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#283232 - 12/02/04 07:56 PM Help with unclaimed property
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Hello NY Folks I was approached by a gentleman at the Petroleum Club last night about some unclaimed property his family supposedly has in NY. They are a very old family, Stein I believe is the name, who owned the largest department store and clothing manufacturing businesses in the city pre-depression. His father died last year, and not long afterwards he started receiving letters about unclaimed property, but each letter asks for funds in advance to help him find the property.

He thought it was probably a scam, and I agreed, but also told him there are ways to search out unclaimed property in each state. This is obviously not my area of expertise! Because of his families LONG history in NY, it's entirely likely they do have some unclaimed property out there. So, my question is, can you lead me to a location for him to search in your state? Or, does NY send out letters asking for money to provide unclaimed property? He said it is on "official looking" letterhead...but I'm sceptical about that
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Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#283233 - 12/02/04 09:21 PM Re: Help with unclaimed property
PatrickG Offline
100 Club
PatrickG
Joined: Jun 2001
Posts: 165
Binghamton, NY, USA
Have them try this website from the NYS Controllers Office:
http://www.osc.state.ny.us/cgi-bin/db2www/ouffrm.d2w/input

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#283234 - 12/02/04 09:25 PM Re: Help with unclaimed property
Reads Regs Offline
Diamond Poster
Joined: Nov 2004
Posts: 2,310
I'm not a NY banker but I did a search on Google.com and came up with the following web page for the NY State Comptroller's office that should help.

http://www.osc.state.ny.us/cgi-bin/db2www/ouffrm.d2w/input
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Opinions expressed are my own and not necessarily those of my employer. They are not legal advice.

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#283235 - 12/03/04 02:54 PM Re: Help with unclaimed property
PMH Offline
100 Club
Joined: Jul 2004
Posts: 107
Buffalo, NY
Dawnie - Try www.osc.state.ny.us/ for FAQ's about unclaimed property in NYS as well as instructions about how to claim the property. As far as I know, NYS does not send out letters, it is up to the FI with the property to do so. Notices are generally placed in the classified section of local newspapers too. On the web site, your gentleman friend can perform a search for unclaimed property at no charge. maybe he'll buy you a drink if he finds some cash

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#283236 - 12/04/04 12:56 AM Re: Help with unclaimed property
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Thank you all! I told him I "knew" some folks in NY who would be helpful

And I also told him I'd give him the info, as long as he paid me one dollar less than the fee in the letter LOL (that would be $24). I'll settle for making a clients life easier....and probably a glass of wine
_________________________
Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#283237 - 12/09/04 09:22 PM Re: Help with unclaimed property
HRH Dawnie Offline
Power Poster
HRH Dawnie
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
Update:

Thanks for your help on this. We found a certificate of deposit that was sitting unclaimed in the name of my clients father.

Unfortunately a search of my family name indicated we have nothing on hold for us
_________________________
Dawn Coursey VP/CRA Queen

CRA Rating is in...Oh who cares...I'm home with the baby.

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#283238 - 12/09/04 09:30 PM Re: Help with unclaimed property
PatrickG Offline
100 Club
PatrickG
Joined: Jun 2001
Posts: 165
Binghamton, NY, USA
Glad to help out, and it's nice to hear your client found something. We are in the middle of a state audit on abandoned property right now and I will let our staff know that their good work in getting the accounts correctly to the state does pay off.

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