| What is the ARS fee and when is it payable? |
|
| The ARS fee varies from 10% to 33% of the value of the property recovered by the |
| Client. The fee becomes due and payable when the property is in the possession of |
| the Client. If for any reason the Client or Affiliated Parties are unable to recover the |
| property, then clearly no fee is due to ARS. |
|
| Are there upfront fees required by ARS? |
|
| NO. ARS is solely responsible for any upfront out-of-pocket expenses incurred by ARS |
| and ARS is compensated if and when the property is recovered by the Client. |
|
| Is the property on our company books? |
|
| No. We identify property that has been clearly abandoned. |
|
| Is it worth my time to proceed with the "recovery process"? |
|
| Yes. In general we identify property with a present market value in excess of $5,000. |
| The time to prepare documentation in support of the recovery process may vary from 2 |
| to 4 hours. |
|
| How long does it take to recover the abandoned property? |
|
| Depending on the nature of the property, recovery may take from 1 to 3 months from |
| the time claiming documents were submitted to the holder of the property ( lawyer, |
| company, agency, etc.). Claims relating to estates and class actions may have a |
| recovery period from 6 months to 2 years. |
|
| Does ARS pay my attorney's fees? |
|
| In the vast majority of claims the services of an attorney are not required aside from |
| the notarization of various documents. The services of an attorney are usually required |
| in support of a claim relating to an estate. ARS is not responsible for attorney fees |
| incurred by a Client. |
|
| Does my underlying title to the property lapse after a specified period of time? |
|
| In general title remains with the owner in perpetuity. However, with certain property |
| classes, ownership rights do lapse after a specified period of time. |
|
| What documents are required to recover abandoned the property? |
|
| This will vary depending on the type of property being recovered. See web page |
| "Recovery". |
|
| How did this property result in being classified as abandoned? |
|
| In the vast majority of cases individuals were not aware of the existence of the property. |
| i.e. inheritances from a relative. For companies the property may be an off balance sheet |
| item not subject to various audit controls. Frequently a lack of communication by the |
| holder of the property and the individual/company (title holder) has resulted in the |
| property being classified as abandoned. |
|
| I am skeptical. What is the catch? |
|
| Clearly from our RISK FREE FEE arrangement the recovery process is of mutual benefit |
| to both parties. We do not engage in "fishing expeditions". We contact only those |
| individuals or companies where we have clearly identified abandoned property to which |
| an individual or company is legally entitled to |
