Larceny is a statutory crime in the United States of America. It involves the theft of another party’s property with the intention of permanently depriving aforementioned party of the property. Larceny can be a felony or a misdemeanor depending on the type of larceny committed.
Legally, larceny is defined as the taking and carrying away of another person’s tangible personal property. Such a definition provides 2 conditions before an act can be called larceny. The first act of taking must involve complete control of another person’s property. Thus, the individual taking the property must have complete and absolute physical control over it. The second act involves carrying the object away from the owner. This entails actual asportation, which means movement or carrying away, rather than preparation for asportation. Thus, a person committing the act of larceny must fulfill both conditions with the intention of permanently withholding the personal property of another.
Larceny is classified into petty larceny and grand larceny, with the classification based on the value of the property that was stolen. Grand larceny is considered to be a felony, and is also called felonious larceny. Grand larceny occurs when the property stolen has a value of $250 or more. However, this definition applies to most states but not to all. New York defines grand larceny as theft of property with a value of $1000 or more. This classification of larceny is no longer used in most states, as most prefer to use the term larceny in general and classify it according to felony and misdemeanor based on the value of the property stolen.