Finders Keepers; Who gets the cash?

[turbotim]

Now, this is some stuff. Check out this article.

Here is the article.

Now this is a sticky one doesn't the owner own the house and land? Now granted the contractor found it while working for the owner; but what makes him think he deserves to get 40%.

A contractor who helped discover bundles of Depression-era U.S. currency totaling $182,000 hidden behind bathroom walls said the homeowner should turn the money over to him or at least share it.

It's HER house and HER money! That's what I think.

[RamboPreacher]

...

It's HER house and HER money! That's what I think.

ding, ding... I agree.

[MacUser]

A contractor who helped discover bundles of Depression-era U.S. currency totaling $182,000 hidden behind bathroom walls said the homeowner should turn the money over to him or at least share it.

It's HER house and HER money! That's what I think.

You guys don't know about Contractors do you?

[A2JGirl]

If I were here I would probably would have given him a reward for finding it, but with his attitude, it would make me not want to give him anything!

[AndyG]

A finder's fee would be appropriate. Traditionally it is 5% to 25% depending on the value of what is found and if any pre-existing agreement is made.

I currently have an agreement with a couple of land owners where I have a Geocache placed which gives the owner first right of refusal and me 50% of the value of anything of item I discover on their proeprty if they keep it, or ownership of the item if they refuse the item. (Their land was part of the civil war battle in Chattanooga and I have dug up some interesting artifacts for them while on their land.)

I have someone else watching those caches now that I am in Memphis, but the agreement is still in place.

[turbotim]

I am not sure from reading the article but the case might have been that the contractor could have kept it all and not told the lady about it?

I don't think she was obligated to give the man anything but I do think she should appreciate his honesty and he should be rewarded for it.

[forestwalker]

...the case might have been that the contractor could have kept it all and not told the lady about it?

I don't think she was obligated to give the man anything but I do think she should appreciate his honesty and he should be rewarded for it.

Agreed. His contract likely required that he haul away all material from the demo. He could easily have kept it all just by not saying anything about it, perhaps even legally under the terms of his contract.

[one love]

...the case might have been that the contractor could have kept it all and not told the lady about it?

I don't think she was obligated to give the man anything but I do think she should appreciate his honesty and he should be rewarded for it.

Agreed. His contract likely required that he haul away all material from the demo. He could easily have kept it all just by not saying anything about it, perhaps even legally under the terms of his contract.

This is the answer in my opinion. Where he found it was going to the trash he could have never said a word. Yet he chose to be honest which is rare these days. 40 percent is to much but I feel she should give him something like the previous poster said a finders fee 5-20 percent. Hey its free money she would have never had if he didnt find it. Imagine is one of his labours found it he would not even know about it most likely.

Btw not all contractors are bad

[forestwalker]

Imagine is one of his labours found it he would not even know about it most likely.

Btw not all contractors are bad

Neither are all laborers.

[rjc]

I have a perfect solution. In order to keep from having any bad feelings between the property owner and the contractor, since neither one of them knew about or counted on finding this, they should donate it to a worthy cause......If they would send it to me I KNOW I can find a worthy cause to give it to, how about the RJC Retirement Fund.

[Full Quiver]

I'd like to see the judge say let's find out who this money originally belonged to, seek them or their heirs out, and give it to the rightful owners. I highly doubt that anyone would sell a home knowing that $100,000 + was hidden in the walls.

[RamboPreacher]

I'd like to see the judge say let's find out who this money originally belonged to, seek them or their heirs out, and give it to the rightful owners. I highly doubt that anyone would sell a home knowing that $100,000 + was hidden in the walls.

don't think it matters, in my opinion. if they sold it, they sold it.

as for ownership, I am sticking with the homeowner. It doesn't matter if the contractor was supposed to/required to get rid of or dispose of the trash. I have worked with many a contractor, and there was nothing like a general agreement to have all "materials" hauled away. there were always very specific agreements in removal of trash, rubbish, leftover and excess building materials, etc. if the agreement was that generic, they could haul away the big screen TV if they wanted. nope, in my opinion, and without any information of what the agreement was, whether written or verbal, I am sticking with ownership is the current homeowner.

[pastorables]

Yet he chose to be honest which is rare these days. 40 percent is to much but I feel she should give him something like the previous poster said a finders fee 5-20 percent.

John Chambers, an attorney for Reece, said Kitts rejected his client's offer of a 10 percent finder's fee and demanded 40 percent of the small fortune.

How could you guys miss this from the article? The 10% finder's fee was rejected by the contractor.

pa

[pastorables]

(Their land was part of the civil war battle in Chattanooga and I have dug up some interesting artifacts for them while on their land.)

Hey pal, let's hook up. I am a relic buff also. I know of several nice sites in Mississippi. We need to get together and swap hunting tips and trips.

I have sold the largest part of mine and my father's collection, but still have a few nice items.

pa

[Mister Ed]

I heard a discussion about this on radio and the question was raised about who would want to claim the find if it had been a cache of illegal drugs.

Also they commented that the money is probably worth close to $2,000,000.00 because of the age as they were all in silver certificates and included a $1,000.00 bill. Quite a find!