Unclaimed Property Blog

Most states are attempting to motivate people to claim their unclaimed assets; over 50 states have their individual websites that update data on a regular basis. These websites offer independent searches to anyone who has access to internet. All you have to do is start the search after deciding on the location and then enter personal details in the website like name or social security number for better filtered results. Unclaimed assets searches have been simplified by the state by organizing fairs on a timely basis that offer assistance to a person on a walk-in basis wherein you can search and claim the property on the spot.

According to the figures, more than an estimated pile of $135 million in unclaimed money is still waiting for their rightful owners, so go out and search if you have some unclaimed money waiting for you as well.

In spite of repeated efforts of the federal agencies, some still find it very difficult to believe that they have unclaimed money located at different locations resulting in the pile of unclaimed cash that is increasing at a tremendous rate.

Millions of people in the country have no idea that they have free unclaimed cash or property lying around. Books are made almost every year on how to claim property that legally belongs to you, but people have yet to wrap their heads around the concept of unclaimed money.

Anyone can locate unclaimed property with a little help, and luckily, with the help of a web search, you can do an easy unclaimed money search and find out just how much you have lying around in assets.

It is quite ironic to think that nearly $33 billion worth of money and assets remain unclaimed and abandoned in the care and protection of U.S. state treasurers despite the continuing global recession and economics struggles experienced today. If you are planning to perform an unclaimed money search soon, here are some things you will have to familiarize yourself with in order to guarantee a swift and smooth process.

What are Unclaimed Asset?

There are several tips that you can use to find lost money. According to the University of Kentucky, $32.8 billion dollars remains unclaimed in the United States. Northeastern University states that $33 billion dollars in 117 million accounts is unclaimed in the United States. The funds are in various types of accounts. The funds may be in abandoned checking and saving accounts. They may also be in mutual funds, property, stocks, and insurance policies. The federal, local, and state governments are holding these funds. There is nothing wrong with trying to find lost money. Find out how this Cashunclaimed.com is helping people locate lost money.

The problem of unclaimed cash is a threat to the government. This is giving nightmares to the state as well as the federal agencies that have the responsibility to manage these funds. The state unclaimed money is increasing at an alarming rate which has forced the state to use the excess money on welfare activities and betterment of the economy of the state. In order to balance the unclaimed properties lying with them, the states auction the properties to hand over the amount to the rightful owners.

The federal agencies who are managing the burden of these unclaimed assets have realized that in order to create a desire in the minds of people, they need to be educated about the importance of unclaimed money. This made the federal agencies join hands with the government in designing different awareness campaigns and programs to educate people about the importance of reclaiming lost property.

The government has developed several tools to assist people in getting necessary information for carrying out the search process. The process of applying for reclaiming the assets was one of the most difficult processes, but now, due to the constant efforts of the authorities reclaiming process is much easier.

Every year, billions of dollars are reported unclaimed and abandoned by the State Treasury Department of the United States. $16 billion in savings bonds, $153 million worth of IRS income tax refunds, $10 billion in lost shares, bonds, and mutual funds, $133 million in unclaimed pension benefits, and this staggering list goes on. With such a large amount hanging freely and up for grabs, it sparks the curiosity of many if they are entitled to even an infinitesimal amount from these billions of dollars worth of assets. If you plan on performing an unclaimed funds search soon, here are some things to contemplate on.

The value of every dollar has never been as important as today. With the global recession on a widespread scale and the effects of an economic downfall continuing to plague both consumers and commercial players, people have resorted to squeezing every cent they have in their wallets and pockets to survive such rough times. Sadly, many people still manage to unknowingly leave and abandon a portion of their assets.

What is unclaimed property? It is any property that has a title attached to it. It may or may not have a positive value. Examples of these are old bank accounts, forgotten investment accounts, inherited property in which the title has been lost, forgotten insurance accounts, un-cashed refund checks from long lost or forgotten accounts, etc. If you change jobs and forget to roll over your IRA, that is unclaimed money. So how do you find all this money?