Most commonly asked questions on locating owners of unclaimed property in Georgia, 1993

1. IN WHAT FORM IS THE UNCLAIMED PROPERTY OWNERS LIST AVAILABLE AND WHAT IS THE COST OF EACH?
The iist is available on microfiche cards, diskette and magnetic tape. The microfiche card set is $24.00. For diskette reproductio of the list, seven 3112" d-iskettesmustbepr.pvtded to our section. The cost of diskette reproduction is $50.00. Please call regardi:
the price for magnetic tape reproduction.--
2. WHAT INFORMATION IS AVAILABLE ON THE LIST?
The owner identification number, owner name and the name of the reporting institution. No amounts or last known addresses" provided on the list.
3. CAN I ORDER A PARTIAL LISTING?
No. The list comes in alphabetical order according to the name of the owner and cannot be purchased in sub-parts.
4. IS YOUR INFORMATION AVAILABLE BY COMPUTER VIA TELEPHONE LINE HOOKUP?
No.
5. WHAT KINDS OF ACCOUNTS ARE ON THE LIST?
s" Dormant savings accounts, checking accounts, utility deposit refunds, uncashed checks, dividends, royalties, estate, insurance,
deposit boxes, etc.
6. HOW OFTEN IS A NEW LIST PRODUCED?
Once a year in November.
7. ARE THE LISTS FOR PRIOR YEARS AVAILABLE FOR SALE?
No. When the new list comes out, the current list will no longer be available for sale.
8. WILL THE NEW LIST BE AN "UPDATED" LIST INCLUDING MONEY STILL NOT CLAIMED FROM PRIOR YEARS?
Yes. The lists starts with 1973 accounts and is updated to include all unclaimed accounts from succeeding years.
9. HOW CAN I ORDER THE LIST?
We will accept a cashier's check or money order made payable to the GEORGIA DEPARTMENT OF REVENUE, UNCLAIME= PROPERTY SECTION. We do not accept personal checks. Send all requests to:
Georgia Department of Revenue Property Tax Division Unclaimed Property Section 270 Washington Street, S.W. Room 404 Atlanta, Georgia 30334
Please allow ten working days to process your order.
11. CAN I SEND YOU A LIST OF ACCOUNTS I MAY BE INTERESTED IN, SO THAT YOU CAN TELL ME IF THEY HAVE ALREP.c BEEN PAID?
No. We do not have the staff to dedicate to this kind of research. The annually updated microfiche deletes accounts that have been paid.
12 IF YOU ONLY UPDATE YOUR PUBLISHED LIST ONCE A YEAR, HOW WILL I KNOW WHO HAS BEEN PAID AND WHO HA. NOT?
The updated list will be the only provided source of available accounts. We have found that most individuals will state that they ha\ already filed a claim or received their money.

