Unclaimed Property Blog

Almost all of the state and federal agencies are unanimous in their verdict that the pile of U.S unclaimed money is growing rapidly with each passing day and there is no practical solution in sight. National and State unclaimed databases are swelling with unclaimed funds at a rapid pace with new and lost money being added monthly without any signs of slowing down or without any increased activity on the reclaim front.

It’s a common perception that the process of claiming a lost property is too cumbersome to be pursued, but with a lot of concerted effort from local and federal government and various agencies, the myths about the reclaim process has been shattered. As our lifestyle gets faster, majority of us (more than 80%) have forgot to account for some cash or property at some point of our lives. With time, these unclaimed funds or property passes on into the hands of government and unclaimed property agencies. But, if somebody tells you that the authorities are waiting for you to reclaim your lost funds that would be music to your ears.

Unclaimed lottery jackpots: It sounds unrealistic but the fact is that every year dozens of hefty jackpots are left unclaimed. Unclaimed lottery winnings have been on the rise. In most of these cases the efforts to locate the rightful owners of these lotteries have gone in vain. In 2005, Illinois reported $14 million of unclaimed lottery winnings. Indiana reported more than $5 million of unclaimed lottery ticket in the same year. The state of Massachusetts reported $4.6 million of unclaimed lottery money a few years earlier. Between 2008 and 2009, Georgia reported almost $45 millions of unclaimed lottery money.