You can charge up to 20% as a Missouri unclaimed money finder.
Missouri is currently holding over $600 million in unclaimed money.
That means there is currently $120 million up for grabs!
There are certain rules that need to be followed in Missouri:
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No agreement to locate money for a fee is valid unless the agreement discloses the nature and value of the property, is in writing, and signed and acknowledged by the owner
- Any agreement to pay commission to recover money which has only been delivered to the treasurer within the past twelve months is unenforceable
- Any agreement to pay commission to recover money which has been held by the treasurer for more than twelve months but less than twenty-four months is limited to a 10% fee
- Any agreement to pay commission to recover money which has been held by the treasurer for more than twenty-four months but less than thirty-six months is limited to a 15% fee
- Any agreement to pay commission to recover money which as been held by the treasurer for more than thirty-six months is limited to a 20% fee
- Any person wishing to charge a fee to recover money on a claim must register with the State as a finder of unclaimed money
Click here if you would like to read the complete “Missouri Revised Statutes, Chapter 47-Lost and Unclaimed Property Section 447.581”
As I mentioned at the top of the page, Missouri is currently holding more than $600 million in unclaimed money.
Last year $30 million was returned by the State to it’s rightful owners. That sounds like a lot of money, but compared to all of the unclaimed money being held in Missouri, only 5% was returned.
There are more than 3.5 million owners. Obviously the State cannot return all of the money being held on their own, despite their best efforts. They need help.
Please click here if you are interested in becoming an unclaimed money finder in Missouri.
I’m stuck on trying to register in MO. as a finder. I live in KS and MO Locator Registration Form is asking for required documentation of a business license and I’m not exactly sure on how to get one.
When I first started my business in 1998 I went to the county clerks office and paid $15 to register my business name. This allowed me to go the bank and get a commercial account opened. Before doing that, why not give MO a call and ask them if that is definitely required or if you can just leave it blank?
Hello, I love your website. I am just wondering, do you have a cold calling script?
There is a cold calling example in the Guide.
Okay my name is suppose to be on a list from an oil company in texas. It originally was in my grandma’s name Georgia Ellen lee. I’m trying to locate on how to get my money. Is there anyway u could help…
I am very interested in your book. I have a question as I do my own on-line research. Do you list all the sites to use for the benefit of the client to find ALL unclaimed property that they may possibly have.
B,
The Guide focuses mainly on State held unclaimed money and there is extensive information regarding that. We also touch briefly on unclaimed city, county, and unclaimed property tax.
However, if we were to list every site for all unclaimed property that the client may have the Guide would be hundreds, maybe thousands of pages long and possibly too big to download.
Just now, I did a search on Google for “County Unclaimed Property”. I went all the way to page 30 and came across City of Irving, TX unclaimed money, http://www.ci.irving.tx.us/financial-service/pdfs/unclaimed-funds.pdf . Now, in Texas, the cities turn anything over $100 to the State. They hold onto any funds less than $100. Most finders aren’t looking for anything under $100 (at least most that I know), so I’m not sure you would want that in the Guide anyway.