It does not pay to search for Kansas unclaimed money as a finder.
That does not mean that you cannot live in Kansas and work as a finder, it just means that you should do your searches for other states.
For example, we are in New York, but because the laws limit us, we do not search for unclaimed money in New York but prefer to search lists of more favorable states.
Kansas does have unclaimed money laws, but they are basically useless.
That is because of KORA (Kansas Open Records Act).
Kansas does not have a list available for finders. If you go to do a search on their site, you are met with this warning:
“As you may know, many states have adopted laws which open but limit access to public documents. Our act is known as the Kansas Open Records Act (KORA) K.S.A. 45-215 et seq. Under the KORA and our civil code, lists of names and addresses obtained from public records cannot be used for the purpose of selling or offering for sale any property or service to the persons listed (i.e. commercial solicitation). The civil code statute, K.S.A. 2006 Supp. 45-230, provides that we would be subject to civil penalties if we furnish such information to you, and you in turn use the information for commercial purposes. K.S.A. 2005 Supp. 45-230 also provides that you are also subject to a civil penalty of up to $500 for each occurrence if you use this data to sell any product or service to the individuals listed in our database.
Then in big capital letters it says “!!!THERE ARE NO FEES OR COSTS LEVIED BY THE STATE OF KANSAS FOR THIS SERVICE NOR ARE THERE ANY FEES TO CLAIM PROPERTY!!!
Then, they mention one of the requirements of finders in Kansas- “Under the Unclaimed Property Act, no person can charge a finder’s fee within the first two years after the asset is reported to the Kansas State Treasurer’s Office.”
Finally, “In order for you to look up your name, you must agree with the above statements. Please choose your response below after reading them. Thank you”.
I guess Kansas is in no hurry to give the money back to its rightful owners.
Meanwhile, Kansas does have laws relating to unclaimed money finders, which is really contradictory. How are you supposed to work as a finder searching for Kansas unclaimed money when there is no list supplied and you cannot use the website to search?
Even if someone came to you on their own, you would not able to use the website to look them up without being subject to a fine.
If you are interested in the laws in Kansas, the below information is taken from the Kansas Unclaimed Property Act.
58-3968Chapter 58.–PERSONAL AND REAL PROPERTY Part 6.–MISCELLANEOUS PROVISIONS Article 39.–DISPOSITION OF UNCLAIMED PROPERTY ACT
58-3968. Agreement to locate reported property. (a) All agreements to pay compensation to recover or assist in the recovery of property reported under K.S.A. 58-3950, and amendments thereto, made within 24 months after the date payment or delivery is made under K.S.A. 58-3952, and amendments thereto, are unenforceable.
(b) All agreements to pay compensation to recover or assist in the recovery of property reported under K.S.A. 58-3950, and amendments thereto, made more than 24 months after the date payment or delivery is made under K.S.A. 58-3952, and amendments thereto, are unenforceable if the fee or compensation agreed upon is in excess of 15% of the value of the recoverable property. The administrator may require a third party seeking information concerning unclaimed property held for an apparent owner to provide a copy of an agreement signed by the claimant before releasing any information to the third party.
(c) State warrants that may be issued in payment for and redemption of recoverable property may be issued, in the discretion of the administrator, directly to the rightful owners or, as fiduciary of the estate of a deceased owner, to an heir or legatee, and not to a named attorney in fact, agent, assignee or other person regardless of written instructions to the contrary. History: L. 1994, ch. 8, § 35; L. 2000, ch. 125, § 9; Apr. 27.
They limit it to15%, but they may as well make it 150% if no one is going to search there anyway.
Like I said, if you want to be an unclaimed money finder in Kansas, that is fine, just search in other states.
Remember, you will be subject to the laws of those states, not the law in Kansas, so do like I do and give a big Bronx cheer to Kansas!
If you would like to learn more about becoming an Unclaimed Money Finder please click here
So if NY has high dollar amounts, why can’t you do them even if you don’t know what they are? Won’t you find out when the person gets their money?
Yes, you will, but I would still rather work in a state where I know the actual dollar amount ahead of time.
New York seems pretty lenient why don’t you do it in NY?
New York does not give the dollar amounts on their list. They also have the most money on their list. If they gave the dollar amounts finders would be all over that and I don’t think NY has the money to pay out all of the claims that would be entered!