13. THE GEORGIA UNCLAIMED PROPERTY SECTION GENERATES AN ADVERISEMENT "TWICE A YEAR LISTING THE UNCLAIMED PROPERTY OWNERS. WHAT IS THE DIFFERENCE BE"TWEEN THE ADVERTISED LISTING AND THE
MIC~OFjCHE UST?~
The advertised list reflects the owner identification number and the owner name. The microfiche reflects the owner identificatior, owner name and the reporting institution.
14. WHY ARE SOME NAMES LISTED IN THE ADVERTISEMENT AND NOT ON THE MICROFICHE?
Often the owner saw his name in the advertisement and either reclaimed his money or reactivated his account, thus removing h;, name from the "unclaimed" list.
15. WHAT iNFORMATION IS REQUIRED WHEN SUBMITIING A REQUEST FOR A CLAIM FORM TO BE MAILED TO AN OWNE~-
* Name and current mailing address of the claimant. * Name of the owner exactly as it appears on the microfiche. * Owner's filing status (i.e., original owner, heir, trustee, executor, etc.)
Owner identification number. Name of the reporting institution.
16. WHAT INFORMATION WILL I NEED TO FILL OUT THE CLAIM FORM?
You will not need to fill out the claim form. The appropriate claim form will be sent to the claimant who will fill it out and return it alors with whatever supporting documentation is required for proving ownership.
17. SINCE GEORGJADOES NOT ACCEPT ASPECIFIC POWEROFATIORNEYTOWORKONTHE RIGHTFUL OWNER'S BEHAl:: ARE THEREANY OTHER CIRCUMSTANCES UNDER WHICH THE GEORGIA UNCLAIMED PROPERTY SECTIONWILLACCEr:A SPECIFIC POWER OF ATIORNEY?
Yes. Power of Attorney from a court appointed guardian for a disabled or incompetent person, a minor or an appointed receiver Ytli be accepted.
18. WHAT ARE THE GEORGIA UNCLAIMED PROPERTY SECTION'S PROCEDURES FOR MAKING PAYMENT ON A CLAIM?
When the Georgia Unclaimed Property Section receives a request to make claim, the information will be researched and if everything is in order, a claim form will be sent to the claimant. Once the claimant sends back the claim form along with supporting documentation, the information is reviewed by our claims unit according to the statute/policies. A request for the issuance of a cheo is then sent to a designated accounting office within the Department of Revenue. The check is sent back to the Georgia Unclaimec Property Section and forwarded immediately to the claimant.
20. WHY DOES IT TAKE SO LONG?
From the time the claims unit receives all the necessary documentation and sends the claim through the system for payment. the process usually only takes ninety days or less. Quite often, the claimant does not respond immediately upon receiving the claim form and may not send in all the documentation required. Also, in cases where intestacy or securities are involved, the required documentation of ownership may take additional time to obtain. Requesting and reviewing this information takes time; the claim process can take longer.
21. CAN THE CHECK BE MADE PAYABLE TO ME SO I CAN TAKE MY FEE AND GIVE THE REST TO THE CLAIMANT?
No. The money belongs to the claimant.
22. WILL THE STATE MAKE A SEPARATE CHECK TO ME?
No. The State's obligation is to the rightfUl owner.
23. DOES THE CLAIMANT NEED TO COME TO THE GEORGIA UNCLAIMED PROPERTY SECTION FOR THE REFUND?
No. We will send it by mail.
24. WILL THE STATE NOTIFY ME WHEN THE CLAIMANT GETS THEIR MONEY?
No You will need to maintain close contact with your claimants in order to know when they receive their money.

25. IF THE STATE CANNOT PAY ME MY FEE OR NOTIFY ME WHEN THE CLAIMANT GETS PAID, WHAT ASSURANCE DO I HAy, THAT I WILL GET MY MONEY ONCE THE CLAIMANT RECEIVES PAYMENT?

Your rig:1ts of recourse are matters you should discuss with your attorney.

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26. ARE THERE ANY LEGISLATIVE AMENDMENTS AND/OR OPERATING POLICY REGARDING LOCATORS THAT I SHOULD KNOW ABOUT?

Yes. Persons contracting with owners of abandoned property for a fee should note the following amendments to the Unclaimec Property Statute effective July 1, 1989.

1. All agreements to pay compensation to recover or assist in the recovery of property reported and delivered to the State Revenue Commissioner under this article shall be unenforceable for24 months after the date of payment of property the 8ta: Revenue Commissioner.

2. The fees charged by any person, firm or corporation to recover or assist in the recovery for and on behalf of a claimant: property reported and delivered to the State Revenue Commissioner under this article shall not exceed 10 percent of the va ilof the property recovered.

3. All funds or property located by a person to be compensated by the payment of such a fee shall be paid or delivered direc: to the owner and may not be paid or delivered to the person to receive the fee whether pursuant to a duly executed PO',vE of Attorney or otherwise.

Also, you should be aware of these changes in the operating policy of the Unclaimed Property Section effective September 1, 198 =

1. Only owners, their heirs and holders of those types of Powers of Attorney stipulated in #3 above may submit claims

2. Payment will only be sent to the owners.

3. We will reveal the status of a claim only to the owner.

27. MUST I OBTAIN A PRIVATE INVESTIGATORS LICENSE TO LOCATE OWNERS IN GEORGIA?

It is not a function of our office to verify whether you have or should have a private investigator's license to locate owners. You show correspond with the Secretary of State's Private Investigator's Licensing Unit to ensure compliance with Georgia's laws regulatlr investigative type services.

28. IF I HAVE QUESTIONS CONCERNING THE CLAIM PROCESS, WHOM SHOULD I CONTACT?

Contact:

Georgia Department of Revenue Unclaimed Property Section - Claims Unit 270 Washington Street, Room 404 Atlanta, Georgia 30334 (404) 656~244