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Finders (Alaska Unclaimed Property)
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Alaska Unclaimed Property Finder Information
Fee finders (or heir finders) are people who have obtained a list of people with unclaimed property held by the State of Alaska. There are no special finder requirements or licenses needed in the State of Alaska. (Some states require bonding and an investigator license.)
If you have been contacted by a fee finder, you should attempt to locate the property on your own before signing a contract. Check through old tax records for accounts that may have been forgotten. Stocks, mutual funds and other long-term investments are often targets for fee finders. You should contact unclaimed property offices in the states where you have lived before.
The Treasury Hunt web site at http://www.TreasuryHunt.com contains information about each state's unclaimed property laws as well as a listing of other states that have searchable databases.
Fee Finder Agreements
The State of Alaska's Unclaimed Property Act has a provision that addresses fee finders' contract conditions and allowable fees. A contract must be in writing, not exceed six months, specify fees to be charged, state the nature and value of property and the value of the owner's share after the fee is deducted. The fee or compensation must not exceed the limitations below.
A contract that does not meet the statutory guidelines is unenforceable.
Fee Finder Limitations
The fee or compensation must not exceed the following:
A contract that exceeds the fee limits is unenforceable. Any collection and payment disputes are limited to the contractual parties.
List for Fee Finders
Periodically, the State of Alaska compiles a list of unclaimed property with a value of $100 or more. The list is available at no charge on this web page.
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Added: Mon Jul 24 2006
Last Modified: Tue Feb 20 2007
