The Horror Of Escheatment

Every day people's assets that are due to them are taken away from them from a process known as "escheatment."

According to Wikipedia "escheat" has the definition below:

"Escheat is a common law doctrine that transfers the real property of a person who has died without heirs to the crown or state. It serves to ensure that property is not left in "limbo" without recognized ownership."

When someone dies in America with assets or someone has unclaimed property that is due to them their assets can be taken and allocated to the government after a certain amount of time has taken place if no one has claimed it. This amount of time varies by state. That is why it would behoove you and the American public to claim your unclaimed property and seek it out rapidly.

Lets take a look at the finance page for the city of San Diego in the state of California. The page reads as follows:

"Per City Charter, Section 86, after a period of one-year, unclaimed monies will become property of the local agency following the 45-day required waiting period after public notice has been provided. These funds will be escheated to the City's General Fund and will no longer be available for claiming. The escheatment process occurs annually during the fourth quarter of each fiscal year."

They just told you that if you don't claim your monies within a limited time span it will be transferred to the "City's General Fund" and gone forever! To make matters worse when the government sends notices out to people regarding unclaimed funds they often send the notice to an address that people have since moved out of or have not lived in for a very long span of time. In addition to this if an individual dies it can be very difficult for heirs to know about another family members assets and unclaimed property.

If you need help collecting unclaimed property please contact Victory Asset Recovery, LLC at contact@victoryassetrecovery.com or at (925) 222-5887. We charge no money upfront and only get paid if you get paid.