Unclaimed Property
Unclaimed property refers to assets or financial holdings that have been abandoned or left inactive by their rightful owner for an extended period of time. This could include bank accounts, stocks, dividends, insurance payments, uncashed paychecks, refunds, utility deposits, and more.
When a financial institution or company is unable to contact the owner of these assets after a certain period of time (often referred to as the "dormancy period"), they are required by law to turn over the unclaimed property to the appropriate state government or jurisdiction. The state then becomes the custodian of the unclaimed property until the rightful owner comes forward to claim it.
State governments typically maintain databases or online platforms where individuals can search for unclaimed property that may belong to them or their deceased relatives. Claiming unclaimed property usually involves providing proof of ownership and identity to the state's unclaimed property office.
It's important for individuals to periodically check for unclaimed property in their name to ensure they don't inadvertently lose track of valuable assets.
Click the link below to check if you have unclaimed property.
