When cleaning today, I found a cashier's check that has my daughter as the remitter with a mortgage company as payee. With the check was a letter from the mortgage company's lawyer addressed to my daughter stating that "Per our telephone conversation, I am returning a cashier's check dated February 28, 2003....." The letter of transmittal was dated August 24, 2003. Neither my wife or daughter know how the check ended up in the bureau drawer between some sheet music, and my wife did not recall ever seeing it before. My daughter said that all she can remember is that the payee would not accept the check because it was for an incorrect amount.
We notified the bank and provided them with a copy of the check and a copy of the transmittal letter. They are reviewing their files. Will there be a problem with my daughter, the remitter returning the check to the bank and getting a refund? The mortgage was brought up to date and is current.
It's possible that the issuing bank will have surrendered the funds behind that check to the state under abandoned property laws. Your daughter should ask the issuing bank first. If the funds were turned over to the state, your daughter will have to contact the Abandoned Property department of the state treasurer's office and apply for a refund.
If the funds have not been surrendered to the state, there should not be a problem getting a refund. Your daughter can take the check to the bank and follow instructions on how to do this.
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It's possible that the issuing bank will have surrendered the funds behind that check to the state under abandoned property laws. Your daughter should ask the issuing bank first. If the funds were turned over to the state, your daughter will have to contact the Abandoned Property department of the state treasurer's office and apply for a refund.