About Unclaimed Property
What is Unclaimed Property
Property held by financial institutions and companies becomes unclaimed or abandoned after a designated period of time with no activity or contact with the owner. Each state has enacted their own regulations regarding this period of time, known as the dormancy period. Following the dormancy period, the law requires unclaimed property to be turned over to the state for safe keeping until it’s claimed by its owner or heir.
Each state manages its unclaimed property in a designated state agency by its unclaimed property administrators. State unclaimed property administrators provide a free but limited service to return unclaimed property typically at no cost. These services provide limited support, as administrators cannot assist with managing the overall process, legal recommendations, certified records, lost documents and instruments, inheritance searches, filing fees with the court, etc. In addition, claims often involve unique circumstances and complex issues that require expertise to ensure a claims success.
When professionals are not involved, more than two-thirds of all claims are declined or claims remain unfiled. Our personalized services are designed to make the entire claim process as efficient and convenient as possible.
Why Do Claims Fail
The reasons why millions of claims fail each year include: a lack of understanding of the claim process and applicable state requirements; failure to provide proper documentation and evidence; filing errors; claim administrator clerical errors or their failure to apply complex laws and statutes; and a lack of understanding of the appeals process.
Types of Unclaimed Property
Unclaimed property refers to any type of unclaimed money, property, or assets. Several of the 170+ unclaimed property types include :
Inheritance funds
Inheritance property, artwork, valuables
Safety deposit box contents
Trust distributions
Stocks, bonds, mutual funds, warrants
Individual Retirement Account (IRA)
Life insurance policies
Annuities
Inheritances
Royalties
Pension and retirement funds
Court settlements
Endowments
Equity Payments
Checking and savings accounts
Uncashed checks
Uncashed dividends
Uncashed payroll or commsions
Insurance payments or refunds
Various refunds or rebates
Certificates of deposit
Utility security deposits
Customer overpayments
Mineral royalty payments
Property foreclosure proceeds
Escrow deposits
Traveler’s checks
Money orders or gift certificates
Laws and Regulations
State Law & Regulations: Asset Retrievers operates under the authority of the California Unclaimed Property Law for abandoned property as provided in the Code of Civil Procedure (CCP), Sections 1500-1582, and also in the California Code of Regulations, Administrative Code, Title 2, Division 2, Chapter 2, Subchapter 8, Articles 1-5
Fees and Costs
State Regulated Fees & Costs:
Our standard fee is ten percent (10%) of the total claim amount. There are no upfront charges or fees. Under California state law, unclaimed property investigators are prohibited from charging fees greater than ten percent (10%) of any abandoned property recovered with the exception of county probated estate claims. Service fees are fully contingent upon our success in recovering your unclaimed assets.
There is no cost to you if your claim is not successful.