Unclaimed Property - A Government Scam?

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Every state has an unclaimed property department of some sort. This is where uncashed checks, forgotten bank accounts and other "abandoned" monies go. The idea is simple enough; if money or other things of value are not claimed, they are turned over to the state government for protection. The government then is supposed to make an attempt to find the rightful owner and return the property to that person (or their heirs).

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It seems, however, that governments don't try very hard to find the owners. Some quick research online, for example, showed me that Oklahoma's unclaimed property program has been around for more than 30 years, collected more than 0 million in unclaimed property and paid out only million, leaving around million (plus interest) for the state to spend. Yes you read that last part correctly. They get to spend the excess.

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This is why many states are hiring auditors to check the records of insurance companies, banks and other organizations. In fact, some are even paying the auditors a percentage of the monies collected in order to boost collections. This has become a new revenue source in times of declining tax revenue.

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Of course, they're supposed to make an attempt to return the money or valuables, so what do they do to find the owners? Some publish a notice in a newspaper, and most now have a list of assets and names of owners online. I personally know of a case where a woman searched the records online and found an insurance refund of almost a thousand dollars that had "escheated" (the technical term) to the state. She only got her money because someone saw her name on the online records of which she was unaware.

This woman was still living in the same state as when she had the old account, and a quick internet search would have yielded a phone number. She was never called, of course. It seems that most states do nothing more than post online the name on the account that was turned over, along with the amount. Why would they do more, since most state laws allow them to spend the money that is not claimed?

Unclaimed Doesn't Mean What You Think

Before you start thinking this whole topic is irrelevant to you, we need to ask what the definition of unclaimed is. Do you have a bank account somewhere that you haven't used for a couple years? They may be taking it soon. Did you check to see if you had a refund due on your mortgage insurance after paying the loan off early? They tend not to tell you, and eventually that too goes to the state.

What else? Stock accounts, utility company refunds and returned dividend checks can all escheat to the state after some time. In fact, some states will even take the contents of safe deposit boxes if you have not accessed them in a while. This is because of state statutes that define this as a "presumption of abandonment."

As I write this, I have an old savings account at a credit union in another state that has not been active for at least three years. It has just a hundred dollars or so in it, left there so I can keep the great credit card that this credit union offers to members. Since this may be considered "abandonment" (a rule of three-to-five years is common), I should probably send a dollar in for deposit.

The rules are different in each state, but if you want to keep the states hands off your money, here are some tips:

- If you have any accounts that give you online access, login at least once a year.

- For bank accounts, make a deposit or withdrawal (any amount) at least once per year.

- Don't keep uncashed checks around; deposit them or cash them.

- Keep a list of all accounts, including banks, insurance policies, utility deposits, brokerage accounts, and retirement accounts. Let someone you trust know where the list is, so in case of your death, those you love (and not the state) will be able to get at your assets.

- Visit safe deposit boxes once a year minimum.

- Make sure every account holder gets your new address when you move.

According to a recent article from ING Bank, as of May 2008, the fifty states in the United States are holding more than billion worth of unclaimed property. They are quickly working to collect more, and paying as much as a 15% bounty to auditors who find "abandoned" valuables. Given the minimal effort to locate the rightful owners, it seems that a law intended to protect consumers is helping governments take advantage of them instead.

Unclaimed Property - A Government Scam?

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Property Tax Overages - Find Records, Find Owners, Make Huge Finder's Fees

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If you're already in the "found money" business or if you're just looking to start a lucrative home-based business, you need to look at collecting property tax overages. They're being created left and right with the sky-high foreclosure rates, and their clueless owners truly need money finders to make sure their money doesn't escheat to the government.

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First, what exactly are property tax overages? Property tax overages are the funds that are created when more is bid at tax sale auction than is owed in delinquent back taxes. That overage is held for the owner in many cases, but frequently the owners don't know this or have moved on and their money never gets returned to them. Also this is often an inheritance/heir situation, which leaves them even more in the dark about the funds.

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There are currently not many money finders working property tax overages. They aren't well-advertised and they can be tricky to get ahold of. However, due to a loophole, these real estate overages are not subject to state finder's fee caps, and thus provide a huge opportunity for income for those lucky enough to be clued in to their existence. It's legal to charge 30-50%, or more, depending on the case. And believe it or not, the claimants are happy to pay it. They usually have no idea where the money you have information on is derived from, and are excited at the prospect of an unexpected windfall.

