What Are Finder Services?
Unclaimed property finder services — sometimes called heir finder companies, locator services, or recovery specialists — are companies that search the same public state databases you can access for free, then contact property owners and offer to help them claim their property in exchange for a percentage fee, typically 10–40% of the amount recovered.
They often appear official or affiliated with government agencies. They are not. They are private businesses with no special access to information or processes not available to you directly.
What They're Searching — And Why You Can Do It Yourself
Every piece of information a finder service uses to identify your unclaimed property is in the same public databases you can search right now:
- MissingMoney.com — free, multi-state, no account required
- Your state treasurer's official website — free, authoritative, direct
Finders have no additional access. They don't have relationships with state offices that get claims processed faster. They have no special forms or insider knowledge. They search public records, find your name, and contact you before you find the information yourself.
What States Say About Finder Fees
Most states have passed laws limiting or regulating finder fees for unclaimed property. Common restrictions:
| State | Fee Cap |
|---|---|
| California | 10% of claim value |
| Texas | 10% of claim value |
| New York | 15% of claim value |
| Florida | 20% of claim value |
| Illinois | 10% of claim value |
| Ohio | 10% of claim value |
| Many other states | 10–25%, varies |
Even where capped, these are fees you don't need to pay. The cap exists because some finders were charging 40–50% before regulation — not because 10% is a fair price for something that costs you nothing to do yourself.
Once you've signed a finder agreement, you are contractually obligated to pay their fee even if you subsequently file the claim yourself. Always search the official databases before engaging with any third party. The search takes minutes and costs nothing.
Red Flags to Watch For
- Contact arrives out of nowhere via mail, email, or phone telling you that you have unclaimed property
- The company has a name that sounds government-related but is not a .gov website
- They ask you to sign a contract before revealing how much money is involved
- They claim to have "exclusive access" or a "special agreement" with the state
- They ask for payment upfront or your bank account information