Massachusetts Contract to Locate Unclaimed Assets

• Category: Contracts - Unclaimed Assets
• State: Multi-State
• Control #: US-00700BG
• Format: Word; Rich Text

Description

This form is a sample of an agreement to locate unclaimed assets and/or property owned by others that do not know of such property. Examples of such property would be overbid funds from property that has been sold or is about to go to sale by public officials for back taxes that are due, as well as unclaimed property from a decedent's estate. The Massachusetts Contract to Locate Unclaimed Assets is a legal agreement between an individual or business, known as the "Locator," and the state of Massachusetts. This contract outlines the terms and conditions under which the Locator is authorized to search for and locate unclaimed assets on behalf of individuals, organizations, or estates. Unclaimed assets refer to funds or property that have been dormant or abandoned by their rightful owners. These assets can include bank accounts, stocks, bonds, insurance policies, inheritances, unwashed checks, and more. The Massachusetts Contract to Locate Unclaimed Assets allows the Locator to actively search and recover these assets for the benefit of the owner. There are different types of Massachusetts Contract to Locate Unclaimed Assets, each catering to specific circumstances: 1. Individual Claims: This contract type is designed for individuals who believe they may have unclaimed assets in Massachusetts. By entering into this contract, the Locator undertakes the responsibility of searching databases, contacting financial institutions, and conducting thorough investigations to locate the assets. The Locator charges a commission based on a percentage of the recovered assets. 2. Organizational Claims: Organizations, such as non-profit entities or businesses, can also enter into a Massachusetts Contract to Locate Unclaimed Assets. This type of contract allows the Locator to search for unclaimed assets that belong to the organization, helping to recover funds or property that have been neglected or forgotten. Similar to individual claims, the Locator receives a commission upon successful asset recovery. 3. Estate Claims: When an individual passes away without designating beneficiaries or heirs for their assets, those funds or property typically become unclaimed assets. Executors or administrators of estates can utilize a Massachusetts Contract to Locate Unclaimed Assets to locate and manage these unclaimed assets on behalf of the deceased person's estate. The Locator, in this case, plays a crucial role in identifying and recovering unclaimed assets for the estate. By signing a Massachusetts Contract to Locate Unclaimed Assets, individuals, organizations, or estates gain access to the expertise and resources of experienced Locators. These professionals have extensive knowledge of the laws and procedures governing unclaimed assets in Massachusetts, as well as the tools necessary to maximize asset recovery. It is important to carefully review the terms and conditions of the contract before engaging a Locator to ensure a fair and mutually beneficial agreement.

The Massachusetts Contract to Locate Unclaimed Assets is a legal agreement between an individual or business, known as the "Locator," and the state of Massachusetts. This contract outlines the terms and conditions under which the Locator is authorized to search for and locate unclaimed assets on behalf of individuals, organizations, or estates. Unclaimed assets refer to funds or property that have been dormant or abandoned by their rightful owners. These assets can include bank accounts, stocks, bonds, insurance policies, inheritances, unwashed checks, and more. The Massachusetts Contract to Locate Unclaimed Assets allows the Locator to actively search and recover these assets for the benefit of the owner. There are different types of Massachusetts Contract to Locate Unclaimed Assets, each catering to specific circumstances: 1. Individual Claims: This contract type is designed for individuals who believe they may have unclaimed assets in Massachusetts. By entering into this contract, the Locator undertakes the responsibility of searching databases, contacting financial institutions, and conducting thorough investigations to locate the assets. The Locator charges a commission based on a percentage of the recovered assets. 2. Organizational Claims: Organizations, such as non-profit entities or businesses, can also enter into a Massachusetts Contract to Locate Unclaimed Assets. This type of contract allows the Locator to search for unclaimed assets that belong to the organization, helping to recover funds or property that have been neglected or forgotten. Similar to individual claims, the Locator receives a commission upon successful asset recovery. 3. Estate Claims: When an individual passes away without designating beneficiaries or heirs for their assets, those funds or property typically become unclaimed assets. Executors or administrators of estates can utilize a Massachusetts Contract to Locate Unclaimed Assets to locate and manage these unclaimed assets on behalf of the deceased person's estate. The Locator, in this case, plays a crucial role in identifying and recovering unclaimed assets for the estate. By signing a Massachusetts Contract to Locate Unclaimed Assets, individuals, organizations, or estates gain access to the expertise and resources of experienced Locators. These professionals have extensive knowledge of the laws and procedures governing unclaimed assets in Massachusetts, as well as the tools necessary to maximize asset recovery. It is important to carefully review the terms and conditions of the contract before engaging a Locator to ensure a fair and mutually beneficial agreement.