Colorado’s Unclaimed Money Finder Laws are pretty simple and straightforward.
They are summarized here:
Unclaimed money must be held by the Colorado Treasury for at least 24 months for any unclaimed money finder contract to be enforceable the agreement must be in writing and be signed by the owner of the unclaimed property The agreement must describe the property and describe the nature of the service to be provided the compensation to be paid can not exceed 20% of the market value of the recoverable property in order to be enforceable.
20% is just great! Most states that set a fee to find unclaimed money either set it lower than that, or only allow a certain limit for the 20%, then set a lower amount after that. An example of that is in Alaska where they allow 20% up to $500, then 10% after that. So, 20% is great!
If you’re feeling ambitious, you can read the entire Colorado Unclaimed Property Act here.
Colorado Unclaimed Money Finder Lists
Colorado has two lists available to become a Colorado unclaimed money finder.
The Unclaimed Property List is updated annually and is available on compact disc. There are more than 500,000 names of owners of unclaimed property on the list. They are listed alphabetically by the owners last name or business name. Anything less than $25 is removed from the list.
The list contains the:
- owners name,
- last known address (if given),
- Colorado property identification number,
- type of property,
- last date of activity on the account and amount of funds being held
That last bullet point is very important as not all states give the dollar amounts on their list. New York is a great example of that. It’s no wonder they are holding the most money!
The price of the Unclaimed Property List is $140 if they have to send it to you by mail and $135 if you go in and pick it up. The list is on pdf form on a compact disc. It sounds like a lot of money, but at 20%, all you need to do is find $700 worth of unclaimed money and you will make that money back. With 500,000 names and over $50 million owed, that shouldn’t be too difficult!
The Estates of Deceased Owners and Dissolved Corporations List consists of two parts and is updated every two months.
Estates include the: name of the deceased owner, county in which the estate was probated, probate number, amount of the estate, date the estate was probated and the maturity date.Dissolved Corporations include the: name of the liquidated corporation, county where the corporation was located, amount of funds held by the corporation, date in which the funds were turned over to the State Treasury and the maturity date.
The Estates list is $10 and they email it to you. A six issue subscription that comes out every two months is available for $50.
With 500,000 residents owed more than $50 million dollars, the Colorado Treasury can’t return all of this money themselves.
Click here if you’re interested in becoming a Colorado Unclaimed Money Finder