Legal Definitions - grand larceny

Grand larceny is a legal term for a serious form of theft, specifically involving the unlawful taking of property that exceeds a certain monetary value established by state law. It is distinguished from "petit larceny" (or "petty larceny"), which involves property valued below this statutory threshold.

Because of the higher value of the stolen goods, grand larceny is typically classified as a felony, carrying more severe penalties such as longer prison sentences and larger fines, compared to the misdemeanor status usually associated with petit larceny. The precise monetary value that differentiates grand larceny from petit larceny varies significantly among states, often ranging from a few hundred dollars to over a thousand dollars.

Here are some examples illustrating grand larceny:

• Example 1: A person enters a high-end boutique and steals a designer handbag valued at $1,800. If the state where this occurred has a grand larceny threshold set at $1,000, then the theft of the handbag would be classified as grand larceny. The value of the stolen item ($1,800) significantly exceeds the state's legal minimum for this felony offense.

• Example 2: An individual breaks into a parked truck and takes a collection of power tools, which are later appraised at a total value of $2,500. Assuming the local jurisdiction's grand larceny threshold is $750, this act would be considered grand larceny. The combined value of the stolen tools far surpasses the amount required to elevate the theft to a felony charge.

• Example 3: A former employee uses their old access codes to enter their previous workplace after hours and steals computer equipment, including several monitors and a server, with a total replacement cost of $5,000. In nearly all states, the value of this stolen equipment would easily exceed the grand larceny threshold, making the act a felony offense due to the substantial monetary loss incurred by the business.