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Lost Property, Finding of, the discovery and taking of a lost (i.e. moveable) object which is someone's Property, but is not in that person's possession. Depending on the value of the object found, the finder must make locally known the finding of objects valued at between ATS 50 and ATS 200, and report to the police the finding of objects of a value higher than this. After one year the finder is entitled to use the object, after three years the finder becomes its legal owner. The finder is also entitled to a reimbursement of expenses and a reward (the reward comes to 10 % for objects valued under ATS 10,000, 5 % for objects over ATS 10,000). Special provisions exist for treasure finds: the finder is entitled to half of the treasure, the owner of the estate in which the treasure was found to the other half. For treasure finds of historical or cultural significance, the finder is required to report the find to the authorities under the Law on the Protection of Historic Monuments.

Literature#