Posted on 05/12/2008 6:32:07 PM PDT by Clintonfatigued
The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they're supposed to safeguard for their citizens. But a "Good Morning America" investigation found some states aggressively seize property that isn't really unclaimed and then use the money -- your money -- to balance their budgets.
Unclaimed property consists of things like forgotten apartment security deposits, uncashed dividend checks and safe-deposit boxes abandoned when an elderly relative dies.
Banks and other businesses are required to turn that property over to the state for safekeeping. The problem is that the states return less than a quarter of unclaimed property to the rightful owners.
Not-So-Safe-Deposit Boxes
San Francisco resident Carla Ruff's safe-deposit box was drilled, seized, and turned over to the state of California, marked "owner unknown."
"I was appalled," Ruff said. "I felt violated."
Unknown? Carla's name was right on documents in the box at the Noe Valley Bank of America location. So was her address -- a house about six blocks from the bank. Carla had a checking account at the bank, too -- still does -- and receives regular statements. Plus, she has receipts showing she's the kind of person who paid her box rental fee. And yet, she says nobody ever notified her.
"They are zealously uncovering accounts that are not unclaimed," Ruff said.
To make matters worse, Ruff discovered the loss when she went to her box to retrieve important paperwork she needed because her husband was dying. Those papers had been shredded.
And that's not all. Her great-grandmother's precious natural pearls and other jewelry had been auctioned off. They were sold for just $1,800, even though they were appraised for $82,500.
"These things were things that she gave to me," Ruff said. "I valued them because I loved her."
(Excerpt) Read more at abcnews.go.com ...
I would be interested in the results.
Nothing lasts forever, there’s no permanent “safe” place to save. And no family that lasts just to protect its own.
I’ll ping you when I get it.
+/- $60,000,000,000,000.00 unfunded liabilities and less than needed work force. I’m going to have to pay one way or another, that’s my debt too. What’s an alternative? =Government theft?
Two totally separate issues.
BofA is not the city of San Francisco. It is a North Carolina corporation.
In your freezer, with an armed person in the home most of the time will suffice for most cases.
She's probably been voting for Democrats her whole life. Democrats who don't believe in property rights, and show this by their actions.
Now that the state of California, which is almost wholly run by Democrats, decides to steal her property, she is shocked! That was my point.
The state has no way of knowing how often or not people visit their boxes. With our bank, the only record of visits is a paper entry record which is signed when the owner of the box goes in to the vault. There is no computer record of visits.
Let me guess: Bank of America?
“I was appalled,” Ruff said. “I felt violated.”
Hey Carla, ya been celebrating the trampling of property rights to ensure your nostrils aren’t offended by the smell of tobacco smoke? Its your turn now. Enjoy!
Amen.
Big government and big business come together to take our earnings and our freedoms. Ugh.
It's beyond appalling, it's criminal.
There should be people going to jail over this.
Why isn't the USA ruled by the law any more? I miss that.
I suppose nothing is safe. wow
Think it can't happen ??? THINK again...
http://towncriernews.blogspot.com/search?q=ration+points
WW2 War Rations Points
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