A finder's fee is a fee paid to someone who acts as an intermediary for another party in a transaction. Finder's fees may be offered in a variety of situations. For example, an employer may pay a finder's fee to a recruitment agency upon hiring a new employee referred by that agency. A finder's fee may be paid regardless of whether a transaction is ultimately consummated.
In a real estate context, a finder's fee may be paid for locating property, obtaining mortgage financing or referring sellers or buyers. A finders fee is money paid to a person for finding someone interested in selling or buying property. To conduct any negotiations of sale terms, the finder may be required to be a licensed broker or he violates the law. However, state laws, which vary by state, may also provide an exemption for certain individuals, allowing them to be compensated without the necessity of licensure. For example, one state's law allows an exemption for either a property management firm or an owner of an apartment complex to playa finders fee or referral of up to $50 to a current tenant for referring a new tenant. The fee can be in the form of cash, a rental reduction or some other thing of value. The party claiming compensation under this exemption is not allowed to advertise for prospective tenants.
Because they aren't technically held by the state, real estate created overages aren't subject to those finder fee limits. In fact, they're usually not subject to any limits at all (within reason... charge 95%, and you may be asking for a lawsuit). 30-50% is standard for those who specialize in collecting those funds.
These are the funds that are created when more is bid at auction for tax foreclosure and mortgage foreclosure properties. Those overages are more often than not due back to the former owners. Unfortunately for them, most don't realize this, and walk away from their financial mess without realizing they may have a small windfall awaiting them. Then, if they don't figure it out in time, they lose it to the agency holding the funds.
An Alaska Agreement to Attempt to Locate Unclaimed Property of Client is a legal document that outlines the agreement between a client and an entity or individual, typically referred to as a "locator," to help locate and recover any unclaimed property or assets belonging to the client. The aim is to assist clients in reclaiming their lost or forgotten funds, whether it be bank accounts, insurance policies, stocks, bonds, or other valuable assets. This agreement is beneficial for individuals who believe they may have unclaimed property but lack the time, resources, or knowledge to search for and recover it on their own. By entering into this agreement, clients authorize the locator to act as their representative in locating and recovering any unclaimed property in exchange for a fee or a percentage of the assets recovered. The Alaska Agreement to Attempt to Locate Unclaimed Property of Client is designed to meet the specific requirements and regulations of Alaska state law. It ensures compliance with the Alaska Unclaimed Property Act and other relevant statutes to safeguard the rights of both the client and the locator. Different types of Alaska Agreements to Attempt to Locate Unclaimed Property of Client may include: 1. Individual Client Agreement: This type of agreement is tailored to individuals seeking assistance in locating and recovering their unclaimed property. It includes provisions regarding the scope of the search, the fee structure, and the responsibilities of both the client and the locator. 2. Business Client Agreement: Businesses, including sole proprietors, partnerships, corporations, or organizations, can also enter into an agreement to attempt to locate unclaimed property specific to their entity. This agreement may address additional complexities related to business assets, such as accounts receivable, unwashed checks, or outstanding debts. 3. Estate Agreement: Executors or administrators of an estate may require assistance in locating any unclaimed property belonging to the deceased. An estate agreement outlines the responsibilities of the locator in helping to locate and recover assets for the estate's beneficiaries or heirs. 4. Financial Institution Agreement: Financial institutions, such as banks or credit unions, can enter into a specialized agreement with a locator to assist in identifying and recovering unclaimed property held by their customers. This agreement ensures compliance with banking regulations and establishes the terms of engagement between the entity and the locator. The Alaska Agreement to Attempt to Locate Unclaimed Property of Client acts as a legal framework to facilitate the search and recovery of unclaimed assets for individuals, businesses, estates, or financial institutions. By engaging a qualified and experienced locator, clients can increase their chances of reclaiming their rightful property and mitigating the risk of loss or abandonment.
