Can I keep money that I find?
July 13, 2024 | 40,00 EUR | answered by Piotr Gehrmann
Dear lawyer,
My name is Bernhard Eberstark and I have a question regarding a discovery I recently made. Last week on my way to work, I found an envelope with a larger sum of money on the street. The amount is 500 euros.
I am unsure of what to do with the money. On one hand, it would be financially beneficial for me to keep the money. On the other hand, I am not sure if it is legally allowed to simply keep found money. I do not want to commit a crime or get into legal trouble.
Therefore, my question to you is: Am I allowed to keep found money? Are there any legal regulations that tell me what to do in such a situation? What consequences could it have if I keep the money or if I turn it in?
I thank you in advance for your help and support with this question and look forward to your assessment.
Sincerely,
Bernhard Eberstark
Dear Mr. Eberstark,
Thank you for your inquiry regarding the money found on the street. It is understandable that you may feel unsure in such a situation and have legal concerns. I will try to provide you with a detailed response to help you decide what to do with the found money.
In Germany, the so-called "Lost Property Law" applies, which regulates how found items should be handled. According to § 965 of the Civil Code (BGB), the finder is obliged to immediately report the find to the owner or the Lost Property Office. This also applies to found money. The finder has the duty to keep the find safe until the owner is identified or the money can be handed over to an authority.
If the owner of the money cannot be identified within a year, the ownership of the money transfers to the finder. This means that after this deadline, you are allowed to keep the money without committing a crime. It is important that you report and document the find properly to avoid legal issues.
If you keep the money without reporting it, you could be committing embezzlement under § 246 of the Criminal Code (StGB). This can be sanctioned with a fine or even a prison sentence. Therefore, it is advisable to report the find properly to avoid legal consequences.
In summary, you are allowed to keep the found money if you report and keep it properly until the owner is identified. If the owner is not found within a year, the ownership transfers to you. It is important to handle the find correctly to avoid legal difficulties.
I hope this information helps you in your decision. If you have any further questions or need legal assistance, I am happy to help.
Best regards,
Piotr Gehrmann
