Quora Answer: Is Your Friend’s Money Deposited into Your Account Yours?

The following is my answer to a Quora question: “If someone has a friend of theirs deposit money in your account so you can hold it for them, is the money technically yours?”

Ownership and possession are not the same thing, and the law distinguishes between them.  You have possession of the money, but you do not have ownership.  Should you refuse to return it, and it can be proven that ownership is not yours, then you are guilty of theft, or a related charge, depending on where you are, and how the attorney-general decides to proceed.