Home | How It Works | Guarantee | Privacy | Order Now | Search Unclaimed Money | Help

Massachusetts Unclaimed Property Division Looking to Return Money

The unclaimed property division of Massachusetts is showing positive results towards reducing the pile of unclaimed funds scattered in different parts of the state. The pile of unclaimed assets is increasing at an alarming rate, which is much more than that of the reclaiming rate.

As per the Abandoned Property Law of Massachusetts, the business firms are required to review their records every year to make sure they are not in possession of any Massachusetts unclaimed money or property. If they have any, they have to report it to the state agencies, along with the annual report of their findings.

Every year in Massachusetts, several bank accounts in Massachusetts lose track of their real owners with time because of reasons like sudden and un-informed change in the residential address, marriage divorce and business bankrupt.

The state treasury, who takes control of these properties in the absence of the real owners, manages Massachusetts’s unclaimed property or funds. The Unclaimed Property Division of the Treasury makes efforts in forms of press publications and letters, which are sent to the last known address of the owner of the property. Massachusetts is also organizing state fairs to assist people on a walk-in basis in locating their lost property and filing application for the same.

Massachusetts’s government, and the agencies managing the lost funds, believes that it is because of ignorance of the people living here that the pile of unclaimed funds is increasing, as most of the people believe the concept to be unrealistic. It may be funny but also a fact that majority of the people in Massachusetts are not aware of their lost funds. The state believes that efforts directed towards educating people and creating awareness will surely help them in reducing the burden. Massachusetts also maintains a state run website that assists the user in making free unclaimed property searches.

Comments are closed.

Affiliate Program | How It Works | Guarantee | Privacy | Unclaimed Property Blog | Order Now | Media & Press Relations
Unclaimed Property Definitions | Unclaimed Money | Useful Money Links | Link To Us | State Property List | Help

Copyright © 2002 CashUnclaimed.com. All Rights Reserved. By use of this site you are specifically agreeing to
the terms of use posted on this site. You should click here to review them now.

When you perform a free trial search on CashUnclaimed.com we display the total dollar amount in unclaimed funds that we show reported by the appropriate government agencies. This does not guarantee that this money is 100% absolutely yours. What it means is that there is that total dollar amount shown by government agencies under your name and common variations of your name at the last time we had the information available to us was reported as unclaimed and is able to have a claim form submitted to be paid that amount. For more information please read our terms of use by clicking the link above.