What is the distinguishing factor between larceny by trick and false pretenses?

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The key idea is whether the deception transfers possession or title of the property. In larceny by trick, the owner parts with possession due to the deceit, but title remains with the owner. The thief ends up with physical control of the property, yet the owner still owns it. In false pretenses, the deceit leads the owner to transfer title to the thief, so the thief gains ownership rather than merely possession. So, the distinguishing factor is possession versus title transfer: larceny by trick grabs possession; false pretenses transfers title. Both require intent to permanently deprive, but that difference in what passes with the misrepresentation is what separates the two.