Legal Question in Investment Law in District of Columbia

Oil Royalties as Unclaimed Property

My deceased mother had bought oil shares when I was--name removed--child in my name. The funds were supposed to be sent to the her bank. The bank is now defunct. Years before her death, she tried to claim the money and was turned away and told the bank was out of business (which is true). I discarded her browned banking receipts not knowing about the royalties or her attempt to get the funds, when I cleaned her estate upon her death. The funds from the bank in my name were turned over to DC Unclaimed Property. Three things are required for me to collect: copy of license, social security card, and the discarded banking info or oil accounts. I do not have the info or account info anymore. Is there anything I can do?

Asked on 1/04/05, 7:52 am

1 Answer from Attorneys

Michael Hendrickson Law Office Michael E. Hendrickson

Re: Oil Royalties as Unclaimed Property

Even if you no longer have the specific account numbers from the financial institution which had held the deposits, if you can clearly establish

your identity as a link to the unclaimed property

and the specific information which the DC agency may have regarding this property when it was turned over to them, you might still prevail on your claim if you can present and argue for it to the right people.

Otherwise, you'll have to consider it as your involuntary contribution to the new stadium.

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Answered on 1/10/05, 12:04 pm

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