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Property Keyed to Chase
Benjamin v. Lindner Aviation, Inc
Citation:
534 N.W.2d 400 (Iowa 1995)Facts
In April 1992, State Central Bank became the owner of an airplane after repossessing it from a defaulting borrower. In August, the bank took the plane to Lindner Aviation for a routine annual inspection. Heath Benjamin, an employee of Lindner Aviation, performed the inspection, which required removing panels from the underside of the wings. Inside the left wing, Benjamin discovered two packets wrapped in aluminum foil containing paper currency tied with string and wrapped in handkerchiefs. The currency, predominantly twenty-dollar bills with mint dates from the 1950s, totaled over $18,000 and smelled musty. Benjamin initially took one packet to his jeep but then reported his discovery. The money was turned over to authorities, and Benjamin filed a claim as finder under Iowa’s lost property statute. After following statutory procedures and no owner coming forward within twelve months, Benjamin filed this action to establish his right to the property.
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