The only "right way" to divide treasure is in RP.
We've had Neutral or Chaotic parties: Roll for first pick. Treasure divided according to level (more levels, more treasure).
We've had Evil parties: I get to choose first, and that's that (Chaotic Evil: You have a problem with me choosing first? Meet my pet club. You'll get what I decide to give you)
We've had Lawful Good parties: First find the owner. Owner not found? Ok, who needs it most? Leftovers, we give to some Church (we called our characters Lawful-Dumb for a reason)
Our current party is Lawful Neutral, so we each get what we need most, but it still belongs to the party until the leader assigns personal items. Usually when they have proven to be very effective in the character's hand. And what the Leader giveth, the Leader can taketh away. Money belongs to the party, and we request funds when necessary for the mission.
Andargor
We've had Neutral or Chaotic parties: Roll for first pick. Treasure divided according to level (more levels, more treasure).
We've had Evil parties: I get to choose first, and that's that (Chaotic Evil: You have a problem with me choosing first? Meet my pet club. You'll get what I decide to give you)
We've had Lawful Good parties: First find the owner. Owner not found? Ok, who needs it most? Leftovers, we give to some Church (we called our characters Lawful-Dumb for a reason)
Our current party is Lawful Neutral, so we each get what we need most, but it still belongs to the party until the leader assigns personal items. Usually when they have proven to be very effective in the character's hand. And what the Leader giveth, the Leader can taketh away. Money belongs to the party, and we request funds when necessary for the mission.
Andargor
