Reuniting Owners with Unclaimed Property: It’s Harder than You Think
I am not sure why Massachusetts is getting so much coverage here recently (see here and here), but interesting stuff keeps coming out of the Bay State. Today, we have an article from Julia Spitz of The MetroWest Daily News that asks the following question: how hard can it be to give unclaimed money to its rightful owners? This is especially the case when it comes to famous entities (or even some other well-known figures).
The answer, as Ms. Spitz points out, is that it’s often harder than it looks. Whether because of disbelief, disinterest, or simply being unaware, the fact is that most unclaimed property will never be claimed by the rightful owner (or his/her/its heir or successor). Thus, while we often give states a hard time for not doing more to reunite owners with unclaimed property (in some instances, rightfully so), it bears remembering that the job isn’t as easy as it may seem.