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If they don't claim their money in time, it's lost permanently to the government. There are billions of dollars in property tax overages, as well as other types of overages, just sitting in government bank accounts, with the clock ticking down to the time they'll be lost. Now is a great time to break into the field. With property tax overages running into the tens of thousands of dollars, if you work hard at it, 5-figure paychecks are right around the corner.

Property Tax Overages - Find Records, Find Owners, Make Huge Finder's Fees

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How to Claim Lost Property

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Most of us think that requests for the lost property office is not the majority. The reality reveals the shared vision of the complaint process. Almost 80% of us have left the money and property at some point and failed to reclaim it. Over time, the desire of our property loss claim fades and slowly goes down the list of our priorities. But that does not need their hard earned money or property?

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Most federal and provincial governments are aware of the extent of ownership of the unclaimed money. They have laws and regulations of public interest that the process of identification and recovery of lost or unclaimed property created to accelerate. Most of the search for lost items can be conveniently done online from home. Online search forms to facilitate the citizen formally request the claim of lost property.

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What will the federal government for me?

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The federal government will ensure that your loss or>unclaimed cash or property is secure and it can be retrieved through a proper channel and through a prescribed process. Contrary to the notion, federal government will not find the money for you, although it provides you with all the tools and databases of unclaimed and lost property to make the search on your own. In addition, every state manages its own database of unclaimed property and has its own rules for claiming the lost property or money. Apart from the federal and state agencies and there are some good reputation and reliability of private companies to claim your lost items.

How can I do?

In this era of Internet penetration has obscured some of the information available on the Internet, but only if you know where to find them and knew. So if you have lost money or property unclaimed, would be the first to go online and search for unclaimed or'lost property' databases in your state - or to be more precise, the state where you presumably lost your property. The following practical steps would go a long way towards the planning for the 'claim of your lost property'

• Make a list of the states where you have lived
• Make a list of the organizations where you have worked in the past
• A list of banks where you had your account will also help in the process
• Identify the most reliable databases for unclaimed property or money
• Identify any reliable agency which has a good reputation

Once you have performed the above actions, it is time to find your lost property. You can start by entering your personal and professional details in each of the above databases and organize the results (with contact details of the authorities). In addition to the personal investigation, you can also seek the help of professional search agencies which have very nominal fees. At the end of the above process, it is time to make personal contact with the authorities who are in charge of your lost money. You are almost there!

How to Claim Lost Property

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As for the workshop fee of unclaimed property

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In a recession, would not have believed that the amount of unclaimed property is increasing. After all, people do not keep a better overview of their money now? The surprising answer is that most of the unclaimed property resulting from foreclosures. So it's just the opposite - there is still the most unclaimed money there now than ever. Here is how to charge a finder is free for unclaimed property.

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Originally organized by CaptainProperty> Unclaimed. State code finder fees often sets limits for these funds. County instead of money, on the other hand, is almost always under state law - that is, you can ask for what you want as a finder fee (within reason). You are not limited to 5-10%, as at the state average.

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Second, find the records of unclaimed money. As you go to the county level, instead of money, which will be located at the offices of the district. What job is, is theState, but usually the treasurer or the clerk of the Court is a good start.

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Third, identify the owners of unclaimed funds. With all the options available to you is now online, this part is always easier. With the growing popularity of Facebook, almost everyone has found a way these days can be.

Fourth, explain the situation of the funds you have discovered, and accept his placement fee is first to reveal the sourcefunds. People who work for the company full-time charge of up to 40% depending on the complexity of the medium is always free.

Once you have signed a contract, you can help owners get their funds released. If the money is released, you can earn your commission.

This is a fairly simple process, and the creation of unclaimed property that exists in today's economy, now is a golden opportunity to make money in your company's viewfinder!

As for the workshop fee of unclaimed property

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The Americans asked the national research unclaimed property

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As economic experts expected that the recession is here again and threatens to cover the entire American continent at risk in the current of the opposite coast. Mass layoffs that began in Detroit at the beginning of the energy crisis have been distributed to other states and countless Americans lead the slider in order to survive. Everywhere there are signs that the financial morass of East and West met as a Category 5 hurricane horses can beloose in the desert, their owners unable to afford the rising costs of food, animal shelters are overcrowded that people are losing their homes, shocking, even children get the "safe haven laws", the parents leave action to protect if they leave their babies in hospitals. In fact, many citizens are in trouble and struggling to find every possible source of more money and few people are aware that an online search of state claimed Property Searchit can bind with some.

