NPR did an interesting story on U.S. States taking possession of unclaimed property. This property extends from real estate to jewelery to un-cashed checks. The story immediately brought to mind the old saying, “Possession is nine tenths of the law,” and the term “eminent domain” also came to mind. All of the preceding terms are merely different ways in which the state can exercise power over the citizenry.

What options does a person have when the law is stacked against them, however unfairly? Anyone that is a victim of the state claiming their property might be able to take office-x to court, but do most people have the money to retain the legal council to win that battle?

This is ridiculous. Who is going to have an unclaimed piece of property? At the very least, people have to pay taxes on it. There is no way that is could unclaimed for any substantial period of time. I initially thought the same thing, but consider two things, and be patient with the explanation.

One: Real estate (or property, at least) is the basis of inherited wealth. After the Civil War, freed slaves were promised 40 acres and a mule, not money or gold bullion. If you invest in land today, you would be hard pressed to loose money on that investment.

Two: Imagine that someone owns a house. For whatever reason, said person suffers an untimely demise. Because of the untimely demise, he was unable to put his affairs in order (make out will, contact family, etc…) The nearest relatives live in a foreign country and do not check in very often. By the time they get around to looking for passed relative, the state has seized the property.

Still sound crazy? Listen to the report (top link). Some states spend hundreds of thousands of dollars investigating property that they can seize, but only thousands on locating rightful owners. Add to this people loosing their homes because they cannot keep up with taxes, changing building codes, and/or inflation in mortgage rates. Still seem far-fetched?