I found a Iphone 5, What are the steps to making it mine?

I never had a phone and I really need one, if one of you guys can show me how to make this lost iphone 5 mines, completely, then I will greatly appreciate it.

If you can't find the owner and want to use it for yourself you can try to plug it into your computer, open itunes and do a factory restore on it. That should erase the data or any password locking it.

There's no process to make it legally yours…

Try and track the owner. Somebody could really need that phone, and it could hold very important information belonging to them. The police should be able to help. Usually, if the owner can't be tracked, you will be allowed to keep the phone.

If the iphone is unlocked, you need to use the new iphone 5 charge and sync cable to plug it up to your computer. ON your computer, download iTunes(its free). When itunes comes up, it will show that you have a device plugged up into your computer. On itunes, you need to click on that icon which will be a picture of the phone and clcik reset. Which should be somewhere towards the bottom of the screen. After that, it will be just as if you had store bought it. You will want to set p an apple id for your phone and apple account then you can purchase apps and music via itunes and app store. Hope this helped.

Once reported lost or stolen, it will be blacklisted making it useless as a phone.
you can use as a ipod touch but you can't use data or Wi-Fi cuz it can get tracked thru ip address.
if you need a new iphone 5, email me i have a few for sale or trade.

They can be tracked & locked.

Restore it and make sure you have deleted everything. But you can still be caught from IMEI number so be careful.

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