Legal Question in Real Estate Law in Indiana

Found Money

In January, I was in my credit union making a deposit, when I noticed an envelope on the desk that holds the deposit and withdrawl slips. It was a white envelope with no name or markings on it. I picked it up, looked inside and found $500. I turned it in to the credit union so they could try to find its owner. They did place my name on the envelope. Since then, I have contacted the credit union and they have not found who the money belongs to. They have offered me a reward of $50, but I was wondering if I have any claim on the $500.


Asked on 4/24/03, 1:27 pm

1 Answer from Attorneys
John Bator Bator Redman & Shive

Re: Found Money

You are truly a good samaritan!! As i understand the law, as the finder, if after due diligence the true owner cannot be found, the finder gets to keep the money. I don't understand the credit union's position. Surely they don't get to keep the money if no one claims it.

I believe thirty days has to pass with no claim before it can go to someone else

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Answered on 4/24/03, 2:40 pm


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