Finder Information

PAGE LAST UPDATED 11/30/2021

Colorado passed the Revised Uniform Unclaimed Property Act (RUUPA) in April 2019, and changes go into effect July 1, 2020. Please note that CRS 38-13-1301 now addresses property recovery for Colorado.

What changed for Finders in RUUPA?

There are two changes in RUUPA for finders:

  1. The contract between the owner/heir and the finder is required to state that the apparent owner may directly file a claim for property with the administrator of a state’s Unclaimed Property Act, who in Colorado is the State Treasurer, without being charged a fee by the administrator. CRS38-13-1301
  2. Third parties will only be provided non-confidential status updates. These statuses may also be obtained online using the claim number. CRS 38-13-1303


Colorado implemented new Rule Making changes go into effect November 30, 2021. Please note that one of the new rules addresses property recovery for Colorado. Please see below:

8 CCR 1508-1

1.5.11 Located Property

  1. Except as otherwise provided in the Act, agreements to pay compensation to recover or assist in the recovery of property reported under the RUUPA are unenforceable within 24 months after date of payment or delivery to the Administrator. Compensation shall not to exceed 10%.


COLORADO FINDER/LOCATOR LIST (Please read before sending payment)

Unclaimed Property & Estates of Deceased Owners

The State of Colorado has one list available that includes the items below, and is $305.00, which includes shipping. All disks will be mailed once payment and Finder Disk Form are received.

Cashier’s checks or money orders only. Please make checks payable to: "Colorado Unclaimed Property Division", 200 E. Colfax Ave. Room 141, Denver CO 80203-1722. The Finder Disk Form must be completed and mailed with payment.

Unclaimed Property Finder List Description

The Unclaimed Property Finder list is updated annually and is available to you on compact disk. Owners with names are listed on the compact disk listed alphabetically by the owner's name or business name. The list has properties greater than 24 months per statute CRS 38-13-1302.

For your convenience, amounts less than $500.00 are removed from the list. The list consists of the owner's name, last known owner’s city/state, name of the institution that remitted the funds, the type of property, the year reported, the range of reported fund amount as shown online (for example, “Over $250”).

The division will no longer provide specific dollar amounts on the finder list. This change has been made to be consistent with what individual owners are seeing online compared to what the finder list provides. This list will be defaulted to our highest range- Over $250- in the dollar range for all listed properties.

Claims are processed by the Treasurer's office. The Treasury will require documentation of ownership and/or heirship, proof of identification and a notarized signature from the owner or heir. The type of documentation will vary depending on the type of claim (i.e. owner, heir, business and the type of property).

A warrant will be issued to the owner or heir of the unclaimed property only after proof of ownership and, where appropriate, heirship has been established. The Treasury will only pay the owner or heir of the unclaimed funds. The law requires the Treasury to pay the rightful owner or his/her heir(s) and to obtain authentic and verified signatures from those individuals. A finder or locator must obtain information from his or her client about the progress of the claim in process. The Treasury will inform a third party or locator the status of the claim (CRS 38-13-1303) no further information will be provided other than to the rightful owner or heir.

Estates of Deceased Owners List

The Estates of Deceased Owners list includes the name of the deceased owner/estate, the probate number (including county-if provided), the amount of the estate, the date the estate was probated and the maturity date (*see below).

*Maturity Date: In accordance with the escheat law, twenty-one years after an estate is probated or a corporation dissolves and turns their funds over to the Treasury, the funds becomes property of the State. At that time they are deposited into the Public Education Fund.

In the case of probated or escheated Estates, all claims will be processed by petition to the probate court in the county in which the estate was probated. The Treasury does not have any control over the claiming process. The Treasury is represented by the Colorado Attorney General's office in this process and both offices must be copied in any proceeding. It is the function of the Probate Courts to determine the rightful heirs of a decedent and it is the duty of the court appointed representative to make proper distribution of assets belonging to an escheated estate. The Treasury will receive an order from the Probate Court to pay or to continue holding the funds. Payment is made to the owner or heir as ordered by the Court.

Contracts

In Colorado, a contract to pay compensation for locating or assisting in the recovery of unclaimed funds is not enforceable for the first 24 months after the date payment of delivery is made to the Treasury. Any agreement to pay compensation to recover or assist in the recovery of property reported which is entered into more than 24 months after the date of payment or delivery is made to the Treasury, is enforceable. The set forth agreement must be in writing and signed by the owner of the property; must describe the property, and must set for the nature of the services to be provided.

For all properties outside of overbids: the maximum compensation to be paid cannot exceed 10%.

For overbid properties only- the maximum compensation to be paid cannot exceed 20%(24-36 months)/30% (greater than 36 months)

RUUPA has also added that the contract between the owner/heir and the finder is required to state that the apparent owner may directly file a claim for property with the administrator of a state’s Unclaimed Property Act, who in Colorado is the State Treasurer, without being charged a fee by the administrator.

Other Frequently Asked Questions:

Does your office work directly with any finder?

No. An agreement between the finder and potential claimant is a business issue between the two parties. Finders are not allowed to indicate or imply that they are an agent or affiliate representative of the State of Colorado, Colorado Department of the Treasury, or Colorado Unclaimed Property Division (Great Colorado Payback office) in any fashion or form.

Must finders possess a special license or be registered with the State to conduct business in Colorado?

Colorado does not currently have any special licensing requirements for finders. However, the Unclaimed Property law does stipulate limits on how much a finder may charge.

In what format are the lists provided?

The Unclaimed Property/Estates list is issued on one CD as an excel file.

To whom should the payment for the list be made payable?

Your cashier’s check or money order should be made payable to Colorado State Treasury. Personal checks and cash are not accepted.

Can finders designate themselves as claimants on the claim?

No. All claims must include the actual claimants’ (owners, heirs, company owner or official) direct contact information. While finders may assist their clients with gathering information, the completed claim form with all the supporting documents must come from the claimant. Payment will be made to the owner/claimant, and not to the asset locator.

Will the Unclaimed Property Division pay the finder’s fee?

No. Payments of all claims will be made directly to the owners/claimants. Finders are responsible for collecting their fees from their clients.

Can I create a claim for my client?

Yes, you may create a claim online. You must include the claimant’s name, address, phone and email address. Checks cannot be sent the finder’s address. All communications must be directly with the claimant per our statute. (See RUPPA changes #2 above)