States Seize Citizens' Property to Balance Their Budgets

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	States Seize Citizens' Property to Balance Their Budgets

cheapogroovo

5-15-2008 9:29 AM

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tags:

property, banks, government, illegal seizures

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The 50 U.S. states are holding more than $32 billion worth of unclaimed property that they're supposed to safeguard for their citizens.  But a "Good Morning America" investigation found some states aggressively seize property that isn't really unclaimed and then use the money -- your money -- to balance their budgets.
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San Francisco resident Carla Ruff's safe-deposit box was drilled, seized, and turned over to the state of California, marked "owner unknown."</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://abcnews.go.com/print?id=4832471"><P>
Unknown?  Carla's name was right on documents in the box at the Noe Valley Bank of America location.  So was her address -- a house about six blocks from the bank.  Carla had a checking account at the bank, too -- still does -- and receives regular statements.  Plus, she has receipts showing she's the kind of person who paid her box rental fee.  And yet, she says nobody ever notified her.
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