I'm just wondering if you hired a contractor to do some remodeling in your home and he happens to find $182,000 dollars in old bills in the wall. Would you split it with him 40 - 60 or would you do something different? By the way the contractor is a old high school friend. Think about it and then read the story. http://news.yahoo.com/s/ap/20081108/ap_on_re_us/house_hidden_money;_ylt=Ai3M.7krisCkOfBEBHqBPLxvzwcF Lou
This happens more often that you would think. In my opinion (and that's all it is) the money belongs to the property owner. The contractor is hired to do a job and has no claim on any valuables found during demolition. The heirs of the person who stashed the money (and, I presume, owned the house at the time) may have a claim for some of the money (depending on how good a lawyer they have). The logical thing to have done in this case would be for the homeowner to give the contractor 10% as a reward - AND KEEP YOUR MOUTHS SHUT. But, no. She had to go berzerk and blow a bunch of it on a trip to Hawaii and blab the news all over the place.
And their bickering and resultant legal dilemma invited the drama of the heirs to the gentleman whom placed the notes there in the first place stepping in and asserting a claim. And $60K went missing from a shoebox? Why didn't the homeowner get a safe deposit box or something? Sounds like she and her contractor buddy were both a few bricks short of a hod.
very interesting story. I guarantee that I would not have left the table during the first conversation without a resolution in writing. Somehow, I would have come to an agreement. But this is a once in a life time encounter. Wow. Big bucks.
I wonder what would happen if you took a wad of that money to a bank to deposit. Would they become suspicious of all the old bills?
If I understand this article correctly , the heirs of the guy who originally stashed the loot filed a claim for the money. I assume this house was sold "as is" with no warranty from the seller or no obligations from the seller other than to buy. Oh well, one can file a claim or sue anybody for anything. According to some of the movies I have watched a 10% finders fee would have been customary. I can understand one could question whether the contractor should have been entitled to anything since he was hired to do a job. I do think that the 40% or whatever was a bit much but this guy could have probably never said anything and walked out with all the cash. If I were the owner, someone would have probably "Stole" $60,000 from me to. I am afraid I do not have very strong moral fiber.
Wait, they spent some of the money? As in use them to physically acquire goods and services? AIIIIIEEEEEE, think of the rare notes lost to the Federal Reserve Shredders!!
Question to the Paper collectors out there: It says "Depression Era" notes. Let's assume Very Nice shape, but not Crisp and let's assume just "regular" bills - no rarities. How much would $182,000 face be worth in bills from the 1920's and 1930's??
The $500 note in Gem go for 4-6 times face and if it was from a low print Fed Reserve Bank, much more! So look at that number and do the math!! He is holding $500's..do not know the denoms on all of it..article did not say! RickieB
Some of the $500's already have filtered into the market. If memory serves correct they were mostly Chicago, pretty common, but there were a few Clevelands in there also and those are not common.
I feel like we've had this question before. I wouldn't give him anything, except a slap on the bad and a handshake. I don't even know why this is a question. Its your house and some hired help found your money. Ruben
