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What is the difference between crowdfunding, seed funding and a regular angel investor program?
Actions on Unclaimed Property
The Department of Transportation (DOT) takes property claimed by the public on its claims inventory as unclaimed. Property owners are encouraged to do all that they can to verify when property is officially owned. If property is being claimed on behalf of more than one party at the same time it is usually advisable that the property owner’s signature be attached to the claim in order to make certain proof of claim. However, on a specific case the department may use the claim as a basis for other claims.
If the name appears to be a name of an individual, or a family unit, or a business, it does not necessarily mean the property is theirs. In fact, many of these claims are not necessarily based on a valid claim. Sometimes a single individual with no property is listed. Most often, the property is claimed based on the name of the owner.
DOT is required to maintain a claim inventory consisting of several thousand of property titles that are submitted each year and listed as “unclaimed” property. Unclaimed property is a good source of income for the department for several reasons. The department receives over $15 million each year. Because the claims inventory includes unclaimed property, the department has the opportunity to find and claim properties in an expeditious way.
The department will do its best to assist individuals and businesses when they are working to get their property claimed. There are two types of property that may be listed as “unclaimed” by the public – first-come, first-serve and vacant lots.
First-come, First-served properties
Unclaimed First-come First-serve Unclaimed property listed as “unclaimed” on the claim inventory is one property or lots for which the department will notify an individual or company for claim or use from the date of the mailing to the date it is legally declared dead. Claims should then be filed with the department within 7 days of sending the notice. If the property has not been claimed, it can be re-issued by the public upon requesting by the department. For more information on how claims will be
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