What Massachusetts Law Says About Keeping Found Money

Police in Kennebunk, Maine have been searching for an older man they believe picked up an envelope containing $7,400 in cash that had fallen from the roof of a car over the weekend.

According to Boston 25 News, the driver who lost the money was reportedly on the way to buy a car when the envelope slipped off the roof and landed in the street.

Authorities say they have surveillance footage showing two older men at the scene. One of the men picked up the envelope, and another was standing nearby watching. Police are only seeking the man who took the money.

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What Massachusetts Law Says About Keeping Lost Items

It raises a big question: while bringing the lost money to the police department would have morally been the right thing to do, is there a law that addresses lost items? In other words, is it illegal to keep money or property that someone else lost?

The short answer is yes, at least in Massachusetts.

Massachusetts General Law requires that anyone who finds an item worth more than $3 must report and turn it in to the police within two days.

If the person fails to do so, they can be fined up to $100 under Massachusetts General Law Chapter 134, Section 1.

The Catch: Outdated Rules Still Apply

If there is no police station in the town where the item was found, the law actually says you must take out an ad in the local newspaper to report it. Who has the time for this?  While humorous, it is a clear sign the law was written long before the age of Facebook and smartphones.

So before you pocket something you “find,” keep in mind that returning it might save you a fine, and maybe even your reputation.