If you’ve been looking into becoming a found money pro and have been discouraged by the finder’s fee caps that most states have in place for assisting and recovering unclaimed funds, fret not! Due to a very-little-known loophole, you can still go after unclaimed property to which the abandoned property laws don’t apply, and charge 30-50% for your information and assistance.
The key is in which funds you go after. Funds that are considered “abandoned property” or “unclaimed funds” as defined by the state law are, of course, subject to those finder’s fee limits. But what about funds that aren’t considered “abandoned property” or “unclaimed funds”? Usually, to be subject to abandoned property laws, funds have to a) actually be held by the state, and/or b) have been on hand for a certain period of time.
Thus, funds that fall outside of these laws aren’t subject to the caps. For example, some funds are created at a county level, and stay on hand with the county for a long period of time. You can go after those funds, find their owners and hook the two up for whatever finder’s fee you want, within reason.
Same thing with other laws. Some states’ unclaimed property laws require that you be a private investigator to become a found money pro. In other states, you can’t go after funds until after they’ve sat there for 2 years (ostensibly, so the owner can try to find the funds themselves first). Same thing here – don’t go after the funds that are subject to those laws, and you’re not bound by the state-imposed limits.
Throughout the entire country, there are billions upon billions of dollars of unclaimed funds that fall outside the state unclaimed property laws, that are eligible to be collected by found money pros – so don’t let those finder fee limits deter you from getting into the field.
So where to find records of these funds, and how to find their owners? Read the *free* Hooked On Overages “Insider’s Guide.” Visit http://Tax-Sale-Overages.com now. Or, take the *free* 5-day Video Training! Visit http://Overages-Training.com now.
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