{"id":5342,"date":"2024-04-26T17:21:33","date_gmt":"2024-04-26T16:21:33","guid":{"rendered":"https:\/\/www.tayloremmet.co.uk\/blogs\/?p=5342"},"modified":"2024-04-29T13:58:54","modified_gmt":"2024-04-29T12:58:54","slug":"deadline-to-claim-court-funds-approaching","status":"publish","type":"post","link":"https:\/\/www.tayloremmet.co.uk\/blogs\/deadline-to-claim-court-funds-approaching\/","title":{"rendered":"Deadline to claim court funds approaching"},"content":{"rendered":"<h4>It is estimated that the<a href=\"httpss:\/\/www.tayloremmet.co.uk\/personal\/inheritance-tracing\/court-funds-office\/\"> Court Funds Office<\/a> are currently holding millions of pounds worth of historical unclaimed funds. Deadlines have now been imposed by the government to claim historical balances, if you believe you may be entitled to any unclaimed funds then you need to act fast.<\/h4>\n<p>The government\u2019s Funds in Court in England and Wales Audit for 2022 to 2023 shows that the balance of unclaimed monies in client funds was \u00a32,248m. We understand that there are currently in the region of 83,000 cases of unclaimed funds with the <a href=\"httpss:\/\/www.tayloremmet.co.uk\/personal\/inheritance-tracing\/court-funds-office\/\">Court Funds Office<\/a>.<br \/>\nChanges in legislation from the Spring Budget 2023 will affect how the Court Funds Office deal with dormant funds going forward.<\/p>\n<h2>What is the Court Funds Office?<\/h2>\n<p>The Court Funds Office provides a banking and investment service for the courts throughout England and Wales. Consequently, the Court Funds Office holds a large fund of unclaimed balances.<\/p>\n<h2>Why do monies end up with the Court Funds Office?<\/h2>\n<p>Funds are often left unclaimed following house repossessions when the lender who has repossessed the property make more than the debt owed to them from the sale of the property, but they are unable to pay the surplus funds to the original homeowner. Other circumstances where funds may be left unclaimed are when missing heirs are not located, a court case has collapsed and when companies go into liquidation during a trial.<\/p>\n<p>The Court Funds Office also holds significant sums belonging to Local Authorities, often as a result of historical properties sales following enforcement procedures.<\/p>\n<h3>Changes to the timescales for claiming:<\/h3>\n<p>From the 1st June 2024 any account that has been held dormant within the Court Funds Offices for 30 years or more will be surrendered and those who may have been entitled to the funds will lose any future right to claim the funds.<\/p>\n<p>Funds are classified as dormant if they have been held by the Court Funds Office for an extended period, with no activity on the account and any efforts to trace the intended beneficiary have been unsuccessful.<\/p>\n<p>The Ministry of Justice have confirmed that those who are entitled to funds that have been held for 30 years or less will still be able to claim the funds under the normal process but any account that reaches 30 years or more of dormancy will be surrendered on the date that this milestone has passed.<\/p>\n<p><strong>Our Inheritance Tracing team can assist with applications for unclaimed funds held by the Court Funds Office. If you believe that you are entitled to any unclaimed funds, please contact our <a href=\"httpss:\/\/www.tayloremmet.co.uk\/our-people\/?_people_search=inheritance-tracing\">specialist team<\/a> as a matter of urgency at inheritance@tayloremmet.co.uk or call 0114 218 4000.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>It is estimated that the Court Funds Office are currently holding millions of pounds worth of historical unclaimed funds. Deadlines have now been imposed by the government to claim historical balances, if you believe you may be entitled to any unclaimed funds then you need to act fast. The government\u2019s [&hellip;]<\/p>\n","protected":false},"author":61,"featured_media":5346,"comment_status":"closed","ping_status":"open","sticky":false,"template":"blog_posts.php","format":"standard","meta":{"footnotes":""},"categories":[344],"tags":[],"class_list":["post-5342","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-inheritance-tracing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Deadline to claim court funds approaching | Blogs<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tayloremmet.co.uk\/blogs\/deadline-to-claim-court-funds-approaching\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deadline to claim court funds approaching | Blogs\" \/>\n<meta property=\"og:description\" content=\"It is estimated that the Court Funds Office are currently holding millions of pounds worth of historical unclaimed funds. Deadlines have now been imposed by the government to claim historical balances, if you believe you may be entitled to any unclaimed funds then you need to act fast. 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