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Unknown to most, there is a law that requires businesses and financial institutions to deliver financial assets of people who do not know or have forgotten. National Unclaimed Property Act differs slightly depending on the state, but there are essentially Treasury Department the power to each of U.S. financial assets "abandoned" as a gathering every year.

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The National Association of UnclaimedProperty Management (NAUP) declared unclaimed property:
"Abandoned Property (sometimes referred to as abandoned) refers to accounts of financial institutions and companies which had produced no activity or contact with the owner for a year or more. Common forms include not ask for the savings and checking accounts, stocks, dividends and salaries and allowances, refunds, travelers' checks, trust distributions, unredeemed money ordersgift certificates, or (in some states), insurance payments or refunds and life insurance, annuities, certificates of deposit, overpayments to customers, security deposits for utilities, mining royalties payments, and the contents of safes. "

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The total amount of unclaimed money from financial assets that Americans across the country have lost just over $ 30 billion, and since only a small percentage of the population due to an unclaimedRealty real estate search online, this number is definitely higher. New York and California have the highest amount of state claimed ownership of $ 8000000000 $ 5000000000, and, respectively. Of course, given the census and the rapidity of people living in these states.

Unclaimed tax refunds or stimulus checks are a large part of the national pile of unclaimed property. Many people, unaware that they qualify for the $ 600 stimulus checksThe government has failed to file handed to them. The IRS is also no e-mails, hundreds of thousands of tax refunds due to bad addresses or marriage (name change). Approximately 383,000 of the controls is $ 266 million recovered could reach their intended recipients due to errors in the address. A quarter of a million young married women were also denied a lot of money necessary stimulus because of their new names and Social Security number do not match.

There are many otherSources state unclaimed funds, and it is ironic that in these times of economic crisis, people do not have the money you could get through an online search for unclaimed property.

The Americans asked the national research unclaimed property

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Abandonment of unclaimed property - find and collect a finder fee of Figure Five

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Never heard of unclaimed or abandoned? This is money or property held in possession of a governmental entity, owned by a business process, or an ordinary citizen like you. It can be said abandoned properties have seen sites where you can enter your name and see if you miss an account or a deposit to use old, who has done more for the government. It is claimed abandoned property - abandoned, but not collectedThe property can also (and often) the amounts of money in the tens of thousands of dollars.

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Unfortunately for the legitimate receiver, if you do not stray too long, these funds will be lost permanently in place, or the state government. This is where you get to - to find the funds to find their owners, and charge a commission heavy for your service.

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"How?" You might ask. "There is no limit to the percentage of the money-finder canresponsible for supporting the capacity of state funds unclaimed? "The answer is yes, most states limit collection fees 5-15% in these laws are almost all in recent years, money that has left many in the Finder, greener ( read: lucrative) .. It 'unfortunate willow, there are a lot of money ... just pay commissions, you will lose money from those who are governed. finder laws.

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This is alittle known vulnerabilities Finder money in real estate to deliver the punch of money. excess sales tax, the excess of a foreclosure, and many other funds outside the state division of unclaimed funds are not held subject to tax these limits of the finder. In fact, they are not all caps, the rules means that you can legally and ethically responsible for 30-50% or more, depending on the complexity of the case.

Given that these surpluses are created in aalmost alarming rate the number of foreclosures that explode in the current economy, money-Finder demand greater than ever. Rangefinder without money, this product might sit, unclaimed, dormant until the government - usually within just five years. The owner of the cash surplus needed money Finder to locate and alert the presence of their agents - and are willing to part with 30-50% for their services.

Abandonment of unclaimed property - find and collect a finder fee of Figure Five

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What is unclaimed property?

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There's this concept is always "unclaimed property" to listen to. But what's missing property? Do you know how likely you are due unclaimed money? How did you find out if you qualify? In this article you will learn all the unclaimed property, and how to find and claim your funds lost to know!

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The unclaimed money is not a property that can be:

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-If the owners abandoned

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-The owner has not contacted theInstitution or company that owns the
O

-The Company believes that the owner can not contact information for the old and bad

Unclaimed Property can be many things:

Real estate, like the contents of the safe
Bank accounts to checking accounts or savings
IRS tax refund checks
Payroll
Stocks, bonds and dividends
Succession and Trusts
Utility deposits

There are different types of goods,are "unclaimed cash."

Unclaimed assets is also known as:
Unclaimed money
Unclaimed Funds
Unclaimed assets
Lost money
Free Money
The money found
And many other concepts ....

