Unclaimed Property Blog

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?

Certain cities, counties and states are holding billions of dollars in unclaimed money from people and businesses. There are many myths circulating about the process for obatining this money, some of which are true, but the majority are false. If you need assistance in obtaining your money, then you should contact a company that specializes in finding and returning unclaimed money to the rightful owner.

When it comes to unclaimed property laws and the ways that funds can be replaced in the hands of their owners, there are a great deal of misconceptions that seem to linger about. These range vastly from the truth at times, but also can be slight variations from the truth that can be confusing at times for the public. Either way, it is important to decipher these truths about unclaimed property search laws so that people can gain access to their belongings without having to jump through an assortment of hoops in order to do so. Keep reading to find out what some of these misconceptions are along with the truth behind their misunderstandings.

With the rise of unclaimed property, local police stations have taken measures to decrease the amounts. police auctions are often considered a great place for a great deal. Most of these auctions are held to dispose of vehicles and surplus/obsolete equipment.

They are also held for such things as recovered items, unclaimed or stolen goods, seized items and much more. Some of the other sought after items from the police department auctions are cars, communication equipment, cameras, and more. Everything that is auctioned through the Police department is in a good shape and well maintained due to strict maintenance schedules.

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.

Most of us think that claiming lost property is not for the majority. The reality betrays the common notion about the process of claim. Almost 80% of us have left behind cash and property at some point and failed to claim it. As the time goes by, the desire to claim our lost property fades and slowly it goes down in our list of priorities. But, who doesn’t need their hard earned cash or property?

Unclaimed property is still on the rise in the U.S. in spite of the states’ relentless efforts to return the unclaimed property to its rightful owners. Unclaimed property in the U.S. is reaching unprecedented proportions. A total of over $32 billion is currently being safeguarded by state treasurers and other agencies for 117 million accounts.

To get rid of this burden and help people in finding the forgotten cash or property that is legally theirs, every U.S. state, District of Columbia, Puerto Rico, and the Virgin Islands have unclaimed property programs that actively find owners of lost and forgotten assets. Quebec, British Columbia and Alberta in Canada have also initiated such programs.

The very thought of searching for an easy, quick way to come up with more cash can be daunting. There are a ton of scams and cheats out there with their traps who will do nothing but take your money and run, leaving you in worse financial ruin than where you’ve started. But the fact is that, you’ve just been looking in the wrong place all this time.

Free Unclaimed Money Search

Unclaimed money is money that belongs to you, but is currently deposited in state or federal treasuries, waiting to be claimed by you. Yes, there are 55 million people like you who have never attempted to find unclaimed money for a simple reason: They don’t even know about it.

If you have ever moved over to another state without informing your bank, changed a job, left a savings account unattended for the last three years, terminated an insurance policy, lost gift certificates, traveler’s checks, utility deposit receipts or investment certificates, there is a high chance that you may find unclaimed money.

Looking for money? Ever think to look to your state? No, not welfare money, but money that is yours. States hold money that belongs to the residents and sometimes the residents do not know it.

This money comes from forgotten or lost assets that are by law turned over to the state by financial institutions. The law for Indiana is when there has been no activity on an account for the last five to seven years (depending on the account) the money is to be turned over to the state as unclaimed property. Unclaimed property may also include the contents of a safe deposit box which has been turned over to the state. After 25 years this money if still unclaimed reverts to the state.