Tuesday, August 28, 2007

Learn the different types of unclaimed property

  • You can learn the different types of unclaimed property - Knowing what you are looking for and where to look helps in having a successful search.

  • Learn the different types of unclaimed property for searching for missing money, unclaimed funds, unclaimed assets, and etc.
  • Find out how property becomes listed as unclaimed - It could be that you moved after submitting your tax refund so it was mailed to your previous address.
  • Learn how to search databases - You can search by last name and first name (Doe John) or last name and first name initial (Doe J) and it is very important to use your middle name or initial to identify you from others with the same name. If someone have the same middle initial as you, to identify the owner of unclaimed property, you may have to provide proof of last know address.
  • Learn how to claim your property
  • In order to claim missing money, you must provide verification of who you are, verify said address reported for unclaimed property. There maybe other steps required by the state unclaimed property office. Such as mailing a copy of your birth certificate, picture identification, etc.

Unclaimed Money & Unclaimed Property totals are in the BILLIONS OF DOLLARS!

Unclaimed money & property are usually kept by each state's Treasury Department. These unclaimed funds result in billions of dollars and all you have to do is check to see if you are one of the individuals or companies that are owed money! You have a right to the money. It belongs to you.

Each state has lists of unclaimed money or unclaimed property

There are plenty of companies that check this database, locate individuals that are owed money and charge a fee, there's an easy way to do it yourself.

Estimates indicate that state governments are holding more than $10 billion in unclaimed property. Banks, businesses, government agencies and other entities across the nation are believed to still be holding at least this much. Approximately 26 million Americans are the rightful owners of this unclaimed property.

Unclaimed money goes to the government


State Controller John Chiang has pledged to use a new law to aggressively track down the owners of thousands of dollars' worth of unclaimed property seized by the state.

A federal judge in June called the state's notification process unconstitutional and ordered the controller's office to stop taking possession of any assets or property thought to be abandoned.

Even the law makers want you to find it, It could be yours thousands of dollars.

< of assets are seized by the state as lost or abandoned each year.

GET in before all stocks, bonds, cash and family heirlooms are sent to the state, start tracking down property

The state has faced growing criticism in recent years for not trying hard enough to track down the owners of unclaimed property before banks and other financial institutions turn them over to the state as unclaimed property.

That would include money left in old bank accounts, insurance refunds and stock dividends.

The California Department of Finance said the state expects gross revenue of $736 million from the unclaimed property program this fiscal year, with a net of $442 million that will go into the general fund after owners claim seized property.

State law requires the government to return the cash value of the seized property whenever the rightful owner asks for it, but few typically do that.