Unclaimed property refers to financial assets or property that have been abandoned or forgotten by their rightful owner for a specific period, known as the dormancy period. This can include a wide variety of assets, such as:

• Bank accounts or safe deposit boxes
• Uncashed paychecks or dividends
• Refunds, utility deposits, or overpayments
• Stocks, bonds, or mutual funds
• Insurance policy proceeds
• Gift cards or certificates (in some states)

Businesses, financial institutions, and other entities are legally required to report and turn over unclaimed property to the state when they cannot contact the owner after the dormancy period expires. Each U.S. state maintains an unclaimed property program to safeguard these assets until the rightful owner or heir claims them.

How to Find and Claim Unclaimed Property

1. Search for Unclaimed Property

The first step is to search for unclaimed property that may belong to you or your family. To do this:

• Visit the National Association of Unclaimed Property Administrators (NAUPA) site: www.unclaimed.org.
• Search state-by-state using the official websites listed there.
• Use multi-state databases, like MissingMoney.com, for a consolidated search across multiple states.

2. Provide Required Information

To claim the property, you must prove ownership by submitting documentation, which may include:

• Government-issued ID (e.g., driver’s license or passport)
• Proof of address (e.g., utility bills or bank statements)
• Social Security Number (to match official records)
• Documents linking you to the property, such as account statements, pay stubs, or other evidence

3. File a Claim

Follow the instructions on the state’s unclaimed property website to submit your claim. Depending on the state, you may need to complete an online form or submit a paper claim along with the required documentation.

4. Verification and Payment

The state will verify your claim, which may take a few weeks to several months. If the claim is approved, the property will be returned to you. Payment can come in the form of a check, electronic transfer, or, in some cases, in-kind assets like stocks or valuables.

Tips for Claiming Unclaimed Property

• Check all states where you have lived, worked, or held financial accounts.
• Periodically search for unclaimed property under your name, as well as for family members or even deceased relatives.
• Use free, official resources like NAUPA or MissingMoney.com and be cautious of third-party services that charge a fee—most searches are free.

By regularly searching, you can potentially recover funds or valuables you didn’t know existed.

My Own Experience

Searching for unclaimed property is simple and worthwhile. I began by using the NAUPA website and the unclaimed property websites for states where I previously lived. While some states make the process easy, others require registration before you can proceed. I also used MissingMoney.com, which allows for an initial search across multiple states before redirecting you to individual state websites for further action.

During my search, I discovered one record of unclaimed property for myself and two for my son. I underwent the process to reclaim these assets. After some back and forth with the state office about which documentation I had to supply, I received the unclaimed property, which was several thousand dollars.

What to Expect During the Process

If you find unclaimed property, you will need to provide basic information such as your name, address, and Social Security number. You may also be required to submit documentation, such as a copy of your driver’s license or birth certificate, to verify your identity.

It’s important to note that property is not considered abandoned until it has remained unclaimed for a certain period of time—usually around five years, though this can vary by state. After this period, the property is turned over to the state, where it remains until the rightful owner steps forward.

While the process of claiming unclaimed property can take several weeks or even months, it is well worth the effort. You might uncover a significant amount of money or assets that you never realized you had.

PS: Maybe it’s not enough for you to beat the market…you want to crush it. Consider my colleague Jim Fink, who has a proven track record of reaping outsized gains within short time frames.

As chief investment strategist of Velocity Trader, Jim Fink has devised a methodology that generates market-thumping returns…in up or down markets and regardless of political events.

In a new presentation, he explains the simple strategy he uses to rake in gains of 104%, 164%, and 203%…in as little as 72 hours. Can his trades really be this profitable? Click here to find out.