[Happinow]

Here's how it works where I live. First, you can't buy from anyone under the age of 18. ID must be taken from each person they buy from. The pawn shop has a legal obligation to hold all items for 5 days. After that they may do what they want with the item. If an item is stolen and it's within the 5 day hold periods, the pawn shop has to give it back. They may ask to be paid back for the item they bought. If the pawn shop paid 100.00, they get 100.00 back. If it's after 5 days and they come back to recover an item, it's legally too late to get it and the pawn shop does not have to relinquish it.

Now, all of this is contingent upon the pawn shop actually taking ID from everyone. Not all follow the law, so no paperwork, nothing bought. Some of the dealers here are slippery as snakes and take no ID because they buy stolen items from underage people. Also, In NYS pawning an item is illegal. A special license is required because you are charging interest. Most shops here are not pawn shops. They just buy to own. At a pawn shop you buy with the intention of the seller returning to buy it back within a certain amount of time.