Legal Question in Real Estate Law in Kentucky

Re: stocks

It is not possible to give you a clear legal answer to your inquiry without a more detailed evaluation of the facts of your case.

Generally speaking, any personal property found in or on real estate owned by you belongs to you. If you find a $20 bill under the carpet, it is yours, because you cannot ascertain the original owner, and may reasonably assume the money has been abandoned.

On the other hand, if you find under the carpet a check for $20, payable to "John Doe," you cannot cash the check without Mr. Doe's endorsement.

Similarly, stock certificates cannot be sold or transferred without the signature of the owner named on the certificate (or his personal representative, such as "attorney in fact" (power of attorney) or the executor or administrator of the deceased owner's estate.

And, since you can readily ascertain the name of the owner of the stock, your best legal recourse is to attempt to return the certificates to the owner, and hope for a reward.

You should not take any action, based upon my advice, without consulting an attorney and explaining all the facts to him. You are best advised to seek the services of a competent Kentucky attorney. You can telephone your local bar association for a referral, or can find a good lawyer on-line at the Kentucky Bar Association's Lawyer Referral Service:

http://www.kybar.org/Default.aspx?tabid=291

Good luck!

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