The total number of lost items is out of billions every year and now has increased to $ 40 billion. This property is abandoned millions and millions of Americans every reason Countries.

Unclaimed assets can be carried out a search for unclaimed money in a database. The search is easy, simply enter your name in the search field and click Search!

You must use a couple of options for the database to search:

1 - A single database state.
This is a database state. The problem is only after the money of a State, and it is very likely thatMen> A lot of cash is established in a country other than current residence.

2 - A "multi-state database"
This is a database funded by the government, which in some states. But it is a site sponsored by the government that money is not all 50 states, to mention the federal database.

3 - An "all-in-one" database

This is looking the best option to keep your unclaimed money. It has all the money in a database of all 50 states and federal databases. Normally, while offering a free search site, so you need some money before accessing the database.

These sites also offer advanced search capabilities, are looking for variations of your name. Often the accounts of unclaimed money are under some sort of legal change in the common name registered. Name and surname initial or nickname, etc.

These sites also provide application forms, claims, you need to find> Money and instructions for submitting your application.

The research is to identify the accounts presented as a result of an owner of unclaimed property in your name. You can then see if the account you want to see:

1) If an account that you remember with the agency or company who has given the money (for example, the gas company in California awarded $ 250 deposit is required) was

2) If the address is the story of a past or presentMailing address

3) If any of the information contained in the account match your information.

After finding the accounts of unclaimed property must identify what you need to do is print a claim and submit them to provide proof of identification. Proof of identification is usually copies of driver's license or identification card issued and the status of a birth certificate or social security card.

The application review process takes anywhere 2-16 weeks, depending onState or an agency, you are going to make the request. The majority of agencies provide online updates on your complaint.

Claims are usually processed within 2-6 weeks.

If you call a problem of contact with your request and ask to speak with the division of unclaimed property.

Now, that's all you know about unclaimed property armed. To go and claim yours today!

What is unclaimed property?

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Unclaimed Money Texas - 200,000 lost money and property at stake for Texans

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It is said that everything is great in the Lone Star State of Texas money in the long horned cattle, boots, cowboy, prairie, steaks, cars, and a lot of money. It is latent. Comptroller Carole Keeton Strayhorn Texas nearly $ 2000000000 dollars in unclaimed money to give their state of its inhabitants. Well, not so much to give to-back lost money since it was already starting a. The funny thing is that most of the 200,000 people who are Texas > Many features men do not even know the money coming to them.

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People tend to forget to collect a salary or insurance checks when other jobs or move to a new home. They also forget to leave behind when you move and redirect this is a major cause of lost checks. Find the financial and commercial institutions can not, the owners of property lost by 5 years (in Texas), they turn to the state, as dictated by the Texas> Law of unclaimed assets, follows the laws of the country lapsed. Unclaimed funds stay with the Texas State Comptroller's office until their owners come to claim.

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Unclaimed property in different bank accounts forgotten Texas, savings accounts, stocks and cash dividends, insurance benefits and money orders unclaimed gift certificates, checks not cashed, and the contents of safe deposit boxes that were considered abandoned by their owners.This is the only example of property in accordance with Texas law and unclaimed property. Are auctioned-off after 2 years of Dbayeh transferred to the office of State Comptroller So if you are family heirlooms or d 'who are looking for antiques that have lost loved ones in Texas during the year, it is best to consult on eBay.

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George Tamayo, manager of the division of unclaimed funds in Texas said: "In our experience, we decided that we were always betterour money on eBay. "To which he adds:" 'cheaper, because we are in the same position of the rods. "His condition was one of the first to use the auction site on the Internet in early 2002 by the traditional method of getting rid of abandoned property through online auctions. According to Jackie Schroeter, Director for Texas safe, save the publication on eBay His office hours and effort. With live auctions, the unclaimed property office would be closedDown to coordinate because of lack of manpower. It only takes a few clicks of the mouse now.

The proceeds from these auctions go to the bottom of unclaimed property in Texas, where it can still be claimed by their rightful owners at any time. "The unclaimed property list contains the names of the Texans to have $ 100 or more, the state was reported last year, for a value." Comptroller Carole Keeton Strayhorn said in Texas, announced in arecent report: "Since taking office, I returned more than $ 532 million in unclaimed property to its original owners"

This is good news indeed for residents of the Lone Star State, but I do not think the controller is to reach the front door and deliver bleeds for you. If you do not need immediate cash in your pocket, you should look for unclaimed money in Texas and other states now!

Unclaimed Money Texas - 200,000 lost money and property at stake for Texans

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