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Jazz Bass Custody Battle

Its a done deal guys.I sent him the money for the bass.I am now the rightful owner with a good conscious.Thx again everybody!

Settling up like that was surely the right thing to do. For reference, the legal principle at stake is apparently called "adverse possession," when a person takes possession of property abandoned or neglected by the original owner. It mostly applies in real estate (squatters' rights) where if the person possesses and uses the property for a certain period of time AND their possession is not challenged by the original owner, they have a legal claim to be the new owner without needing to pay for it. How long of a period and the details vary from jurisdiction to jurisdiction, and according to the Wikipedia page (the extent of my "research") when it's "chattel" rather than "real" property (i.e. stuff that's movable vs. land) the law leans more toward the original possessor. The bottom line being, if it had come to a legal decision, you MIGHT have had a valid claim to the bass depending on where you live - or you might not. Better to do what you did and settle up to everyone's satisfaction.
 

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