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What is an abandoned asset? An abandoned asset is literally speaking “abandoned”. There is no one to claim such an asset, to take care of it and obviously to gain from it. In most cases the asset is a lot, but it can be a house, stocks or money deposit. The circumstances that create an abandoned asset are historical, cultural or from family reasons. So in spite of the fact that the original owner has deceased, no one claimed the property. This can happen due to two major reasons: The first is that there are no direct relatives, due to historical or family circumstances. As a result, the heirs are not aware of the deceased person. The second is that from personal, cultural, tax or even political reasons, the deceased person hid the property, so now it is unknown to the heirs. The asset sometimes is being handled by the Administrator General and sometimes is not being handled at all.

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