N.Y. Personal Property Law § 254: Disposition of lost property

§ 254. Disposition of lost property. Except as provided in section two

hundred fifty-six of this chapter, lost property deposited with the

police, and the money constituting proceeds of lost property sold as

provided in subdivision five of section two hundred fifty-three

remaining after deduction of expenses as therein provided, shall be

disposed of as follows:

1. It shall be delivered to the owner, upon his demand and upon

payment of all reasonable expenses incurred in connection therewith, if

no written notice of any other claim to the property has been served

upon the police having custody, and the time specified in subdivision

seven of section two hundred fifty-three of this chapter has not expired

or, if such period has expired, no demand has been made by the finder or

a person entitled to assert the right of the finder as provided in

section two hundred fifty-six of this chapter.

2. If at the end of the period specified in subdivision seven of

section two hundred fifty-three of this chapter the owner has not

claimed the property, it shall be delivered to the finder, or person

entitled to assert the rights of the finder as provided in section two

hundred fifty-six of this chapter, upon his demand therefor, and upon

payment of all reasonable expenses incurred in connection therewith.

3. If at the end of ten days after expiration of the period specified

in subdivision seven of section two hundred fifty-three, the owner has

not claimed it, and no demand has been made by the finder or a person

entitled to assert the right of the finder as provided in section two

hundred fifty-six of this chapter, property consisting of money shall be

paid as provided in section two hundred fifty-eight of this chapter and

other property shall be sold at public auction and the proceeds shall be

paid as provided in such section two hundred fifty-eight. Where the

property was deposited with the state police, such sale shall be held in

accordance with rules of the comptroller.