If You Can’t Prove it’s Yours, It’s Theirs
Clearing hurdles to collecting unclaimed money in Florida
Claimants of unclaimed cash have trouble proving residency
Florida owners of unclaimed assets held at the state may experience difficulties making claim to their share of $1 billion in unclaimed property and cash being held by the state of Florida Bureau of Unclaimed Property. Read the Full Article.
'Unclaimed Property’ Fattens Public Coffers
States Scooping Up Assets From Millions of Americans
State governments are enacting legislation designed to keep the rightful owners of property from claiming it. Many states have passed laws making it easier for “dormant” accounts to flow directly to the state. These same states are paying auditing firms to seek out “unclaimed” property at banks, life insurance companies, and other financial institutions. In some states, nearly one third of all unclaimed accounts have incorrect or omitted account owner information, making it all but impossible to locate the rightful owners of the property. Read the Full Article.
All States Are Not Created Equal
What Do Jolie and Giuliani Have in Common? Unclaimed Funds
While some states are making a reasonable effort to locate the rightful heirs of unclaimed funds, many states are using the unclaimed property system as a “money grab". Read the Full Article.
How to claim unclaimed money without getting scammed
While the state may tell you it's easy to claim your property, the process can be quite difficult. Read the Full Article.
States’ Making Good on their Promise?
Cashing in on unclaimed property
Billions of dollars in unclaimed property is held in state controllers' and the U.S. Treasury's coffers. This article offers a version of what the states are doing to return assets to rightful owners. Read the Full Article.
State Governments Spend Money that isn’t theirs
Five seriously austere measures that aren’t in the Drummond report
“All U.S. states have unclaimed-property laws that require banks and companies to hand over to the state any dormant asset they’re left with–the idea being that public authorities will do a better of job of tracking down owners and reuniting them with their forgotten property. That’s the theory, anyhow.” Read the Full Article.
Tracking Down Unclaimed Property
“New York has passed new legislation in 2011 whereby, they have reduced various dormancy periods for unclaimed property, adding millions of dollars to State General Funds…” Read the Full Article.
Unclaimed Money: $6.1 Million Payout in Missouri Could be Largest in U.S. History
“The states estimate that one in every 10 people has unclaimed money waiting for them. Sometimes the amounts can be eye-popping. In dusty warehouses in states all across the country lie records detailing $32 billion worth of unclaimed money, just waiting for its rightful owners.” Read the Full Article.