You can charge 10% as a Washington DC unclaimed money finder.
Most people wouldn’t think to work as a finder in Washington DC because they would usually be counting the fifty states and would probably leave Washington DC out of their thought process.
However, just like all the fifty states, Washington DC does have it’s own treasury department and does maintain it’s own unclaimed money department withing the treasury.
As for becoming a finder in Washington DC, here are only a couple of rules that you need to follow:
1. No agreement or contract with a person for a fee or compensation to locate, deliver, recover, or assist in the recovery of property reported under § 41-117, entered into within 7 months after the date payment or delivery is required under § 41-119, is valid.
2. No agreement entered into after 7 months from the date of delivery of the property by the holder to the Mayor is valid if a person thereby undertakes to locate property included in a report for a fee or other compensation exceeding 10 percent of the value of the recoverable property unless the agreement is in writing and signed by the owner and discloses the nature and value of the property and the name and address of the holder of the property as such facts have been reported.
Nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration.
To sum it up, you cannot have an agreement to locate money if the money has not been held for at least seven months, and you cannot charge more than 10% commission.
Seven months is good as far as money being held is concerned. Most states make you wait at least twenty-four months.
As with most states, you also need to disclose the nature of the property being held and it’s value, as well as the holder of the unclaimed money.
Please click on the following link if you would like to view the complete Washington DC Unclaimed Money Law
Please click here if you are interested in becoming a Washington DC unclaimed money finder.
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