Unclaimed Property Blog

The unclaimed property pile is growing at an alarming rate across all the state treasuries. This is creating a major concern for everyone involved in the management of this missing money. Every official and agency related to the disbursement and management of unclaimed funds are trying their best to locate the rightful owners and also spread the awareness about unclaimed funds.

In contrast to the earlier days, a large volume of relevant information is available to the potential owners of these unclaimed funds. Both the state and federal government have to be applauded for their efforts in reuniting the owners of these missing monies with the lost property. A lot of emphasis has been given to the availability of relevant information and also on the simplification of the process of claim.

There’s almost $33 billion in unclaimed money from old payroll checks, utility refunds, trust distributions, stocks, banking or checking accounts, certificates of deposit and the contents of safe deposit boxes waiting to be reclaimed, according to NAUPA (National Associate of Unclaimed Property Administrators). A property is considered abandoned if it has been dormant for more than three years. This type of property is turned over to the state of the last known address and the state hold this money until you or your heirs claim it. The good part is that the unclaimed money can be claimed anytime.

Unclaimed Bank Money