- Real Estate
Abandoned Property unclaimed funds
Money to be made!!! by anyone
There is money to be made in abandoned property and unclaimed funds..Most states have a fund where monies are kept for a period of time if no beneficiary to the funds comes forward the state gets to keep it.(escheated funds)
Most states will allow you to charge 20% of the total of the abandoned funds or worth of property for collecting the funds on behalf of the heir..
Rest assured there are stringent laws and a certain order documents must be filed,and a time frame these chain of events must occur..
Most real estate attorneys can and will advise you on the steps and sequence the matter must be addressed so as not to lose the funds as time is of the essence..
Most states have mega bucks in this fund if not more..
Also the tax roll is public information if a property has been sold for delinquent taxes the overage from the sale (any monies over the tax debt) must be kept in a fund for a period of time, so the heirs, owners or concerned parties may claim it..if not the state gets to keep it..
A lot of people make a living collecting overages for a percentage there of , this also requires a certain time frame and a sequence that events and or any and all documents must be filed, processed and the like..
All of this information may be found on our worldwide web..with that information at hand a little Title Abstraction knowledge, Perhaps advise from a real estate attorney one could find themselves a decent living..Most states have this information available to the public at the office of unclaimed funds.
Amazon.com has many books on this subject and it is in truth how my husband and I got started, by purchasing from Books A Million,and the Local library was a valuable source for research at times.
One could also find themselves fined and or charged with fraud if the guidelines for handling these matters are not adhered to...
Legislature made it illegal for finders to charge more than 20 percent of the proceeds ,this may or may not vary from state to state..there again the world wide web will answer this..
If one has real estate knowledge or the ability and for withal to learn such, that knowledge and diligence could well pay off for you as a finder of unclaimed or abandoned property and or overage funds for individuals..
Just do your homework for the state..
with the economy like it is we are having to become very resourceful in the opportunity to maintain ones livelihood..
this is just a thought...and merely a planting of a seed on my behalf...