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This information may vary from state to state. Be sure to check each states website for the correct up to date information.

Unclaimed money refers to money or property being held by an organization that has not had contact with the owner for an extended period of time. Property is usually considered unclaimed after so many years, when it is turned over to the state. Banks, retailers, credit unions, utilities, corporations, insurance companies, and governmental entities are some of the many sources of unclaimed property.

The Department of Revenue is the custodian for unclaimed property, and it administers an unclaimed property program to seek the rightful owners.

MissingMoney.com is officially endorsed by NAUPA and the participating states and provinces. Our site will assist you in thoroughly searching all participating states to find your family's missing, lost, and unclaimed property, money and assets.

MissingMoney.com has the most updated information for the state and provincial offices, their websites with contact information and property listings. Searches and claiming are always FREE. Information goes securely and directly to the state/provincial unclaimed property office.



Typical unclaimed property includes:
 

 

 

Bank accounts

Insurance proceeds

Stocks, bonds and mutual funds

Safe deposit box contents

Utility and phone company deposits

Uncashed checks, such as payroll, insurance payments, or travelers checks.
 

 

 

 


Dont waist your time searching in the wrong places! 


 

 

Searching on USA Money.
Some Unclaimed property sites do not include real estate, vehicles, and most other physical property.

Who can claim it?

 

 

 

The original owner.

Heirs of original owner.

A personal representative if the Estate is open.

A beneficiary or co-owner listed on account.

 

 

 

What is Unclaimed Money:

Unclaimed money is any intangible asset that is held, issued or owing in the ordinary course of a holder's business that has remained unclaimed by the owner for a statutory period of time after it became payable or distributable. Some examples of unclaimed assets are:

 

 

 

Outstanding payroll and vendor checks.

Matured certificates of deposit.

Savings and checking accounts.

Uncashed dividends.

Unclaimed securities.

Principal on debt.

Uncashed money orders, cashiers checks, travelers checks, and other official checks.

Unreturned and unused security deposits.

Accounts receivable credit balances and discounts due.

Escrow balances.

Property held by courts and other governmental entities.

Amounts due under terms of insurance policies

And other.

 

 

 

How does money become unclaimed

These assets become unclaimed property for a variety of reasons:

 

 

 

Businesses lose track of owners due to a change of address.

Owner may have forgotten about the asset and failed to notify the business of his new address.

Property becomes abandoned due to the death of the owner.

The decedent's family is often times not aware of these assets.

Other assets become unclaimed property because of a custodial relationship experienced as a minor child. Parents establish accounts in the name(s) of minor children, then forget about the accounts. The children are usually unaware of them until:

Accounts are advertised in the newspaper.

claim form is received.

Stock splits and other securities transactions account for a large portion of unclaimed property.

Property is lost due to business dissolution or merger.

Customers will overpay on their accounts, or send remittances with no indication as to which account to apply the payment towards.

These credit balances are often times just left on the books of companies.

Checks have been lost in the mail or put in a drawer and forgotten.

 

 

 

When does money become "Abandoned" or "Unclaimed"?

If property is unclaimed and the holder cannot contact the apparent owner, property is considered abandoned, as follows, from the date of the transaction:
(This example is from Arizona. Years and Items may very and/or change state to state)

Do I have to pay a finder's fee?

 

 

The Department of Revenue would never charge anyone to claim what is rightfully theirs.

Only if you enter into a written agreement with a locator and the agreement meets the requirements of A.R.S. § 44-327.

 

 

What ultimately happens to abandoned property?

Abandoned property is kept forever in the State's Unclaimed Property Fund for claim by the rightful owner or their heirs.

 

 

 

 

 

 

 

Payroll - 1 year

A/P checks - 5 years

Individual Retirement Accounts - 3 years

Demand, savings or time deposits - 5 years

Retail business credit - 5 years

Matured Or Terminated life or endowment Insurance Policy - 2 years

Not Matured Life Or Endowment Insurance 5 years

Limiting Age Insurance Policy - 2 years

Property held by courts - 3 year

Other governmental entities - 3 year

Business dissolution property - 1 year

Safe Deposit Boxes (rent unpaid) - 1 year

Utility Deposits - 2 years

Stock or other equity interest - 3 years

Principal on debt - 5 years

Money Orders - 7 years

Traveler's Checks - 15 years

Official Bank Checks - 5 years

Most other funds - 5 years

money©2003 USA Money

 

Last Updated Saturday, September 08 2012 @ 02:48 PM CDT|6,060 Hits View Printable Version

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