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So you found the TREASURE - now what?
06-11-2013, 11:14 AM,
#1
So you found the TREASURE - now what?
DanS,

I concur, most definitely blaze is on site and so is treasure. Trick will be recognizing it and then pin pointing treasure.

The Wolf
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06-11-2013, 11:19 AM,
#2
So you found the TREASURE - now what?
Maybe we are supposed to keep it quiet. Donate some to a museum annonymously and send f's bracelet to him from another state?
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06-11-2013, 11:36 AM,
#3
So you found the TREASURE - now what?
Maybe so Jen but doesn't sending Forrest the bracelet mean he will disclose and start the snowball rolling? That somehow doesn't seem like keeping it quite. Also - how does sending from another state avoid the wrath of the Federal government claim if it is on Fed land?



This is a tough one!
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06-11-2013, 11:59 AM,
#4
So you found the TREASURE - now what?
Well you have to get a little CIA and not put a name on it, use gloves, a self sealing envelope etc lol!

I really have no idea, its a tough decision for sure! Unless it happens to be on land owned by ff that is given to the finder or owned by his trust or whatever....
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06-11-2013, 12:22 PM,
#5
So you found the TREASURE - now what?
I've come up with lots of ideas about all that for the fun of just thinking what it would be like..but the reality is that I'd just contact him and ask his thoughts on it and go from there. I'd like it to all be on the up and up meaning paying taxes etc. but if that plan would mean that I'd be subjected to proving where it was found and that would question title ownership...I'd keep it a secret.



If I had to keep it a secret, I'd spend it in a bartering way...sell some gold at gold shows, or trade it for work done on a property so that I could then sell the home for a profit and claim that profit. What's that called? LOL...*kidding* I know.



I think we can all have fun ideas of having that problem, but we don't know what's what at this point. So we'll have to wait and see.
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06-11-2013, 12:44 PM,
#6
So you found the TREASURE - now what?
Stephanie,

I think exactly like you. Of course one would have no issue paying the taxes. But I too found that it may come down to disclosing the location and if that is so then ownership and lawsuit flags start flying.



I too think the right thing to do is to call Forrest and <b>have him sign over title</b>. That may mean he has to pay the tax. I am not sure about what the law states here. If he gives title (gifts it to you) then I think (someone clarify here) that it is at the appraised value and he pays the tax if there is a capital gain based on the price he purchased it at (loss if it is less than purchase value).



This method solves a lot of things - you find it on Fed land you are returning it to its rightful owner (just like a lost wallet). The Feds would have to do that anyway after they claim it from you. Forrest signs over title and it is rightfully yours. Then I think you pay taxes on the capital gain (price sold - appraised value) when you sell it. I need someone to clarify this line of thinking. Thoughts?

The Wolf
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06-11-2013, 01:09 PM,
#7
So you found the TREASURE - now what?
I sort of think that Forrest has all that figured out. He said he thought of everything. Then again he's said it's the finders problem when it comes to some of it. Just makes you almost as curious about that as it does how to find it.
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06-11-2013, 01:23 PM,
#8
So you found the TREASURE - now what?
Remove, thanksSmile









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06-11-2013, 01:46 PM,
#9
So you found the TREASURE - now what?
The IRS has no claim until income is "constructively received" and is converted into "legal tender" (ie dollar bills). One can't expect to pay a $20 diner tab by plunking down a $20 double-eagle; that would be crazy, and a (foolish) waitress would probably reject it saying it's not valid money. Gold nuggets, jewelry and 150-year-old double eagles are not "legal tender".



One more problem: the treasure might become international in scope. Spain recently said a 200-year old treasure salvaged from the sea (with no financial backing from them) was theirs, and a Florida judge upheld that ruling and ordered the whole treasure shipped back to Spain. Of course, they violently plundered Peru for all that gold and silver, but that's beside the point, I guess.



F said he recovered a Spanish ring with a metal detector, so Spain's lawyer might ring your doorbell and say, "you've been served; here's an injunction blocking your right to sell that ring. It's ours." Time to hire an expensive lawyer and lose all that money you made selling the gold on the regular market.



http://www.bloomberg.com/news/2012-02-17...spain.html



Bottom line: I'd keep my mouth shut.
---
100 FURLONG CLUB
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06-11-2013, 01:48 PM,
#10
So you found the TREASURE - now what?
Rick,

You look like Indiana Jones! You have a lot of experience - I would like to hear more about your thoughts and experiences. Perhaps keeping this to one's self is the way to go. I have been leaning that way since there is too much risk in disclosing. No need to hold hands - just looking for a plan that makes sense, sometimes you have to be rational and can't have everything.



Your claims are cryptic not sure who you were referring to as a psychopath ... are you talking this chase or a previous adventure?

The Wolf
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