,and they know that going in,its 25 percent of the cashed in value...thanks

 

[dodgeit]

First thing that jumps to mind is that he made a deal with you, did you make it clear you were going to bring in other parties? I know from experience that many owners would be very unhappy with this. If you haven't already, you better check quickly.

We generally use contracts on most land, but its not essential if there is some trust. Your problem is, you brought in other parties & this goes wrong more often than not (so a contract is now a MUST). I've read about lots of falling outs (legal battles) where hoards are found & its not normally the landowner, its the finder's'.

yes I explained to him that our odds would be better if I brought some help,you brought up alot of good points...thanks

 

[rock]

I read a post once many yrs ago. There was a guy that made a verbal agreement to find treasure on a persons land. He didnt make anything in writing on it. They had to tell the owner where they had checked as in which parts of the land. The land owner waited till there was a small part not checked and then told them to leave cause he changed his mind. They were kicked off and the treasure was probably at the very end of the property. They were never allowed back to finish. I would guess the owner found it his self after he kicked them off. Never did find out what happened from there. So yes get it in writing and dont tell where you have hunted till you are done searching the whole property.