Forgotten Safe Deposit boxes become unclaimed property
MSN Money columnist Liz Pulliam Weston enlightens her readers on how your safe-deposit box could become “abandoned” and turned over to the state as unclaimed property.
Ever wonder how it is that a state can have such a high amount of unclaimed cash and property? Well, Ms. Weston discloses how a bank can claim your safe-deposit box is abandoned. Once claimed to be abandoned it then becomes the property of the state. The result is the contents of your safe-deposit box is now unclaimed money or property. She gives excellent insight as to how this happens and how you can protect yourself from this.
Found money and other valuables can come from many different sources, and this is one that many may overlook or not even be aware of.
