What is Unclaimed Property?
Bank accounts, insurance payments, wages, commissions, dividends, stocks, utility deposits or other intangible property become unclaimed money when they go unclaimed for an extended period of time as specified by state laws. Often a company or government isn't notified of an address change and is unable to locate the owner of the unclaimed property. After a specified dormancy period, this missing money is turned over to the state for safe keeping and the owner's names are added to the state databases.
Do you have unclaimed money?
If you have ever moved without leaving a forwarding address or failed to notify a bank, a business, or a government agency of your move, you are very likely to have unclaimed money waiting for you to claim. And often, unfortunately, loved ones pass away without leaving behind records of bank accounts, savings accounts, life insurance policies, stocks and other financial interests.
Every state has an unclaimed property department and a searchable online database.
Use the links we provide to find these free state unclaimed money databases. These government agencies are drawing interest on your money while they wait for you to find it!
The Federal Government also has unclaimed money - many millions of it! Check the federal links such as FDIC, HUD, IRS, PBGC, Federal Treasury Hunt and others. According to irs.gov, "The IRS also has millions of dollars in checks that are returned each year as undeliverable." The PBGC has unclaimed pension money and the FDIC is holding unclaimed insured deposits from bank failures. And the Bureau of Public Debt ( The Treasury) has a search entitled Federal Treasury Hunt!
An often overlooked form of lost money is lost life insurance policies. Up to 20% of life insurance policies become lost life insurance and are turned over to state unclaimed money departments. Often these life insurance polices become lost life insurance policies because the survivors never knew the policy existed.
Real Estate is never included in the definition of Unclaimed Property as used by federal and state laws concerning "escheatment" or the disposition of abandoned property.
Have You Received A Letter Stating That You Have Unclaimed Money?
Many people receive letters stating they have unclaimed money belonging to them. The sender usually states in the letter that he or she will claim the lost money for a fee or percentage of the money.
Letters of this type often come from an "Heir Finder". Heir Finders specialize in searching out unclaimed assets to reunite with the owner. A finder company will want their cut - up to about 30% or more of your missing money. Most states limit the amount that a finder company can charge. In all cases, an individual can apply directly to the state to claim the missing money at no cost.
How Much Unclaimed Property Is Out There?
Various estimates place the total amount of unclaimed money owned by Americans anywhere from "billions" to a trillion dollars. The State of Florida alone reports more than a billion dollars in unclaimed money that it holds for owners. Florida, like most states, offers free searches of unclaimed funds to owners. So does New York which holds about $6 BILLION in unclaimed money!
Why All This Money Is Unclaimed
Why is there so much property sitting in the states' unclaimed money accounts? People simply don't know about it! Our mission is to save you hours of searching the web to find your missing money.
Should you consider a "pay to search service"?
All of the government and some of the private databases we link you to are absolutely free. However, since not all missing money is yet listed in government databases, if you feel there is a high probability that you will find missing money, you may want to consider the "pay to search" services you will see advertised on this site. These services may have access to some missing money before it is published in state databases. This can be unclaimed money that you won't otherwise find.
How To Prevent your property from becoming Unclaimed Money:
Three Reasons your unclaimed money might not be in a state databases: