Bought A Jumbo CD From Another Person Now What?

sweetlanie20 | Apr 19, 2020 | 1 posts since 2020

Hey guys I bought locker at a asset auction and of course alot of personal items and paperwork but I came across a jumbo CD from the 80s. Does anyone know what to do next I looked up the back and of course it's no longer a thing but what honestly would I do with it? Can I do anything with it?

Any relevant info would be great and very appreciated.

Thank you

-Mel

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Answers

Ally6770 | Apr 19, 2020 | 4,295 posts since 2010

The CD's proceeds even if it was not cashed in could never belong to you. It would ALWAYS belong to the person whose name is on the CD, the CD's beneficiaries, or to the original name on the CD's estate. I would try to find the person whose name is on the CD or more likely relatives who are most likely the beneficiaries. There are a lot of examples like this when CD's can be cashed in without the original CD.
On another note I have a friend that bought a very old tool box from an auction. He put it up on a shelf in his barn mostly for a conversation piece by his workbench. One day when cleaning his barn he opened the box and there was over $10,000 in the box. He could have used the money. He was unemployed. But he got ahold of the children who held the auction for their deceased father and gave it to them.

ocsteve | Apr 19, 2020 | 96 posts since 2010

Your friend's honesty and absolute integrity will be rewarded with good things in the future. The family might just have needed those funds in today's situation.

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