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| Unclaimed property is any financial asset (such as stocks, bonds, bank accounts, insurance proceeds, mutual funds, refunds, credit balances, vendor payments) that has been delivered to the state of California Controller's office by banks, insurance companies, financial institutions and other businesses as required by California law. | |||||||||||||
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| The group represents rightful owners in the efficient and successful recovery of their unclaimed property. The group utilizes advanced software technology to review extensive databases of public records, corporate filings, property tax records and other information to locate owners. Given the nature of the information required to successfully locate and recover unclaimed property, the ARS group ensures that it maintains the confidentiality of all information shared by its clients.
The ARS group receives permission to act on the owner's behalf by executing the Standard Representative Agreement that has been approved by the California Controller's office. We then thoroughly review unclaimed property accounts and prepare all necessary documents and property claim forms. These materials are sent to the owner with detailed instructions regarding the execution of the claim forms and the provision of supporting documentation required to file valid property claims. Once these materials are returned to us, the rightful owners have done their part and the ARS group works with the Controller's office to recover the assets in a timely manner-generally 180 days from the claim filing date. |
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| The firm's fee is strictly a "contingent fee" based on a percentage of the value of successfully recovered property. Pursuant to California law, authorized representatives may not charge a fee in excess of ten (10) percent of the value of property successfully returned. Our clients are never asked to pay these fees in advance and are required to pay only if, and when, the property is received by the owner. If the claimant does not recover the property (or part thereof) due to unforeseen circumstances, the ARS group receives no fees (or reduced fees) and bears the costs incurred to locate, contact and file claims on behalf of the rightful owner. |
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