- Lost property: The owner unintentionally parted with it. The finder has rights against everyone except the true owner. Example: a wallet falls out of a pocket onto the Walmart floor.
- Mislaid property: The owner intentionally placed it somewhere and forgot. The owner of the premises (Walmart) has a superior claim to the finder. Example: setting a phone on a shelf and walking away.
- Abandoned property: The owner intentionally discarded it. The finder can keep it. Example: trash in a dumpster.
The distinction matters. If the money on the floor is lost, your common-law claim is better than Walmart's. If it is mislaid, Walmart's claim is better than yours. But either way, the statute overrides both.
Georgia does not care whether you call it lost, mislaid, or abandoned. The statute says: if you come into control of property that you know or learn has been lost or mislaid, and you appropriate it to your own use without first taking reasonable measures to restore the property to the owner, you have committed theft.
The penalty depends on value:
- $1,500 or less: Misdemeanor. Up to 12 months in jail and a $1,000 fine.
- More than $1,500: Felony. One to ten years in prison.
What counts as "reasonable measures"? The statute does not define it. It is a fact question for the jury. Georgia courts have held that waiting around for a minute to see if the owner returns is not enough. Turning the money in to store management or the police generally is.
- "Finders keepers, losers weepers." Not the law in Georgia. It is a defense that will get you convicted.
- "If I found it in the parking lot, it's different." The statute applies regardless of location. The only question is whether you knew or learned the property was lost and failed to take reasonable measures.
- "I didn't know whose it was, so I couldn't return it." Ignorance of the owner's identity is not a defense. The statute requires you to take reasonable measures to restore it - turning it in to the store or police satisfies this even if the owner is never found.
- "The store has cameras, they'll find the owner." That is the store's problem, not yours. Your obligation is to take reasonable measures, not to solve the case.
- "It's only theft if I take it from a person." No. Theft of lost or mislaid property is a separate offense from theft by taking. You do not have to steal it from anyone's hand. Picking it up and walking out is enough.
Sources: O.C.G.A. 16-8-6; Shannon v. State, 258 Ga. App. 689 (2002). Checked 25 Aug 2026.