Finder Information
Colorado Revised Statutes 38-13-128 regarding property recovery
The State of Colorado has two different lists available:
1.Unclaimed Property (current edition - June 2006, next revision May 2007)
2.Estates of Deceased Owners and Dissolved Corporations (Updated quarterly)
(Call for pricing, cashiers checks or money orders only)
Unclaimed Property List
The Unclaimed Property list is updated annually and is available to you on compact disc. There are more than 500,000 names of owners of Unclaimed Property that are listed alphabetically by the owner’s last name or Business name. For your convenience cash amounts less than $50.00 are removed from the list. The format of the list consists of the owner’s name, last known address (if it is given), the Colorado property identification number, the type of property, the last date of activity on the account and the amount of funds being held.
Claims are processed by the Treasurer’s office. A claim form will be sent directly to the potential owner or heir. The Treasury will require documentation of ownership and/or heirship, proof of identification and a notarized signature from the owner or heir. The type of documentation will vary depending on the type of claim (i.e. owner, heir, business and the type of property).
A warrant will be issued to the owner or heir of the unclaimed property only after proof of ownership and, where appropriate, heirship has been established. The Treasury will only pay the owner or heir of the unclaimed funds. The law requires the Treasury to pay the rightful owner or his/her heir(s) and to obtain authentic and verified signatures from those individuals. A finder or locator must obtain information from his or her client about the progress of the claim in process. The Treasury will inform a third party or locator if a claim has been initiated on a particular item or property, and/or if a claim has been paid, however, no further information will be provided other than to the rightful owner or heir.
Estates of Deceased Owners and Dissolved Corporations List
The Estates and Dissolved Corporation list consists of two parts and is updated every two months. Estates include the name of the deceased owner, the county in which the estate was probated, the probate number, the amount of the estate, the date the estate was probated and the maturity date.
Dissolved Corporations include the name of the liquidated corporation, the county where the corporation was located, the amount of funds held by the corporation, the date in which the funds were turned over to the State Treasury and the maturity date.
Maturity Date: In accordance with the escheat law, twenty-one years after an estate is probated or a corporation dissolves and turns their funds over to the Treasury, the funds becomes property of the State. At that time they are deposited into the Public Education Fund.
In the case of probated or escheated Estates, all claims will be processed by petition to the probate court in the county in which the estate was probated. The Treasury does not have any control over the claiming process. The Treasury is represented by the Colorado Attorney General’s office in this process and both offices must be copied in any proceeding. It is the function of the Probate Courts to determine the rightful heirs of a decedent and it is the duty of the court appointed representative to make proper distribution of assets belonging to an escheated estate. The Treasury will receive an order from the Probate Court to pay or to continue holding the funds. Payment is made to the owner or heir as ordered by the Court.
In the case of Dissolved Corporations the claiming process is completed through our office. A claim form will be mailed directly to the potential owner of the funds. Payment is made to the owner or heir as stated previously.
Files corresponding with the Estates and Dissolved Corporations list are available in our office to be viewed upon request Monday through Thursday 10:00 a.m. - 4:00 p.m.
Contracts
In Colorado, a contract to pay compensation for locating or assisting in the recovery of unclaimed funds is not enforceable for the first 24 months after the date payment of delivery is made to the Treasury. Any agreement to pay compensation to recover or assist in the recovery of property reported which is entered into more than 24 months after the date of payment or delivery is made to the Treasury, is enforceable. The set forth agreement must be in writing and signed by the owner of the property; must describe the property, and must set for the nature of the services to be provided; and the compensation to be paid can not exceed 20% of the market value of the recoverable property in order to be enforceable. A more detailed explanation can be found in Colorado Revised Statutes 38-13-128, regarding property recovery.