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Unclaimed Property: A Career Choice?

Every once in a while people ask us about jobs as unclaimed-property brokers.

(Note: As for tracking down your own ?unclaimed-property? -- you can do that yourself. The "National Association of Unclaimed Property Administrators" (NAUPA) and their state affiliates offer these exact same searching services free. These are government offices, not private businesses. They link you to state and federal government offices that will search for you for no charge.)

There are private businesses that offer, for a fee, to search for unclaimed property, but I?m not sure they have a specific name, job title, or occupational heading. I have heard them called unclaimed-property brokers or asset recovery businesses, but there may be others. These businesses may work with attorneys, debt collectors, law enforcement, or private investigators, among others.

I recommend you start with the Unclaimed Property Professionals Organization (UPPO).

I also recommend you check with your local Chamber of Commerce or Better Business Bureau and your state?s Attorney General?s office to find out if there are any licensing or training requirements for people in the unclaimed-property business.

My guess is also that the business of asset-searching is fairly seriously regulated since you would be given access to other people?s personal information and money.

Here are some stories from the Oregon Attorney General?s office about some asset recovery businesses:

1) AG Myers Obtains Judgment Against Unlicensed Investigator & His 'Money Finder' Corporation, May 27, 2005

2) AG Files Agreement With Washington 'Unclaimed Asset' Recovery Business, May 11, 2006

Full post as published by Oregon Legal Research on May 13, 2010 (boomark / email).