Connecticut

You can charge 10% as a Connecticut Unclaimed Money Finder.  Connecticut owes over $300 million in unclaimed money.

The rules in Connecticut are pretty simple and the opportunities are great.

 

A finder must follow all laws and regulations while conducting business in CT:

1. A finder may contract with the rightful owner and not work with the unclaimed funds department. In this case, the Unclaimed Property Division will work directly with the rightful owner.  The rightful owner is the only one that will receive updates on the status of a claim and will receive payment directly from the Division.  The finder will have a contract with the rightful owner and collect their fee from the rightful owner.

2. The finder may contract with the rightful owner and obtain a limited power of attorney. In this case the Unclaimed Property Division will work directly with the finder.  The office will send a check in the name of the rightful owner to the finder.  The finder distributes the money in accordance with the contract.

3. In either case the contract must clearly state the following information:

a. The property identification number for each property to be collected from the Unclaimed Property Division
b. The value of each property to be collected
c. The total value of the claim
d. The fee to be paid to the finder, which by state law, may only be up to 10% of the total value
e. The total amount payable to the rightful owner after the finder fee is subtracted

4. If appropriate, the contract must clearly state the finder obtained a limited power of attorney from the rightful owner.

5. If the finder does not obtain a limited power of attorney, the Division does not require a copy of the signed and notarized contract since it is between the finder and the rightful owner.

6. The contract must be executed by each party to the contract and each signature must be notarized; the originally executed and notarized contract must be uploaded through a secure link on the state website or mailed to the Connecticut Unclaimed Property Division.

Please click here for the complete Connecticut unclaimed money finder statute.
That’s pretty much it.  Easy, right?

In 2019 Connecticut returned $32 million to 14,500 owners.

There is currently over $396 million being held for almost 900,000 owners.

That means Connecticut returned less than 10% of the unclaimed money being held, and millions more are added every year.

They obviously cannot return all of that unclaimed money themselves, despite their best efforts.

Hmmm…let’s see.

$396 million x 10% (the fee you are allowed to charge) equals $39.6 million.

That’s a lot of money to be made!

Would like to help return unclaimed money to it’s rightful owners in  Connecticut and make money in the process?

If so, then this might be  the perfect opportunity for you.

Please click here for more information on becoming a Connecticut Unclaimed Money Finder.