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Inactive bank account and unclaimed property laws that concern money eventually being handed to the state (MD)
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Stuck_In_the_Matrix is in Maryland
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What happened

We received a letter today from a bank addressed to a Polish national that never obtained US Citizenship and used to live with my parents and younger brother. This person married my brother and was married when the account was opened. The letter stated that her account has been inactive for 3 years which means it is considered abandoned and that the money will be given to the state of Maryland on February 15, 2019 unless she claims the money.

How we would like to ideally resolve this

This person is currently living in Poland and is not a US citizen -- so I don't know the logistics of her being able to claim the money in her present situation. We'd like for her to get the money first, but on the human front, it's always possible my younger brother and her had a huge falling out so she may just not care. If she does not care or hangs up on him -- refuses contact, our next option is to claim the money through my brother.

Once married, now divorced

The account was opened when they were married. I do not know if my brother was a signee for the account / if the account was a joint account. It appears the account was in her name only at this point. If they were married when the account was opened, I would think that my brother may be entitled to some part of the money. If she will not work with him, I would rather he get the entire lump sum of money.

What we don't want to happen

We don't want the state to get free money. Ideally she would get the money first and if that doesn't work out, we would have some recourse to claim the money (I am assuming this would require some type of order from a judge ordering the bank to give the money to my brother -- but I don't know what kind of motion / order is involved in this type of unclaimed property law).

TL;DR

Bank sends notice of inactive bank account with a lot of money in it. Addressee no longer lives in country but lived at parent's address where the letter was addressed. Younger brother was married at time to her but now divorced. How do we avoid the state getting the money by Feb 15th?

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Posted
5 years ago