Source : Webster's Revised Unabridged Dictionary (1913)

Theft \Theft\, n. [OE. thefte, AS. [thorn]i['e]f[eth]e,
   [thorn][=y]f[eth]e, [thorn]e['o]f[eth]e. See {Thief}.]
   1. (Law) The act of stealing; specifically, the felonious
      taking and removing of personal property, with an intent
      to deprive the rightful owner of the same; larceny.

   Note: To constitute theft there must be a taking without the
         owner's consent, and it must be unlawful or felonious;
         every part of the property stolen must be removed,
         however slightly, from its former position; and it must
         be, at least momentarily, in the complete possession of
         the thief. See {Larceny}, and the Note under {Robbery}.

   2. The thing stolen. [R.]

            If the theft be certainly found in his hand alive, .
            . . he shall restore double.          --Ex. xxii. 4.

Source : WordNet®

theft
     n : the act of taking something from someone unlawfully; "the
         thieving is awful at Kennedy International" [syn: {larceny},
          {thievery}, {thieving}, {stealing}]