Each state has laws that govern how unclaimed money and property is handled. They allow a certain amount of time to elapse before the property must be turned over to the state and held. Once the states have the money they hold it until it is claimed regardless of how long that takes. The states typically earn interest on the money which is good for them and some states make attempts to find the rightful owners.
When owners or heirs fail to communicate an interest in an asset over a specified number of years known as the dormancy period, those left holding unclaimed assets: banks, stock brokers and transfer agents, utilities, employers and life insurance companies - remit the funds to the protective custody a government trust account in a legal process known as escheat.
Are you one of the millions of people around the country who may have unclaimed property or money? I have included links to all the states unclaimed property offices and if they have a website I have included that. Most have websites but if for some reason your state doesn't, just write to the address provided. Be sure to include your full name, social security number and last known address.
Become an Unclaimed Money Expert! Help your entire family locate and recover lost money owed to them. How many family members do you have? The odds are in favor that someone in your family has a claim available today.
You can also find unclaimed money with Unclaimed Money Search Software which will allow you to enter a name just once and search a multitude of unclaimed-money databases.