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  Finding a jewel-encrusted ring in the woods is a childhood dream, but should it come true, there are some real legal issues that surround the fortuitous discovery. In Delaware, laws regulate how those who find unclaimed property dispose or lay claim to it, as well as laws that regulate the disposal of abandoned assets and unclaimed accounts left untouched in banks and other financial institutions for extended periods of time.
  
  

Abandoned Personal Property

• Unclaimed abandoned personal property is any tangible, non-real estate property that was left in the care of a third party and then failed to pay storage costs or monthly rent for its care. As long as the unclaimed and abandoned property isn't stolen or otherwise illegally in possession of the person who abandoned it, the right to the unclaimed property reverts to the owner of the property at which the property was abandoned.
  
  

Found Personal Property

• Laws on found personal property vary by municipality, though in most cases, the person who found the property must turn it over to the police to give the rightful owner an opportunity to claim the lost item. Police publish notifications of found property and, after a number of postings that varies from city to city, and a specified amount of time (usually around 60 days, though this varies by municipality), it reverts to the finder's property.
  
  

Unclaimed Assets and Escheat

• General ledger property such as uncashed vendor and payroll checks, credits for refunds and certain types of purchased but not received inventory may be declared unclaimed and reported to the State of Delaware for escheat proceedings. Other bank assets, such as stocks, untouched funds, insurance proceeds and contents of safe-deposit boxes may also be turned over to the state for holding in its escheat program. To lay claim to abandoned property in escheat, claimants must notify the state using a coupon sent to the Delaware Department of Revenue to receive official claimant paperwork. To claim property of person, applicants must provide a notarized copy granting them power of attorney for the other person.