The phone in question has been mislaid and anyone who finds it has a duty to deliver it to the owner of the bench for
safekeeping pending the true owner's return: if the owner does not return within a reasonable time the phone becomes the property of the bench owner (e.g. the city that owns the park).
At the same time, the funds to be paid for the life insurance policy are given to an escrow agent for
safekeeping pending the actual transfer of the policy's ownership to the life settlement provider.