Frequently Asked Questions 
Below is a list of common questions that are frequently asked by our clients. Please take the opportunity to see if your specific question is answered in this section. Just click on one of the links below or scroll through the entire list and simply browse.
- How long does it take for you to complete my claim or note transaction?
- There really isn't a short answer to this question. Some cases can be completed in just a couple of weeks and some may take months. This is determined by the complexity of the specific case and the specific investors or government agencies involved. We go to great lengths to streamline either process, whether it is relative to your unclaimed fund claim or cash flow note transaction, as much as we can for you. Return to top.
- What is "proof"?
- Proof is evidentiary documentation that is required to some extent in any business dealings we will have with you. Typically, we will ask you to provide us with copies of specific documents that will be instrumental in completing the business at hand, whether it is for the sale of your cash flow note or for the recovery of your unclaimed funds. Copies of documentation you provide to us will be handled in the strictest of confidence and will only be shared with official government offices or legitimate licensed brokers and agents in order to complete our joint business transaction. Return to top.
- Why do I need to provide proof if I've already told you about everything I have?
- Our business colleagues and government agency staff require specific and sometimes substantial documentation as required by law in order to release funds or transfer ownership. Therefore, the copies of proof we will ask for from you is only what we have determined is necessary to complete your business transaction. We understand that some sensitive personal information may be required from you such as copies of personal identification. This information will not be shared for any other purpose than to complete our services for you. It will be held by our company in the strictest of confidence. Please click on the “Confidentiality” link above for additional information.Return to top.
- Where will my check be mailed?
- If we are representing you in claiming unclaimed funds, you will have authorized us to act on your behalf via a signed specific power of attorney document. Once the claim is approved by the custodial government agency, the check will be issued in the names of both Equity Advocates LLC and the owner of the funds. The check is then mailed to us. Once received, we will promptly issue you a check in the agreed upon amount, as per our written agreement, and send it to you via certified mail. For discounted cash flow notes, your check will be mailed to you immediately following the closing of the sale by the appropriate financial institution. Return to top.
- Where can I find a notary?
- Since several forms and other documents such as affidavits may be required to be notarized, a notary public can be found at your local bank, city, county and state offices, police and sheriff departments, and most attorneys’ offices. Your notarized signature is a legal commitment on your part that states whatever facts you are disclosing or making claim to are true to the best of your knowledge.Return to top.
- What is the “Time Value” of money?
- The time value of money is simply that money is worth more today than it will be in the future. Remember when gasoline was $1.50 per gallon and movie tickets were not nearly as expensive as they are today? This is the reason that you can buy more with your money now than you can in the future. That’s what happens with inflation and other economic factors. Because of the time value of money, you may want to consider getting a lump sum of cash for that real estate cash flow note or other cash flow note you may currently be holding.Return to top.
- What benefits are there to selling my real estate cash flow note or other cash flow notes?
- One reason is that you will have the advantage of the buying power of a lump sum of money instead of receiving small monthly payments. Also, selling your cash flow note can enable you to immediately pay off some tax debt or credit card debt. Some people use the money they obtain after selling their cash flow note to take that dream vacation, pay for a college education, or buy a new home.Return to top.
- What is an unclaimed fund or unclaimed property?
- Unclaimed Property is legally defined as any financial asset that has been left inactive by the owner for a specified period of time (usually 3 to 5 years). The most common types of unclaimed funds or unclaimed property are:
- Bank accounts and safe deposit box contents
- Stocks, mutual funds, bonds, and dividends
- Uncashed cashier's checks and money orders
- Certificates of deposit
- Matured or terminated insurance policies
- Estates
- Mineral interests and royalty payments
- Trust funds and escrow accounts
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- Is there a time limit for claiming your unclaimed funds?
- In some states and counties there is a defined period of time for someone to claim these funds. Once that timeframe is exhausted, the funds can be sent to the general revenue. However, in other states, the unclaimed property account is held in perpetuity for the owner, or the owner's heirs, until a claim is received and paid.Return to top.
- What institutions are governed by Unclaimed Funds Law?
- Institutions governed by Unclaimed Property Law are banks, savings and loan associations, credit unions, insurance companies, utilities, business associations, and any other organization or person in possession of property subject to the law.Return to top.
IF YOU HAVE OTHER QUESTIONS PLEASE CONTACT US BY PHONE, FAX OR E-MAIL AND WE WILL RESPOND AS SOON AS WE CAN. THANK YOU. |