Yes, I know the last post on this thread was in 2016! When dealing with treasure/loot/&c., it’s worth remembering that the characters in Dragon Warriors live and operate in a mostly feudal society (unless you're running a campaign in the southern lands of Legend, or somewhere off the map – e.g. Thousand Islands). This has certain implications on how they might behave.
I found the following section in one of the King Arthur Pendragon RPG books and found it covers this particular issue:
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ROYAL PERQUISITES(Perquisites – "perqs" – are the rights, payments, and other incidentals that come with an office.)
Some rights are personal to the king and are never granted to others. Money from these sources go right to the king's coffers. These include:
Treasure Trove: the king owns all buried gold treasure that is found, and half of the silver.
Wreck: the contents of all ships that wash ashore belong to the king. Whales are included in this because they are "royal beasts."
Seizure of a Felon's Goods: a convicted felon is punished personally, and everything he owns is given to the king.
Deodand: any object that causes the death of a person (a wagon, mule, pitchfork, etc.) is given to the Crown to be sold. The proceeds finance the King's Almoner, and thus benefit the poor.
This means that a local lord will ensure the king's rights are maintained, declaring any goods to the County Reeve (or "Sheriff"). Thus all treasure found on a lord's lands must be declared to the lord, who will then declare it to the king through his appointed official.
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Of these rights, Treasure Trove has the most significant impact on adventurers in Legend; as if they find treasure on a lord's land, they are obliged to declare it and hand it over. If they fail to do this, they are stealing from the lord and, ultimately, from the king (and may thus be treated as thieves).
In practice,* up to half the value of the treasure will usually be returned to the adventurers (thus encouraging honesty and the possibility of further treasure finds). Note that this does not have to happen and is generosity on the part of the king, who is well within his rights to keep all the gold (as noted above).
Some, less honest, adventurers will tend to hide some or all of any treasure they find. This is one of the many reasons why adventurers are regarded with distrust by folk living in "normal" society (and why honest adventurers may find themselves having to defend the provenance of their equipment).
Note that magical treasure (unless it is made of gold or silver) does not form part of Treasure Trove* and, while it must be declared if found on a lord's lands, remains the property of the finder. A lord seizing such treasure as his may find himself subject to a grievance…
It shouldn't take a devious individual too much thought to realise how these rights can be abused!
* These are guidelines I use to keep the game entertaining for my players. Harsher, or more lenient, GMs may come up with their own guidelines, of course.