Terms of Service

1. Agreement to Terms

These Terms of Service ("Terms") form a binding legal agreement between you ("Client," "you," or "your") and Foreclosure Recovery Inc., a Wyoming corporation doing business as My State Funds ("Company," "we," "our," or "us"). By accessing mystatefunds.com (the "Website"), submitting a search query, signing a Recovery Agreement, or otherwise using our services, you acknowledge that you have read, understood, and agree to be bound by these Terms.

If you do not agree to these Terms, do not use the Website or our services. We reserve the right to modify these Terms at any time. Your continued use of the Website following any changes constitutes acceptance of those changes. We will notify existing clients of material changes via the email address on file.

These Terms are supplemented by and should be read alongside our Privacy Policy, which describes how we collect and process your personal data, and any individual Recovery Agreement you sign with our Company.

2. Definitions

• "Unclaimed Property" means financial assets reported to and held by a state government agency under that state's unclaimed property, escheatment, or abandoned property statutes. This includes but is not limited to forgotten bank accounts, uncashed checks, insurance proceeds, security deposits, safe deposit box contents, and other financial instruments.
• "Foreclosure Surplus" (also "Foreclosure Overage") means excess proceeds from a mortgage foreclosure sale after satisfaction of all senior liens, outstanding mortgage balances, accrued interest, legal fees, and sale costs. These funds are typically held by the court or state for the benefit of the former property owner.
• "Tax Sale Overage" (also "Tax Surplus") means excess proceeds from a tax lien sale or tax deed sale after payment of delinquent taxes, penalties, interest, and sale costs. These funds are held by the state or local government for the former property owner.
• "Mortgage Overage" means the difference between the foreclosure sale price and the total debt owed on the mortgage, resulting in surplus funds payable to the former borrower or their successors in interest.
• "Recovery Agreement" means the separate written contract between you and the Company, executed prior to the commencement of recovery services, which specifies the contingency fee percentage, scope of work, and claim-specific terms.
• "Power of Attorney" (POA) means a legal instrument authorizing the Company or its designated agents to act on your behalf in communications with state agencies, filing claim forms, and executing documents necessary for the recovery process.
• "Contingency Fee" means the percentage of successfully recovered funds that constitutes our service fee. This fee is earned only upon actual disbursement of funds to you.
• "Heir" means any individual or entity with a legal right to claim property or funds belonging to a deceased person, whether through intestate succession, a valid will, trust, or court order.

3. Eligibility

To use our services, you must be at least 18 years of age and legally competent to enter into binding contracts. If you are acting on behalf of a minor, estate, trust, or business entity, you must have the legal authority to do so and must provide documentation of such authority upon request.

You must be the rightful owner of the unclaimed property, a legal heir of the rightful owner, a court-appointed personal representative or executor of the owner's estate, a trustee of a trust that holds an interest in the property, or an authorized representative of a business entity that owns the property. We reserve the right to verify your identity and legal standing before initiating recovery services.

4. Services Description

Foreclosure Recovery Inc. provides professional asset recovery and claims administration services. Our services include, but are not limited to:

• Searching federal, state, and local databases for unclaimed property records associated with your name or business
• Identifying and verifying potential claims, including foreclosure surplus funds, tax sale overages, mortgage overages, and general state unclaimed property
• Preparing, assembling, and filing claim forms and supporting documentation with the appropriate state agencies
• Communicating with state treasuries, comptroller offices, courts, and other government entities on your behalf
• Gathering and organizing required documentation such as proof of identity, proof of ownership, deeds, mortgage statements, probate records, and death certificates
• Tracking claim status and providing regular updates throughout the recovery process
• Coordinating with licensed Private Investigators, attorneys, or other professionals when required by state law or claim complexity

We do not provide legal advice, tax advice, investment advice, or financial planning services. Our role is limited to administrative claims processing and recovery assistance.

5. Recovery Process

The recovery process begins when you execute a Recovery Agreement authorizing us to pursue a specific claim or set of claims on your behalf. The typical process includes the following steps:

Identification and Verification: We confirm that the unclaimed property exists, verify the holding agency, and determine the estimated value and applicable claim requirements. We cross-reference public records, state databases, and proprietary research tools to validate the match between you and the reported property.

