The
History of Unclaimed Property:
The origin of the
unclaimed property law dates back as far as the colonization of America. Since that time,
states have revised and refined their various unclaimed property laws, resulting in over $35 billion in collections; currently held for the
benefit of owners whose whereabouts are at least temporarily unknown.
The custodial nature of
the unclaimed property law obliges each state to maintain unclaimed funds and related
owner information for claim by the rightful owner. All states make a diligent effort to
locate and refund these funds to the rightful owner, at no cost to the owner.
NOTE:
Claimants are encouraged to contact and work with state or federal agencies as claims
processing is a FREE public service to the owner. Likewise, our site is
totally FREE; providing you first with a centralized unclaimed property
search tool then the appropriate state and/or federal agency contacts for you to file your
claim.
CAUTION:
Private recovery agencies, tracers and other third party companies may offer assistance in
reuniting you with your lost or abandoned property. Do your homework, understand your
potential costs and options before you choose to use any of these companies. Look for
upfront or hidden costs such as access or search results fees which may
range from $10 to $20 per search or contingency fees from recovery agents or tracers which
may cost you 10-50% of your money.
 Return to FAQ's page
|
