Our expertise lies in tracking out and reclaiming unclaimed assets for people or organizations who are legally entitled to money. The entire cost of the collection procedure is borne by us. When an owner or successor does not convey their interest in an unclaimed asset over a number of years, known as the dormant period, the asset is considered abandoned by the law. Through a legal procedure known as "escheat," the government obtains control of billions of dollars' worth of misplaced cash and unclaimed property every year. There are certain exceptions, but generally speaking, unclaimed money can be claimed indefinitely.
A further challenge in recovering misplaced cash is the lack of a central repository for unclaimed money. There isn't a real national unclaimed property database; instead, each state keeps a missing money database in its own unique manner. Regardless of where you currently reside, unclaimed money can be retained almost anywhere thanks to a 1965 US Supreme Court ruling.