Grand larceny is a legal term used to describe the theft of property or money that exceeds a certain value, which varies by jurisdiction. Typically, this value is set at a threshold, often around $1,000 or more. Unlike petty theft, which involves lower-value items, grand larceny is considered a more serious crime and can result in significant legal penalties, including imprisonment. In many places, grand larceny is classified as a felony, meaning it carries harsher consequences than misdemeanors. The crime can involve various forms of theft, such as stealing $vehicles, $jewelry, or $electronics. Convictions can lead to fines, restitution, and a criminal record, impacting a person's future opportunities.