Cash in the attic

[Lofty23]

Morning,

I’ve lived in this house for about 4 years. The previous owners took all their belongings when they sold and moved out.

I was working in the loft a couple of weeks ago and found a substantial amount of money in old £20 notes hidden under the loft insulation.

Is this money legally mine? If so, what do I do with it

Lofty

[scotman]

It is yours if you don't tell anyone about it. Define substantial. How old do the notes appear?

[Lofty23]

Hi Scotman

Substantial - £30,000. They look like ordinary old £20 notes - most have Sir Edward Elgar on the back.

If it's mine what do I do with old notes, I can't spend them as they no longer have legal tender status

[scotman]

This might help

http://www.bankofengl...s/withdrawn/elgar.htm

[boxtops]

You bought the house - I would have thought by now if the previous owners were missing money, they'd have come back to you by now. It might not even belong to them - it could be people who lived there several owners ago, don't give it to the wrong people!
If you are going to keep it, do be prepared to be quizzed by the bank when you go to change it or deposit it. My mother had some money from an insurance policy which matured, and the money laundering clearances she faced in trying to open a new account with it were considerable. I'd suggest that you write to the Bank of England explaining exactly what happened, that nobody has come forward to claim it, and will they convert it for you. You have to tell them how you got it, otherwise it will look fishy from a criminal point of view - which this isn't.
I think I'll go look in MY loft....

[scotman]

Just had a quick check. Elgar notes introduced in June 1999 so this is not that old.

[maclarencat]

We now have no loft insulation in our loft and never even found a penny!

[brenda]

Lofty -- it's mine , it's mine -- please just send-- will pay postage !!!!!

[Lofty23]

Save the postage Brenda, I've been told by Boxtops IT'S MINE.

[scotman]

Do you know how long the previous occupants had been in the house. Did they own or rent it? Was the house sold to you as result of death of previous occupant or did they just move on?
Given that Elgar notes cannot be very old it seems unlikely that if it was theirs they would have forgotten about it so quickly.

[craft1948]

Get out quick............it's probably been stashed there and when the 'owners' get out of prison they'll come looking for it.

[factor-fiction]

I think you'll always worry that someone will come asking about the money.
Maybe worth checking with the police

[tamborine]

Feed them thru parking meters/supermarket DIY checkouts or put in Post Office Account. Not in bank - they inform IR of every loo roll sale.

[boxtops]

That's a thought factor - you could always report it, then with any luck if nobody comes forward, they'll give it back to you. What a dilemma!

[factor-fiction]

I'm pretty sure the Post Office have to follow money laundering regs too!

[tamborine]

Its your money as part of fixtures & fittings when you purchased.....it was insulation :)

[DTCwordfan]

They are yours - anything in the house transfers to you at the time of exchange, unless defined in your conveyancing contract, hence the importance of ensuring that your house is clear if you are selling up. This presumes that the house is yours and not rented.

[dotty.]

Is it real? Check for the Queens head watermark and the silver sliver through the note. No one (alive or incarcerated) would forget they put it there, it's well dodgy. You should contact the police, they may be able to check previous occupants in some way,

[boxtops]

That's my view too, DT - like the load of junk the previous owner left in my house, I had to dispose of it. Lofty has got the other side of the coin (so to speak).