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<p>[QUOTE="lettow, post: 935431, member: 6986"]US Savings Bonds can only be redeemed by the registered owner or an heir. If an owner dies and no heirs can be found, the government gets free money. The same thing happens with savings bonds found in unpaid storage units and safety deposit boxes. They remain on the government's books as a liability but they cannot be redeemed until the owner or an heir is found -- and no one is looking for the owners.</p><p><br /></p><p>IN this case, the registered owner was an organization. As far as I can tell, that organization is still around. While it is doubtful that any of its members read this board (they are likely in their 80s), I don't want to take the chance. It is possible that this bond was reported lost and one re-issued in its place so that this one is unredeemable. Whatever the case, I don't want to take that chance.[/QUOTE]</p><p><br /></p>
[QUOTE="lettow, post: 935431, member: 6986"]US Savings Bonds can only be redeemed by the registered owner or an heir. If an owner dies and no heirs can be found, the government gets free money. The same thing happens with savings bonds found in unpaid storage units and safety deposit boxes. They remain on the government's books as a liability but they cannot be redeemed until the owner or an heir is found -- and no one is looking for the owners. IN this case, the registered owner was an organization. As far as I can tell, that organization is still around. While it is doubtful that any of its members read this board (they are likely in their 80s), I don't want to take the chance. It is possible that this bond was reported lost and one re-issued in its place so that this one is unredeemable. Whatever the case, I don't want to take that chance.[/QUOTE]
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