A person commits the criminal offense of receiving stolen property if the person buys or receives any property knowing that it has been stolen. Laws regarding receiving stolen property vary from state to state and some states also make it a crime to receive property obtained by extortion, or to conceal, sell, withhold, or aid in concealing, selling, or withholding any property from the owner, knowing the property was stolen or obtained by extortion, for example.

The criminal offense of receiving stolen property may be charged as a misdemeanor or as a felony in many states (a wobbler offense)—usually depending on the value of the stolen property.

Laws regarding receiving stolen property are generally located in a state’s statutes—often in the penal or criminal code.

In New York, the crime of receiving stolen property is codified under Penal Law Article 165 as 'Criminal possession of stolen property.' A person is guilty of this offense if they knowingly possess stolen property, with the intent to benefit themselves or someone other than the owner or to impede the recovery by the owner. The degree of the charge, whether misdemeanor or felony, depends on the value of the property. For property valued at $1,000 or less, it is considered a misdemeanor (petit larceny). The offense becomes a felony (grand larceny) when the value exceeds $1,000, with increasing severity of charges for higher value thresholds. New York law also addresses the possession of stolen property obtained by extortion. The state's penal code provides a detailed framework for the classification and punishment of this crime, reflecting the seriousness of the offense based on the value of the property involved.