Missing Money

American Assets Finders, Inc. specializes in locating unclaimed properties globally. Our success lies in the experience we have developed over the years in locating and reuniting unclaimed assets with their rightful owners.

The Sources of Unclaimed Money

More often than not, the owner forgets that the account exists, or moves and does not leave a forwarding address or the forwarding order expires. In some cases, the owner dies and the heirs have no knowledge of the property. Many governments in the world have unclaimed Property Laws designed to hold Unclaimed Properties belonging to individuals and organizations. For example, if you live in the United States, the State on which you reside may currently have in possession billions of dollars in Unclaimed Property. California, for instance, has more than $5.7 billion belonging to approximately 11.6 million individuals and organizations. Each State in the United States acquires unclaimed property through their own Unclaimed Property Law, which requires "holders" such as corporations, business associations, financial institutions, and insurance companies to annually report and deliver property to the Controller's Office after there has been no customer contact for three or more years.

International Unclaimed Assets

In addition, financial institutions in many countries are also required to inform their governments of any properties that have been unclaimed for years. More frequently, corporate acquisitions between international organizations result in unclaimed properties. For instance, a former employee that held X shares in company ABC leaves the company for a better opportunity. This person does not give the former employer the new address where he/she is relocating with the family. As long as the company is active, the shares will continue to be yours. Three years later, ABC company is acquired by an international organization headquartered in London, UK. Your shares now are worth a lot more, but they are not located in the States, they are now in the United Kingdom. Since the new owner cannot locate you, they are required by law to give all your assets to their local government.

Most Common Types of Unclaimed Property:

• Bank accounts and safe deposit box contents
• Stocks, mutual funds, bonds, and dividends
• Uncashed cashier's checks or money orders
• Certificates of deposit
• Matured or terminated insurance policies
• Estates
• Mineral interests and royalty payments, trust funds, and escrow accounts.

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