Originally Posted by
Loren Pechtel
Yeah, you did get it back, but I'm amazed at their actions. I would think that they would legally be on the hook for the value of the ring if they dispose of it after having identified it's owner.
I strongly suspect you were dealing with someone who didn't want to be bothered to even try.
If the agent had looked at report (thus knowing who the ring belonged to) a possible claim could be made if not returned. However they had no duty to look at reports. They have no duty of care for the item and once statutory time limit is reached they own item. (Thus why send to warehouse to wait the time required for owner to claim) This means if employee accidentally had tossed in trash, no claim. Basically the only reason they would be on hook is if once you knew where item was they prevented you from repossessing the item. (This means knowing it's actual physical location, not just were lost the item)
They only need to hold it for X period if time, then can sell it. Depending on state they may need to hold onto funds for a further X period. However usually once they can sell it, they get to keep any value.