Documentation Gathering: We work with you to compile all necessary documentation. Requirements vary by state and claim type, but commonly include government-issued photo identification, proof of current address, proof of ownership or entitlement (deeds, mortgage statements, estate documents), and notarized claim forms.

Claim Filing: We prepare and submit the claim package to the appropriate state agency. We ensure all forms are completed accurately and all supporting documents meet the agency's requirements.

Follow-Up and Resolution: After filing, we monitor the claim, respond to any additional requests from the state agency, and keep you informed of progress. Processing times vary significantly by state--from as few as 15 days to as many as 180 days or more for complex claims.

Disbursement: Once the state approves your claim, funds are disbursed according to your Recovery Agreement. Our contingency fee is deducted from the recovered amount, and the remaining balance is paid to you by check or wire transfer.

6. Power of Attorney

Certain states and claims require the execution of a limited Power of Attorney (POA) authorizing us to act on your behalf. This POA is limited in scope to activities directly related to the recovery of your unclaimed property and does not grant us authority over any other aspect of your affairs.

The POA typically authorizes us to: communicate with state agencies regarding your claim; sign and submit claim forms and related paperwork on your behalf; receive correspondence and status updates from government entities; and take other administrative actions necessary to process your claim. You may revoke the POA at any time by providing written notice to us. Revocation may result in the inability to continue processing your claim.

7. Heir and Estate Claims

If you are claiming unclaimed property on behalf of a deceased person's estate, additional documentation and procedures apply. Heir claims typically require:

• A certified copy of the death certificate
• Proof of heirship (will, trust document, court order, or affidavit of heirship)
• Letters testamentary or letters of administration from the probate court, if applicable
• Government-issued identification for each heir
• A small estate affidavit (in states that allow this in lieu of full probate for smaller claims)

When multiple heirs exist, all heirs must consent to the recovery or a single heir must have legal authority (through court appointment or agreement) to act on behalf of the estate. We assist with coordinating multi-heir claims but do not mediate disputes among heirs. If a dispute arises, we may require a court order or mutual written agreement before proceeding.

Some states impose additional requirements for heir claims, including affidavits from disinterested witnesses, genealogical proof, or probate court involvement. We are familiar with these requirements across all 50 states and will advise you on what documentation is needed for your specific situation.

8. No Guarantee of Results

While we make every reasonable effort to recover unclaimed funds on your behalf, we cannot and do not guarantee the outcome of any claim. Approval or denial of claims rests solely with the applicable state agency. Factors beyond our control that may affect claim outcomes include:

• Changes in state law or agency procedures after claim submission
• Prior disbursement of funds to another claimant
• Government liens, tax levies, or court orders that reduce or eliminate the available balance
• Insufficient documentation that cannot be obtained despite reasonable efforts
• The state agency determining that you are not the rightful owner or heir
• Administrative delays, backlogs, or errors by the state agency

Estimated values displayed during the search process are based on publicly available data and may not reflect the actual amount recoverable. The final recovered amount may be higher or lower than the estimate due to interest accrual, deductions for government liens, or corrections by the state agency.

9. Fee Structure

Our services are provided on a contingency-fee basis. You pay nothing upfront. Our fee is a percentage of the funds we successfully recover, as specified in your individual Recovery Agreement. If we do not recover any funds, you owe us nothing.

The specific contingency fee percentage is determined by: the state in which the property is held (as some states impose statutory fee caps); the type of property being recovered (foreclosure surplus, tax overage, or general unclaimed property); the estimated value of the claim; and the complexity of the recovery process (e.g., heir claims, multi-state claims, or claims requiring legal involvement).

Our fee never exceeds the maximum percentage allowed by the applicable state's laws and regulations. In all cases, the exact fee percentage will be clearly stated in your Recovery Agreement before any work begins. You will never be charged more than the agreed-upon percentage.

We do not charge for: initial property searches on our website; preliminary verification of potential claims; or consultations about your claim's viability. Fees are incurred only after you sign a Recovery Agreement and we successfully recover funds.

