Friday, July 19, 2013

FREE CASH MAY BE WAITING FOR YOU FROM THE U.S GOVERNMENT


Introduction
Unclaimed property is the original consumer protection program. Unclaimed property laws have been around since at least the 1940s, but have become much broader and more enforced in the last 15 years.

Every one of the 50 states, District of Columbia, Puerto Rico, the U.S. Virgin Islands – and Quebec, British Columbia and Alberta in Canada have unclaimed property programs. Each have two mandates, they are to collect lost and unclaimed property from its holders and to actively find owners of these lost and forgotten assets.

What is Unclaimed Property? Simply stated, any account in a financial institution or business that has not had any activity over a specific period of time. Specifics, like the period of time, are defined by the type of account and individual states and laws.

Every state has different statutes and rules that govern Unclaimed Property. Some examples of unclaimed property:
• Stocks
• Dividends
• Bonds
• Salaries or wages
• Savings accounts
• Safe Deposit Box contents
• Oil and gas royalties
• Mineral proceeds
• Pension Funds

Who could be affected by Unclaimed Property?
• Children
• Widowed Parent or Spouse
• Former Employees
• Heirs
• Memory Loss Patients (people with Alzheimer’s)
• Royalty Owners
• Senior Citizens
• Widows or Widowers

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