Got a letter saying you have unclaimed money — is it real?

**State notices.** A handful of states (California most aggressively, plus New York, Texas, and Pennsylvania for higher-value claims) mail or email an outreach letter when they're holding property under your name. The notice tells you the property exists, points you to the state's official website, and provides a claim number. There's no fee, no contract to sign, no urgency, and no specific dollar amount in the notice. The return address is a state agency. **Finder-fee pitches.** Private firms (sometimes called 'asset locators' or 'recovery specialists') subscribe to the same public state unclaimed-property databases that everyone else can search free. They cross-reference names against public records, mail letters offering to 'recover' the property for a percentage of the recovered amount, and ask you to sign a contract authorizing them to act on your behalf. They typically don't tell you the state has the money — that would defeat the pitch — but they reference the property in vague terms and emphasize urgency. The two are easily distinguished once you know what to look for. The trouble is most people don't know unclaimed property is a real category, so they assume any notice referencing it is a scam. Some are; many aren't. The right move is to verify directly through the state regardless of which type of letter arrived.

**1. A specific dollar amount in the letter.** State notices don't disclose specific amounts in the outreach mailing — partly for privacy, partly because the state typically updates valuation at claim time. Finder firms include the amount as a hook ('Records indicate you may be entitled to $1,247.83'). If the letter quotes a dollar figure, it's almost certainly a finder. **2. A percentage fee.** Any letter that mentions a fee — typically 10% to 35% — is a finder. State recovery is always free. **3. The postmark falls within 24 months of the property being reported.** Most state finder-fee statutes prohibit finder firms from soliciting on a property until 24 months after it's been reported as unclaimed. If the property was just reported (within the last year or two) and a finder is already pitching, the contract is often legally unenforceable in your state. The early-pitch is itself a tell. **4. A private domain name.** State websites end in .gov (or, for state-affiliated services, .com domains explicitly tied to NAUPA or a state treasury). If the letter directs you to a .com or .net domain that isn't unclaimed.org, missingmoney.com, or your state's official portal, treat it with suspicion. Many finder firms operate under polished-sounding domains designed to look quasi-official. If any one of these is present, the letter is a finder pitch. If two or more are present, you can throw the letter away and search the state directly.

**Legitimate state notice (typical):** - From: 'California State Controller's Office, Unclaimed Property Division.' - Says: 'Our records show you may have unclaimed property. Please visit claimit.ca.gov to search and file a claim.' - Includes: a claim ID, the state's URL, a phone number staffed by state employees. - Does NOT include: a specific amount, a fee, a contract, an urgency clause, a self-addressed envelope. **Finder-fee pitch (typical):** - From: 'Asset Recovery Specialists, LLC' or similar. - Says: 'Our investigation indicates you are entitled to $XXX.XX in unclaimed funds. We can assist in the recovery of these funds for a fee of XX%.' - Includes: a specific dollar figure, a contract, a percentage fee, an instruction to call within 14 days. - Does NOT include: a clear statement that you can claim the property yourself for free. **Outright scam (less common but increasingly via text):** - From: an unknown phone number or generic email. - Says: 'You have unclaimed money. Click here to claim.' - Asks for: SSN, bank account number, or upfront 'processing fee.' - The link goes to a phishing site impersonating a state portal. Real state portals never ask for full SSN upfront, never ask for a processing fee, and never require payment to claim.

In March 2026 the FTC's Consumer Sentinel issued a fresh alert flagging an uptick in text-based unclaimed-money scams imitating state outreach. The pattern: a text from a short code or unfamiliar number, with a message like 'Final notice: you have $X in unclaimed property. Claim by [date] at [shortened URL].' The shortened URL leads to a fake state portal that harvests SSN, date of birth, and bank account number, then either disappears with the data or processes the data through identity-theft channels. The alert reiterated three rules that have always applied to unclaimed-property recovery: - States never communicate via text about unclaimed property. (Some states use email; none currently use SMS as the primary outreach.) - States never charge a fee to search or claim. - States never ask for full SSN through an unsolicited link. State portals require SSN at claim time, but only after you've initiated the search yourself by going to the official portal directly. If you receive a text purporting to be about unclaimed money, ignore the link in the text and go directly to your state's official portal at our state index. Search by name. If property exists, the legitimate state portal will show it; if it doesn't, the text was a scam.

Some states require finders to register with the state and follow specific disclosure rules. Registered finders are not scams — they're legitimate businesses operating within state law. But registered or not, the underlying offer is still 'pay me a percentage to do paperwork you could do yourself.' States with finder-registration requirements include California (under the Bond and Investment Counsel Act for certain higher-value claims), Pennsylvania (finder licensing under 70 P.S. §240.1 et seq.), Florida (Fla. Stat. §717.135 requires registration), Texas (Property Code §74.507), and several others. These states publish lists of registered finders on the state treasurer's site. Verify any letter against the registered list before assuming legitimacy. Even for registered finders, the math doesn't work. A state finder fee cap of 10% to 30% means you're paying $100 to $300 on every $1,000 of property — for a one-page form and a notarized signature. The narrow scenarios where a finder is genuinely useful (multi-state heir claims, mineral-rights tracing, high-value securities with complex corporate-action history) almost always involve specialized expertise, not just paperwork — and even those are usually better hired as flat-fee work through a probate attorney or estate specialist.

Three steps in order. **1. Ignore the letter or text itself.** Don't call the number. Don't click the link. Don't sign anything. Don't pay anything. **2. Go directly to your state's official portal.** Find your state on the state index and click through. Or run the multi-state search if you're not sure which state holds the property. Type your name into the official search and see what's actually there. The truth is in the state's database, not in the letter. **3. File the claim directly with the state, free.** If property exists, file the claim form on the state's official portal. Owner claims process in 30 to 90 days for amounts under $1,000, longer for larger amounts or heir claims. The state pays you directly by check or direct deposit. No third party is involved. After you've filed, you can throw the letter away. The finder firm has no claim against you unless you signed something. State outreach notices are informational only — there's no obligation to act through any specific channel, and the state will accept your claim regardless of how you became aware of the property.

Often yes. State finder-fee statutes typically include rescission rights — a window during which you can cancel a signed finder contract and reclaim the full property. Common rescission terms: - **24-month unenforceability.** In many states, finder contracts signed within 24 months of the property being reported are unenforceable from the start. Even if you signed, the contract has no legal effect. - **Statutory cooling-off period.** Several states give you a 3- to 30-day window to rescind any finder contract for any reason. - **Disclosure-based voidability.** Contracts that don't include statutorily-required disclosures (the cap, your right to claim directly, the contact information for the state) are typically voidable at the consumer's option indefinitely. If you've signed and want out, send a written rescission letter by certified mail to the finder firm at the address on the contract. Reference your state's finder-fee statute. Demand return of any property the finder has already claimed on your behalf and confirmation that the contract is rescinded. Most reputable finders will accept rescission without dispute. Disreputable ones will fight; the state attorney general's office takes complaints on this exact issue. See the finder-contract rescission guide for the state-by-state procedure.

Throw the letter or text away. Go to the state portal, search your name, file the claim directly. If the property is real, you'll have it in 30 to 120 days, free. If the property doesn't exist, the letter was a scam — file a complaint with the FTC at reportfraud.ftc.gov. Related reading: how to cancel a finder contract you already signed, the 50-state portal index, and the federal-and-state map of where old money lives. The state has the money. The finder is just selling you a longer route to the same place.