10. State Fee Caps and Compliance

Each state regulates the fees that asset recovery agents and finders may charge. We comply with all applicable fee limitations. The following is a summary of fee cap ranges across major categories. Specific caps for your claim will be detailed in your Recovery Agreement:

Foreclosure Surplus Recovery: Most states permit contingency fees of up to 30% for foreclosure surplus recovery. Some states impose lower caps: Tennessee limits fees to 10% of the recovered amount (plus reimbursement of documented out-of-pocket expenses); Nevada and Arizona cap fees at $2,500 per claim for certain property types; Colorado allows up to 20% but imposes a 24-month waiting period after escheatment before finder agreements are valid; Florida limits fees to 12% plus documented Private Investigator costs and requires a $500,000 surety bond.

Tax Sale Overage Recovery: Fee caps for tax sale overages are often regulated separately from foreclosure surplus. Arkansas caps finder fees at 10% for tax-related surplus. Many states apply the same cap structure to both foreclosure and tax sale recoveries, while others have distinct regulations. Your Recovery Agreement will specify the applicable cap for your claim type.

General Unclaimed Property (State Escheatment): General unclaimed property finder fees are governed by each state's Uniform Unclaimed Property Act or similar legislation. Caps range from 5% in Washington state to 33% in certain other jurisdictions. Many states impose waiting periods (typically 24-36 months after escheatment) before a finder agreement is enforceable. Some states require the finder agreement to be in writing and to include specific disclosures.

We continuously monitor changes in state fee regulations and adjust our agreements to remain in full compliance. If a state lowers its fee cap after you sign a Recovery Agreement but before recovery is complete, we will honor the lower cap.

11. Payment Terms

Upon successful recovery, our fee is calculated as the agreed-upon percentage of the gross amount recovered. The fee is deducted before disbursement of the net proceeds to you. Payment of the net proceeds is made via check or wire transfer to the address or account you designate.

If the state agency disburses funds directly to you rather than through us, you agree to remit our fee within thirty (30) days of receiving the funds. Failure to remit our fee after receiving recovered funds constitutes a breach of the Recovery Agreement, and we reserve the right to pursue collection through all available legal remedies, including filing a lien, pursuing arbitration, or initiating legal proceedings. You will be responsible for any reasonable collection costs, court fees, and attorney fees incurred.

We do not charge interest on outstanding fees during the initial 30-day payment window. After 30 days, a late fee of 1.5% per month (or the maximum allowed by law, whichever is lower) may apply.

12. Not a Law Firm

Foreclosure Recovery Inc. is not a law firm, and no employee or representative of the Company is authorized to practice law or provide legal advice. Nothing on this Website, in our communications, or in any documents we prepare constitutes legal advice.

Our services are administrative in nature. We assist with the preparation and filing of claim forms, document gathering, and agency communications. If your claim involves contested ownership, litigation, quiet title actions, complex probate matters, or other issues requiring legal representation, we will recommend that you consult with a licensed attorney. In states where attorney involvement is required (such as Georgia for certain surplus recovery claims), we will coordinate with qualified attorneys on your behalf, and any legal fees will be disclosed separately.

13. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, FORECLOSURE RECOVERY INC., ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AND AFFILIATES SHALL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, OR PUNITIVE DAMAGES, INCLUDING BUT NOT LIMITED TO LOSS OF PROFITS, DATA, USE, GOODWILL, OR OTHER INTANGIBLE LOSSES, ARISING OUT OF OR IN CONNECTION WITH YOUR USE OF OUR SERVICES.

OUR TOTAL AGGREGATE LIABILITY FOR ALL CLAIMS ARISING OUT OF OR RELATED TO THESE TERMS OR OUR SERVICES SHALL NOT EXCEED THE TOTAL FEES ACTUALLY PAID BY YOU TO US DURING THE TWELVE (12) MONTHS PRECEDING THE EVENT GIVING RISE TO THE CLAIM, OR ONE THOUSAND DOLLARS ($1,000), WHICHEVER IS GREATER.

This limitation applies regardless of the theory of liability (contract, tort, strict liability, or otherwise) and even if we have been advised of the possibility of such damages. Some jurisdictions do not allow the exclusion or limitation of certain damages, so certain of the above limitations may not apply to you. In such jurisdictions, our liability is limited to the greatest extent permitted by law.

