APOSTC Legal Practice Exam

The key idea is that taking possession of property that is lost, with the knowledge that it’s lost, is charged as Theft of Lost Property rather than ordinary theft. The degree of the offense is then set by how much the property is worth. With a value in the range of $500 to $1499, this falls into the theft-of-lost-property category at the third degree, which is a felony (class D). If the value were lower, or if the property hadn’t been known to be lost, the charge would be a lower degree or a misdemeanor; if the value were higher, it would map to a higher degree felony. So the scenario described best fits Theft of Lost Property in the 3rd Degree, felony class D.