Larceny is a legal term that refers to the unlawful taking of someone else's property with the intent to permanently deprive the owner of it. This crime can involve various types of property, including money, goods, or personal belongings. Larceny is considered a theft offense and can vary in severity based on the value of the stolen items. In many jurisdictions, larceny is classified into different degrees, such as petty larceny and grand larceny. Petty larceny typically involves items of low value, while grand larceny involves more valuable property. Penalties for larceny can include fines, restitution, and imprisonment, depending on the circumstances.