Alabama
12:36 pm
Thu August 26, 2004

State Treasurer Issues Consumer Advisory

Montgomery, AL – State treasurer Kay Ivey has issued a consumer advisory after some Alabamians were approached by heir finding firms offering to claim properties in their names for a fee. Ivey says some of the firms charge up to 35 percent of the claim to perform the service. But she says that same service is offered free-of-charge by the treasurer's office, and there are no fees associated with filing a property claim. The Unclaimed Property Enhancement Act protects those who've entered into contracts with money finders by allowing them two years after property has been turned over to the Treasurer's Office to void the contract. Insurance companies, utilities, banks and others turn over unclaimed property, such as utility deposits and items left in safe deposit boxes, to the treasurer's office. Citizens can check for unclaimed property by going to the treasurer's Web site at treasury.state.al.us.