14. Indemnification

You agree to indemnify, defend, and hold harmless Foreclosure Recovery Inc. and its officers, directors, employees, agents, and affiliates from and against any and all claims, liabilities, damages, losses, costs, and expenses (including reasonable attorney fees) arising out of or related to: (a) your breach of these Terms or any Recovery Agreement; (b) your provision of false, misleading, or incomplete information; (c) your violation of any law, regulation, or third-party right; or (d) any dispute between you and any third party regarding ownership of the unclaimed property.

15. Dispute Resolution

In the event of any dispute arising out of or relating to these Terms, the Recovery Agreement, or our services, the parties agree to first attempt to resolve the dispute through good-faith informal negotiation. You may contact us at [email protected] or (888) 545-8007 to initiate the negotiation process. If the dispute is not resolved within thirty (30) days of the initial contact, either party may proceed to binding arbitration as described below.

16. Binding Arbitration

Any dispute, controversy, or claim arising out of or relating to these Terms, the Recovery Agreement, or our services that is not resolved through informal negotiation shall be settled by binding arbitration administered by the American Arbitration Association (AAA) under its Consumer Arbitration Rules. The arbitration shall take place in Cheyenne, Wyoming, unless the parties mutually agree to a different location, or unless applicable law requires arbitration in the consumer's state of residence.

The arbitrator's decision shall be final and binding on both parties and may be entered as a judgment in any court of competent jurisdiction. Each party shall bear its own costs and attorney fees, except as otherwise provided by law or the arbitrator's award.

Notwithstanding the above, either party may seek injunctive or other equitable relief in any court of competent jurisdiction to prevent the actual or threatened infringement, misappropriation, or violation of a party's copyrights, trademarks, trade secrets, patents, or other intellectual property rights.

17. Class Action Waiver

TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, YOU AND FORECLOSURE RECOVERY INC. EACH WAIVE THE RIGHT TO A JURY TRIAL AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION, COLLECTIVE ACTION, PRIVATE ATTORNEY GENERAL ACTION, OR OTHER REPRESENTATIVE PROCEEDING. All disputes must be resolved on an individual basis. This waiver applies to all claims, whether asserted in arbitration, court, or any other forum. If any court or arbitrator determines that the class action waiver is void or unenforceable for any reason, or that an arbitration can proceed on a class basis, the arbitration provision shall be deemed void in its entirety and the parties shall be deemed to have not agreed to arbitrate disputes.

18. Licensing and Registration

Foreclosure Recovery Inc. is a corporation organized under the laws of the State of Wyoming. We maintain all licenses, registrations, and bonds required by applicable state law to provide asset recovery and finder services. In states that require specific licensing for unclaimed property finders or asset recovery agents, we either hold the required license directly or work through licensed partners.

We register as required in states that mandate finder registration (including but not limited to states that require advance registration with the state treasurer or comptroller). We maintain the surety bonds required by states such as Florida. Our licensing and registration status is available upon request.

19. State-Specific Regulations

We operate in compliance with the unclaimed property, foreclosure, and asset recovery laws of all 50 US states and the District of Columbia. Key regulatory areas include:

• Finder Agreement Requirements: Many states require that finder agreements be in writing, signed by the property owner, and contain specific disclosures (including the right to claim directly at no cost). All of our Recovery Agreements comply with these requirements.
• Waiting Period Restrictions: Some states prohibit finder agreements executed within a specified period after the property is reported to the state (typically 24-36 months). We do not solicit or enter agreements for property subject to an active waiting period.
• Fee Cap Compliance: Our fee for any given claim never exceeds the maximum percentage allowed by the state holding the property. Where state caps vary by property type, claim amount, or holding period, we apply the correct cap to each claim.
• Solicitation Restrictions: Certain states restrict the methods by which finders may contact potential claimants (e.g., limiting outreach to mail only, or prohibiting contact within a certain period). We comply with all such restrictions.
• Disclosure Requirements: In states that require specific disclosures in finder agreements or client communications, we include all required language. This includes, where applicable, disclosures about the right to claim directly, the fee structure, and the finder's identity and registration status.

