Delaware’s unclaimed property laws challenged in a new lawsuit

Delaware’s unclaimed property laws challenged in a new lawsuit

Why Should Delaware Care?About 7% of Delaware’s budget comes from its ability to cash out unclaimed property. While escheatment is common nationwide, Delaware’s program has drawn persistent criticism and legal challenges from opponents who say the state improperly claims funds from transactions with little or no connection to Delaware. Further reductions to the state’s claims could place higher tax burdens on the public. Delaware’s unclaimed pro…