Free Republic 1st Qtr 2024 Fundraising Target: $81,000 Receipts & Pledges to-date: $74,563
92%  
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Keyword: abandonedmoney

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  • Escheatment of personal property

    11/10/2017 8:19:09 AM PST · by ProudFossil · 37 replies
    vanity
    My wife and I have an account with one of the large mutual fund companies. We were just informed that the state is getting ready to seize the account because it is considered abandoned. We have had the fund for about 12 years with the dividends and capital gains automatically deposited in our bank account. After calling the fund we were told that even though there have been approximately 150 automatic transactions on the account over the last 12 years they did not count as activity and so the state is preparing to seize the account. We were told we...
  • A chilling tale of how easy it is for banks to lose your money

    11/06/2017 10:05:41 PM PST · by Oshkalaboomboom · 17 replies
    NY Post ^ | November 6, 2017 | jJohn Crudele
    Two years ago, I wrote a column that frightened a lot of people. Now, I’m going to scare you again — this time, maybe even more. That column, which appeared on Sept. 24, 2015, explained that it had become easier for states to confiscate people’s bank, money market and other financial accounts because they were “abandoned.” So-called escheatment laws have been on the books forever. But states have been changing the rules so that it has become simpler for them to consider an account dormant — and then take it over. It’s a great scam for states that are desperate...