State laws and regulations change frequently. We continuously monitor legislative and regulatory updates across all jurisdictions and update our practices and agreements accordingly. If a change in law affects your pending claim, we will notify you of any impact to fees or procedures.

20. Right to Self-Claim (Required Disclosure)

As required by multiple state laws, we disclose the following: You have the right to file a claim for unclaimed property directly with the applicable state agency at no cost. Each state maintains an unclaimed property division (typically within the State Treasurer's or Comptroller's office) that processes owner claims without charge.

Our service is optional. By engaging our services, you are hiring a professional asset recovery firm to handle the research, documentation, filing, and follow-up on your behalf, in exchange for a contingency fee payable only upon successful recovery. You are under no obligation to use our services to claim your property.

21. Anti-Fraud Protections

We take fraud prevention seriously. To protect both our clients and the integrity of the claims process, we implement the following measures:

• Identity verification for all claimants before initiating recovery services
• Document authentication through comparison with public records and government databases
• Background review of all claims for indicators of fraudulent activity
• Coordination with state agencies to report suspected fraud
• Compliance with the federal Identity Theft and Assumption Deterrence Act and applicable state identity theft statutes

If we discover or reasonably suspect that a claim is fraudulent, we will immediately cease processing the claim, notify the affected state agency, and may report the matter to law enforcement. Submitting fraudulent claims, providing false identification, or misrepresenting your ownership or heirship is a crime under both federal and state law.

22. Cancellation and Cooling-Off Period

You may cancel your Recovery Agreement at any time prior to the disbursement of recovered funds by providing written notice to us via email at [email protected] or by mail to our office address. Cancellation is effective upon our receipt of your written notice.

In states that provide a statutory cooling-off period for finder agreements (typically 3-10 business days from the date of execution), you may cancel within that period without penalty. During the cooling-off period, we may begin preliminary work on your claim, but you will not be charged any fee if you cancel within the prescribed period.

If you cancel after the cooling-off period but before recovery, you owe us nothing -- there is no penalty for cancellation. However, if the state has already approved your claim and funds are in process of being disbursed at the time of cancellation, our fee remains payable.

23. Amendments

We reserve the right to amend these Terms at any time. Changes become effective upon posting to the Website. Material changes will be communicated to existing clients via email at least 30 days before they take effect. Your continued use of the Website or services after the effective date of any amendments constitutes acceptance of the revised Terms.

Changes to these Terms do not retroactively affect existing Recovery Agreements. The terms of your signed Recovery Agreement will govern any claim that is in progress at the time of amendment, unless you explicitly agree in writing to the updated terms.

24. Severability

If any provision of these Terms is held to be invalid, illegal, or unenforceable by a court of competent jurisdiction or arbitrator, the remaining provisions shall remain in full force and effect. The invalid provision shall be modified to the minimum extent necessary to make it valid and enforceable while preserving the original intent of the parties, or if modification is not possible, shall be severed from these Terms.

25. Entire Agreement

These Terms, together with the Privacy Policy and any executed Recovery Agreement, constitute the entire agreement between you and Foreclosure Recovery Inc. with respect to the subject matter hereof. These Terms supersede all prior or contemporaneous understandings, agreements, representations, and warranties, whether written or oral, regarding the subject matter hereof.

No waiver of any provision of these Terms shall be deemed a further or continuing waiver of such provision or any other provision. Our failure to assert any right or provision under these Terms shall not constitute a waiver of such right or provision.

26. Governing Law

These Terms shall be governed by and construed in accordance with the laws of the State of Wyoming, without regard to its conflict of law provisions. Notwithstanding the foregoing, the law of the state in which the unclaimed property is held shall govern the specific claim procedures, fee caps, cooling-off periods, and disclosure requirements applicable to each individual Recovery Agreement.

Where there is a conflict between Wyoming law and the law of the state holding the property with respect to the specific terms of the Recovery Agreement (including fee percentages and client protections), the law more protective of the client shall prevail.

27. Contact Information

For questions, concerns, or requests regarding these Terms, contact us at: