‘Discovery of a Misplaced Ring at the Gym: Should I Retain It?’

Dear reader,

In 2019, the police stopped handling lost property unless it is involved in a crime, contains cash, or has an identifiable owner. As the finder of the lost ring, you did the right thing by handing it over to the gym authorities.

The gym manager is legally required to make reasonable efforts to return the ring to its owner, although what constitutes “reasonable” is not clearly defined. It is likely that the gym manager has stored the item safely, registered it as lost property, and informed the staff so that they can respond if the owner inquires.

Have you seen any notices or emails from the gym regarding a lost piece of jewelry? These efforts would be considered reasonable, although some venues may have simpler policies that only require registration and storage for a week before considering their responsibility fulfilled.

The length of time lost property should be kept for reclaiming is vague and may vary depending on the venue. A policy could take into account the frequency of visits to the venue and the likelihood of the owner noticing it is missing.

While there is no legal rule of “finders keepers,” it is not within the gym’s rights to grant ownership of the ring to you. A more reasonable option would be to donate it to charity if all reasonable steps have been taken to locate the owner and a clear deadline has been given.

If the ring was given to you by the gym owner, wearing it to the gym might raise concerns about someone challenging your ownership. Would you be willing to give it back if the original owner claims it? The value of the ring could also impact the dilemma.

Getting a rough estimate of the ring’s value might help, although it is not a requirement for deciding what to do with it. If the ring is exceptionally valuable, it increases the likelihood of the owner making efforts to track it down.

If the gym can prove that it tried to return the lost property before donating it to charity, it would not be considered theft. In such a case, the gym could suggest that the owner make an insurance claim.

What are your thoughts on this situation? Let us know in the comments below, and we’ll publish the best responses. You can also email us – in confidence – with your own Moral Money questions: [email protected]

Last week’s Moral Money question was “After a huge row, my gran disinherited my mom – now I’m getting the house. Should I tell her?”

Here are some of the best responses:

Christopher Powell: Inheritance should not be seen as an entitlement, so your mother should be happy for you and move on. If she contests the decision, it reflects poorly on her. Inheritances should be viewed as bonuses, not expectations.

Andrew Johnston: I had a similar situation where my mother disinherited my sisters. It was not a problem, as we all knew about it, and I shared the inheritance with them after her passing. It’s important to have open discussions and make fair decisions.

Robert Storey: Discuss the situation with your mother to avoid her feeling angry or hurt. Your relationship with her is more important than any amount of money. Consider sharing a portion of your inheritance with her, even without her asking.