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Finders (Connecticut Unclaimed Property)
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In Connecticut, no fee can be charged for locating the rightful owners of unclaimed property within two years of the property being reported. Beyond that time period, there is a 10 percent fee limit.
Connecticut unclaimed property law requires all of the following:
No agreement to locate property within two years after the property is reported to the State shall be valid;
The fee for such services, after the 2 year moratorium has expired, is limited to 10% of the value of the recoverable property; and,
Such an agreement shall be valid only if it is writing, signed by the owner, discloses the nature and value of the property, and discloses the owner's share after the fee or compensation has been subtracted.
In addition, there is no charge to search the Unclaimed Property database or to ask the Connecticut Unclaimed Property Division to do a comprehensive search.
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Added: Tue Jul 25 2006
