With Unclaimed Property & Funds, Who Has Burden of Proof?
Unclaimed property laws are often complicated and confusing. When do companies have to report this money? How does a consumer claim this money? How long does the government hold the money? All great questions… the problem is that there is no standard answer…
Often referred to as the burden of proof, the burden of persuasion can be very significant. The party who has this burden must convince the court; otherwise he loses!
The burden of persuasion falls to the state as it must convince the court that the property in question is in fact presumptively abandoned. Usually the states have met this burden.
The Commissioners on Uniform State Laws recognized this difficulty and responded with a new provision in the 1995 Uniform Unclaimed Property Act. Section 6 of this latest version of the model legislation reads as follows:
Section 6. Burden of Proof as to Property Evidenced by Record of Check or Draft.
A record of the issuance of a check, draft or similar instrument is prima facie evidence of an obligation. In claiming property from a holder who is also the issuer, the administrator’s burden of proof as to the existence and amount of the property and its abandonment is satisfied by showing issuance of the instrument and passage of the requisite period of abandonment. Defenses of payment, satisfaction, discharge and want of consideration are affirmative defenses that must be established by the holder.
Every state has its own set of unclaimed property laws, its own database of unclaimed money and its own system for holding and claiming funds. Cash Unclaimed Money Search has simplified this process and pulled all this information into one big searchable database where you can search for and claim your unclaimed property.
For more information, visit – www.CashUnclaimed.com
