Unclaimed Property Blog

Unclaimed lottery money is a phenomenon which defies logic for most of the people. It’s a fact that the volume of unclaimed lottery money has been increasing with each passing day. Hundreds of cases of unclaimed lottery jackpots have come to light, and the owners of these tickets have been unsuccessful in staking a claim to their funds because of the existing lottery laws.

It is considered foolhardy to even think of some unclaimed money which can be claimed. Most U.S. citizens found it hard to believe that there are vaults of unclaimed funds lying with the state treasuries waiting to be claimed by the actual owners. In reality, there might be unclaimed property belonging to them and that they can also claim it back.

Unclaimed money in America has now reached almost all of the American households; as of last estimate, almost 8 out of 9 American families had some form of unclaimed property waiting to be claimed. In most of the American extended family, there is at least one person who has not staked a claim to their rightfully earned money.

Unclaimed tax refunds have been a major source of unclaimed funds for both the IRS and state treasuries. It is officially reported that the U.S. government is in possession of millions of unclaimed tax refunds and both the federal and state treasuries are actively trying to locate the rightful owners.

According to a recent report, millions of U.S. residents (around 28 million) are still relying on food stamps to survive, while billions of dollars are still waiting to be united with their rightful owners. The combined value of unclaimed money in the 50 states is over $50 billion and a large chunk of these unclaimed funds is due to unclaimed IRS money. States like New York and California have one of the biggest reservoirs of unclaimed tax refunds.

Unclaimed money searches have become more common in the recent years with a greater number of people reaping the benefits of the unclaimed search process. It is known that the unclaimed assets pile has reached an alarming level, and is currently and all-time high. This has become one of the major logistic and administrative issues for the state treasury officials as well as the federal decision-makers.

With a lot of skepticism about the unclaimed money and the unclaimed search process, a well planned awareness campaign about unclaimed money is extremely necessary. The state and federal government have been taking all the proper measures to create the best tools for unclaimed money search, however the results have not proven so.

Unclaimed Money isn’t a stranger for the state of New York. New York is home to some of the most flourishing business districts in the country and very logically, it attracts the most number of migrant workers into its fold. With a record number of foreign workers coming into the state for employment, it is not surprising that a lot of employment and personal accounts are not closed.

Every state has been facing the unmanageable influx of unclaimed property and funds. In comparison, the number of claims being made for return of these lost funds have been very low in volume. It is a fact that unclaimed property has created a logistic and bureaucratic roadblock for most of the state treasuries.

Is unclaimed money real? There has been much dilemma and debate over the existence of unclaimed money, and if it is really worth the time to search for it. For some, it was hard to digest the existence of a pool of money waiting to be handed over to the rightful owners, who at some point, forgot or left it behind.

With so many people getting unclaimed money returned back, it has been established that unclaimed money in America has now affected almost all of the American households. As of last estimate, almost 8 out of 9 American families have some form of unclaimed property waiting to be claimed. In most of the American extended family, there is at least one person who has not staked a claim to his rightfully earned money.