Ace the APOSTC Legal Exam 2026 – Unleash Your Law-Enforcement Prowess!

The key idea is that lost property is treated as a separate theft offense with its own value-based degrees. If you knowingly take possession of property that has been lost, you can be guilty of theft of lost property, not plain theft of property, and the exact degree depends on the property's value.

Here, the property is valued between $1,500 and $2,500. That falls into the second-degree tier for theft of lost property, which is a Class C felony. The result reflects recognizing that the item was lost (not stolen) and the specific value bracket, which dictates the severity.

This isn’t about theft of property or theft of services. Theft of property concerns stolen items, and theft of services covers unpaid-for services.