Finder fee
A finder fee is what a private finder or locator charges to find unclaimed property and help you claim it, usually a percentage of what is recovered.
Also called: finder's fee, locator fee, unclaimed property finder fee
A finder fee is what a private finder or locator charges to find unclaimed property and help you claim it, usually a percentage of what is recovered.
What it means
In unclaimed money, a finder fee is the price a private finder, also called a locator or heir hunter, charges to find property in your name and help you claim it. It is usually a percentage of the amount recovered.
You can search for and claim unclaimed property yourself at no cost through your state's official program, so a finder mostly sells convenience. Many states require finders to register or follow rules, and some cap the fee. The caps differ widely. Washington makes a locator agreement unenforceable if it charges more than 5 percent of the expected recovery, and agreements with attorneys are treated separately. Florida limits total fees and costs to 30 percent of the claimed amount and allows them to be paid only after the state approves the claim.
Some states also require a signed written agreement that shows what you would receive before and after the fee.
What it means for you
Before you sign anything, find out whether the money is really there and which state holds it. A free search on your state's official site or MissingMoney.com can show the same property a finder is offering to find for a fee. If you still want help, ask for the percentage in writing, check that the finder is registered where your state requires it, and ask what you would receive after the fee. A letter that pressures you to act fast or asks for an upfront payment is a warning sign. Official state programs do not charge a fee to claim your property.
Example
Say a finder writes that $800 is waiting in your name and asks for 25 percent. You search your state's official site and find the same $800. Filing there takes a form and proof of identity, and you keep all of it. Had you signed the finder's agreement, you would have received $600, and only if your state allows a fee that high.
FAQ
Usually not. Searching and claiming through your state's official program costs nothing, and a finder's cut comes out of your money. A finder may help with a complicated case, such as an estate with several heirs, but check the fee and the contract first.
In many states, yes, but the limit varies. Washington makes agreements above 5 percent of the expected recovery unenforceable, and Florida caps total fees and costs at 30 percent. Check your own state's unclaimed property office.
Related terms
- NAUPA, Is it really free to search?
- Washington RCW chapter 63.30, sections 63.30.780 and 63.30.790 (agreements to locate property)
- Florida Statutes section 717.135 (recovery agreements and fee limits)
Updated Oct 18, 2026. Plain-English definitions for general information — not legal or tax advice.