Normally, state laws will differentiate between the two types of larceny: grand larceny and petty larceny. The most distinct difference between the two legally is the overall value of the property that has been stolen. Specifically, for a theft to be considered grand larceny, the value of the property stolen must exceed a set dollar amount predetermined by the state legislature. Although this distinction used to be a widespread legislative practice, many local laws today no longer recognize a difference between petty theft and grand larceny. However, many new laws contain different degrees of penalties based on the total overall property value that has been stolen.
It is often the case where the total value of the stolen property and determining what that dollar amount actually is can be a very critical component to any theft case. In order for the prosecution to charge and convict the defending party with grand theft, it must be determined that the stolen property does indeed exceed the minimum amount required. Normally, the property’s highest reasonable value, retail value, and fair market value are the most commonly used methods when determining the total dollar value of the theft.
Types of Property
Another requirement for a theft to be considered grand larceny is the specific type of property that has been stolen regardless of its monetary worth. Many of these specific items and the laws that determine their degree of penalty, can vary drastically from state to state. The most common items that fill this requirement include domestic farm animals, cars, and firearms or other weapons.
Degrees of Theft
It is very common for local and New Jersey laws to differentiate between the specific degrees of severity of grand larceny. Normally, when this is the case, a higher degree will represent a more severe theft, which calls for more severe penalties to go along with it. States may determine that theft in the first degree can be considered grand theft if the total dollar value of stolen property exceeds $100,000. Additionally, second-degree theft would, therefore, be a less severe crime and may call for less severe penalties due to this lesser status. Many times, it is the case that second-degree grand theft will range from between $50,000 to $100,000 worth of total stolen property. Increasingly less severe, third-degree grand theft can range from $500 to the second-degree grand theft minimum of $50,000.
Consult an Atlantic City, NJ Criminal Defense Attorney Today
If a person is charged with grand theft, it can have many implications on their life that could be long-lasting. Regardless of a person’s prior legal troubles, grand theft is a major crime and requires an experienced attorney to navigate the intricacies of the law in order to receive the best possible outcome for their client. John W. Tumelty, an experienced Atlantic City, New Jersey attorney is more familiar with the local laws and will get started on your case immediately in order to get you the best possible outcome.
The articles on this blog are for informative purposes only and are no substitute for legal advice or an attorney-client relationship. If you are seeking legal advice, please contact our law firm directly.