In 2018 I learned every state in the US has an unclaimed property (money) program that continuously finds owners of the lost or forgotten property. Typically unclaimed property occurs when a business or government office sends you money that you don’t collect. Hoping to get lucky, I promptly searched for unclaimed property associated with my name in Florida and Texas. It turns out I was owed property in both states totaling over $500. Good news, you may be just as lucky! 1 in 10 individuals has unclaimed property, but most people, such as myself, are unaware it exists or how to find it. Below I’ll detail what types of property you can claim and how to claim it.
What Can I Claim?
According to the National Association of Unclaimed Property Administrators types of unclaimed funds may include:
Checking of savings accounts
Stocks
Uncashed dividends of payroll checks
Refunds
Traveler’s checks
Trust distributions
Unredeemed money orders or gift certificates
Certificates of deposit
Customer over payments
Utility security deposits
Mineral royalty payments
Contents of safe deposit boxes
Insurance payments of refunds and life insurance policies
Annuities
How Do I Find My Unclaimed Money?
Option #1 (Best Option): Search and claim your funds
Each state maintains a database of reported unclaimed property. It’s incredibly easy and free to search and claim your funds. For my claims, I did not need to provide any additional evidence as the funds were associated with SSN. Upon completing the online claim form, I received a check in the mail within two weeks. You may search for your unclaimed property by state and nationwide.
Search by state: Use the interactive map to find your state’s official unclaimed property search website at The National Association of Unclaimed Property Administrators
Search nationwide: Search multiple states at once through MissingMoney.com. Note: Limited states participate in this service.
Once you have found a property that you believe is yours, you will be required to submit an online claim form to initiate the process. Depending on the type of property, you may also be required to provide additional identification and evidence of ownership.
Option #2 (Not Recommended): Leverage a Claimants Representative
A Claimant Representative should be registered and licensed in your state. They will request Limited Power of Attorney to act on behalf of the Claimant (you) to help with the recovery of unclaimed property. These firms will take a percentage of the funds recovered. While legalities of these services vary by the state, it’s not necessary to use them. It’s just as easy and free to search and claim your property as outlined in option #1.
It’s that easy! A quick search and you could find yourself hundreds of dollars richer. Happy hunting!
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