Unclaimed Estates And How Heir Hunting Works
It is no surprise that a topic like unclaimed estates has produced a popular terrestrial daytime television programme. This legal peculiarity contains all of the key elements of any good drama; a life story with twists and intrigue and an unexpected financial reward at the end. With almost 2, 000, 000 people tuning in to BBC1's 'Heir Hunters' on a daily basis the truth is that 'unclaimed estates' is a subject that has captivated the viewing public and prompted many to start tracing their genealogy (just in case!).
It is estimated that there are approximately 20, 000, Unclaimed Estates in the UK. The list is updated at midnight every Wednesday by a government department called "Bona Vacantia". Their website publishes a list of the unclaimed estates which have emerged each week. On average there are a few dozen new estates appearing on a weekly basis with about 2, 000 estates coming to light every year. In the case of an unclaimed estate there is no will and, seemingly, no relatives. The person has died with no apparent family connections. When these circumstances occur the estate is referred to as 'Bona Vacantia' which is a Latin term that literally translated means ownerless goods. In the absence of family members the government will process the administration. Ultimately, if no relatives or beneficiaries are found, the estate will pass to the Crown or the Duchy of Lancaster or Cornwall.
A whole industry has grown up around the issue and there are many so-called 'Heir hunting' firms such as Fraser and Fraser, Hoopers, Celtic Research and Heir trace that make a business out of hunting out beneficiaries entitled to unclaimed estates. Of course, these firms will take a large slice of any inheritance involved. It is estimated that commissions involved may be as much as 40%. The published list of unclaimed estates only contains estates dating back to January 1st 1997. There are paper records kept on estates before this date.
The process is simply one of genealogy, which brings to mind another popular BBC programme, "Who Do You Think You Are?". Unlike the celebrities featured in Who Do You Think You Are?, a member of the public attempting to unearth an as-yet-unknown wealthy ancestor will not benefit from a team of BBC researchers. The process, therefore, can be arduous, and probably fruitless.
However, those of you wishing to look into your family's past may wish to bear in mind that Bona Vacantia's list of unclaimed estates is available for free at the Bona Vacantia website. Who knows. . . perhaps your family tree with reveal a long lost member of the family, with stories and connections you never imagined, not to mention an estate waiting to be claimed.
Alternatively, you could ask a firm of heir hunters to do the leg-work. They do not, as a rule, accept instructions direct from the public, so you may need to seek advice from a probate solicitor.
