RM40Billion Unclaimed Money

This is the amount of cash and non-cash assets left by the dead and yet to be claimed by their heirs. Of this, land and property account for about RM38 billion; RM1.5 billion is with the Registrar of Unclaimed Monies; and more than RM70 million in the Employees' Provident Fund. About a million land titles are also still in the names of dead people. Amanah Raya Bhd general manager of sales and marketing, Rafie Omar, attributed this sad state of affairs to the fact that most Malaysians die without leaving a will. "The sudden demise of a family member without leaving a Will not only creates problems of inheritance but also leaves the family stranded with outstanding loans and other obligations the deceased member may have."..source New Straits Times.

Posted in: RM40B Unclaimed Money