The present invention provides a system and method for tagging Virtual Universe items as owned by a particular user and to use such tags to enable users and/or system administrators to locate lost or stolen items in a Virtual Universe. When items identified are located, the user/owners may be notified of the location or missing items; alternatively, the items may be automatically returned to the user/owners' inventories. By enabling differentiation between items that may be lost, stolen, or left intentionally in a Virtual Universe, the present invention addresses difficulties that may arise in managing the various items that populate a Virtual Universe, especially as a Virtual Universe expands or as Multiple Virtual Universes expand and partner with additional Virtual Universes.