Thursday, December 09, 2010

What would we do without the State?!

Forever lose property, evidently. Beneath the jovial nature of this article-- concerning the fact that Steve Jobs hasn't claimed $37.91 worth of property from Apple-- is nature of the regulatory beast:

California law requires claims be posted for property "abandoned or lost" for more than three years. If the person doesn't claim it after six months, the property is transferred to the state, which then attempts to contact the owner, the spokesman said.

Anyone care to venture the social cost of filing claims for property, transferring it to the state, and then having the state undertake a search for the owner of its own?

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