Found Money in New Home

[VirginiaBoy]

Hello.

Here is the scenario... Man buys a house. While renovating, he finds a substantial sum of money hidden inside a wall. Along with the money, there are papers with the former homeowner's name on them. Former homeowner has been deceased for 10 years, but his son is alive.

What are the new homeowner's legal rights and responsibilities?

Thx Much.
VirginiaBoy

[adjusterjack]

Re: Found Money in New Home

"Legal" responsibility - Call the son and turn over the money and the papers.

"Non-legal" responsibility - Finders keepers, losers weepers.

It's the choice between good and evil. Which will you choose?

[Highwayman]

Re: Found Money in New Home

Here is the scenario... Man buys a house.

Not wasting time on a hypothetical situation.

[Lexus]

In this case you can contact the legal hier of the deceased person and hand over the belongings in the presence of a witness and demand a receipt from the receiver to avoid future claims.

[Highwayman]

Re: Found Money in New Home

In this case you can contact the legal hier...

Maybe you can explain exactly what that is?

[goddessoflubboc]

Re: Found Money in New Home

When you bought the house, you bought everything left in it. Dining room table, mice, money in the wall.

[Unregistered]

Re: Found Money in New Home

We found a 24k gold and diamond ring and necklace in the dresser behind the back panel of the dresser in the home we bought.

It is in an envelope AND with name and number of the presumed owner.

I am not sure if we really own that gold/diamonds now or not?

[adjusterjack]

Re: Found Money in New Home

I am not sure if we really own that gold/diamonds now or not?

Carefully and thoroughly read your purchase contract and see what it says, if anything, about personal property left behind at close of escrow.

[Unregistered]

Re: Found Money in New Home

Carefully and thoroughly read your purchase contract and see what it says, if anything, about personal property left behind at close of escrow.

Thanks!

It only says any furniture left behind or agreed upon belongs to me.
No word on personal items.

[adjusterjack]

Re: Found Money in New Home

Thanks!

It only says any furniture left behind or agreed upon belongs to me.
No word on personal items.

Then the question becomes: Are you a good person or a bad person?

It's that simple.

You choose.

[Unregistered]

Re: Found Money in New Home

Or maybe the question is do you need the money or not??