Unclaimed property is a term that covers assets that have been untouched by the owners for an extended period. Each state in the US has unclaimed property laws that guide how the assets are managed. Unfortunately, many people are not aware of these laws, and as a result, they miss out on claiming assets that rightfully belong to them. Understanding the available unclaimed property options by state can help you get back your lost assets. In this post, we explore the different unclaimed property options you have, no matter what state you live in.
Check with Your State:
The first thing to do is to check with your state. Most states have unclaimed property databases where you can search for your lost assets. You can access your state’s unclaimed property database online or by contacting your state’s unclaimed property office directly. Be sure to have your personal and contact information ready when making the inquiry as it makes it easier to identify you correctly.
Online Search Services:
Sometimes you may not be sure which state the unclaimed property is in. Fortunately, there are many online search services like Unclaimed.org that can help you track down lost assets. These services collect information from across multiple state databases and help you find your assets, no matter where they are. The best part is that most of these services are free and user-friendly. MissingMoney.Com is a well-regarded resource for many started their property search journey.
National Association of Unclaimed Property Administrators (NAUPA):
The NAUPA is a non-profit organization that consists of state unclaimed property administrators that work together to facilitate the return of unclaimed assets to their rightful owners. They have a website where you can find links to state unclaimed property databases and other resources that can help you in your search. The NAUPA also provides a list of frequently asked questions that can help you understand unclaimed property laws and procedures better.
Professional Help:
If your search for unclaimed property seems overwhelming, you can hire a professional to take the load off you. There are many reputable unclaimed property finders out there that can help you with your search. It’s advisable to check their credentials before hiring to avoid scams.
Auctions:
If your state’s unclaimed property office cannot locate the owner of the assets, they may hold auctions to sell the assets. You can participate in these auctions and get a chance to purchase your lost assets. However, it’s worth noting that you’ll not get the assets at a discounted price and may end up paying more than they are worth.
While unclaimed property may seem like a minor issue, it’s worth exploring your state’s unclaimed property options to ensure that you’re not missing out on any assets that belong to you. Whether you choose to take on the challenge of finding your assets yourself or use a professional, always approach the process with caution and don’t fall for scams. Best of luck in your search for unclaimed property!
