It may seem unrealistic, but what if you found a bag of money? What would you do? There are instances where people have stumbled on hundreds of dollars in parking lots. According to HG.org, a 75-year-old woman once found and returned $100,000 she found in the parking lot of a restaurant in Tennessee. For many, that amount of money could be life-changing. Of course, the right thing is to let the authorities handle it and hand over the money. But what are your legal obligations if you find a sum of money? How would you handle it? Here’s what you need to do immediately if you are lucky enough to find a bag of money.
1. Try and Find The Owner
If you’ve found a bag of money, the first thing you should do is try to find the owner. If you can’t find its owner, turn it in to the police. Or if you found it in a parking lot, get the store involved.
2. Look for Identification
If you found a wallet, try to find an ID. You can then try and get in contact with its owner.
3. Don’t Touch It
You might not want to touch the money as it could be tied to a crime. You don’t want to tamper with evidence if the money was involved in a robbery. While this might seem like a scene out of a movie, your best bet may be to call the authorities and let them handle it.
4. Assess The Area
Take stock of your surroundings. Are there cameras around at a local business? You could ask them for help. Are there other people around who saw what happened? Make sure that you are all safe first before taking further action.
5. Document Your Findings
You might want to document what you found. Take pictures so that you can turn it over to the police. However, don’t post any photos on social media.
6. Wait for The Police
Once you call the police, you’ll want to wait for them to arrive. They probably will also want to question you. You’ll seem suspicious if you leave the scene.
7. Tell Your Story
Make sure you tell the truth when talking to the police. Let them know everything you saw and how you found the money. If the money is tied to a crime you may become a witness. You may even have to appear in court.
8. Know Your Rights
If you found the money, in some cases you may be entitled to it. This is usually after a holding period. Know your rights and be patient. But understand that just because you found the money doesn’t mean that it’s yours. If you found a large sum of money, you may want to enlist the help of an attorney.
Have you ever found money? What did you do with it? Let us know in the comments.
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Teri Monroe started her career in communications working for local government and nonprofits. Today, she is a freelance finance and lifestyle writer and small business owner. In her spare time, she loves golfing with her husband, taking her dog Milo on long walks, and playing pickleball with friends.
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