What happens if you buy a set that is stolen goods?

[solarii]

With money its a completely different issue. Unless the Police confiscated bundles of notes AND you can prove that its yours they'll return it to you. If the money's in the bank, missing or spent, there's nothing they can do. You'll have to sue. They can't force the culprit to withdraw money or force the bank to pay you.

As for Unseen's experience, the culprit can claim that the money's spent, which is what most of them do. You won't be able to recover a penny.

With stolen property its different. If the rightful owners can prove that the item in question was stolen, the item will be returned to THEM and not to you. You have no legal claim to it since it was never the culprit's right to sell it to you. Same with pawn shops. If you find YOUR stolen stuff there and can prove that its yours, the shop MUST return it to you. They can't say too bad its mine now. If they refuse charges can be pressed against them. As for the party who paid for stolen goods, they can sue the seller (ie the thief) to recover the money they paid.

Hope this clears things up.

 

[solarii]

Here's an excerpt from a law journal:

Stolen Property

Ownership never passes from the original owner when the property is stolen, even to an innocent purchaser. The property owner cannot lose title to, or ownership in, her property without her express consent. For example, stolen property that is sold or “fenced” to an innocent purchaser can always be recovered by the police and returned to the rightful owner.

Although cash and other negotiable instruments are personal property, the original owner can lose title to an innocent purchaser, since it is almost impossible to prove she originally owned the cash. The person who has given something in value in exchange for the stolen money, without the knowledge that it was stolen, acquires the right to the property. For example, the store that unknowingly sold a stereo to a bank robber who paid with the stolen cash is not required to give the money back.

 

[zoossh]

gd thread, esp entry by solarii. i feedback to FAQ/feedback column (can't find a link directly to mods) to ask to put this as sticky

 

[iceberg]

Here's an excerpt from a law journal:

Stolen Property

Ownership never passes from the original owner when the property is stolen, even to an innocent purchaser. The property owner cannot lose title to, or ownership in, her property without her express consent. For example, stolen property that is sold or “fenced” to an innocent purchaser can always be recovered by the police and returned to the rightful owner.

I would like to comment on this paragraph.
There is an exception to this Nemo Dat quod non habet which means "No one can give what he has not got", in this case, title to the object.

If A stole a camera and sell to retailer B, and retailer B sells to C. A cannot claim title from C.

Quote from Singapore Statute "Sale of Goods Act, Section 21(1)"
Subject to this Act, where goods are sold by a person who is not their owner, and who does not sell them under the authority or with the consent of the owner, the buyer acquires no better title to the goods than the seller had, unless the owner of the goods is by his conduct precluded from denying the seller’s authority to sell.

This is to protect the 3rd party I believe.