N.Y. Personal Property Law § 257: Title to lost property

§ 257. Title to lost property. 1. The title to lost property which has

been deposited with the police shall vest in the finder, or other person

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

hundred fifty-six of this chapter, when the property is delivered to him

in accordance with section two hundred fifty-four of this chapter and

shall vest in the buyer when the property is sold as provided in section

two hundred fifty-three or two hundred fifty-four of this chapter.

2. If the finder of lost property under the value of ten dollars has

made reasonable effort to find the owner and restore it to him, and has

been unable to do so, the title to such property shall vest in the

finder at the end of one year after the finding.