Learn How to Find Unclaimed Money Starting Today

Access All 50 States Unclaimed Property Database With The Help of My Free Forgotten Loot Guide!

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How to Locate Unclaimed Property? Find out in just a few minutes. Your family and friends will know if they have any unclaimed money, property, or valuables in their name. Download my “Forgotten Loot Guide” to start looking now. It’s Free.

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Why Are There Unclaimed Property?

Unclaimed property exists for a variety of reasons. Here are some common scenarios that can lead to property becoming unclaimed:

Bank Accounts: Savings or checking accounts that are inactive for a long period.

Retirement Accounts: 401(k) or pension funds that are left behind when an individual changes jobs.

Payroll Checks: Paychecks that are not cashed by employees.

Unpaid Wages: Wages owed to employees who left a job and never collected their final pay

Life Insurance Policies: Benefits from life insurance policies where the beneficiaries are unaware of the policy.

Health Insurance: Refunds or claim payments not collected by the policyholder.

Utilities: Refundable deposits paid to utility companies that are not claimed after the service ends.

Unclaimed Shares: Stocks or bonds that the owner has forgotten about.

Uncashed Dividends: Dividend checks from investments that are not cashed by shareholders.

Contents: Items left in safe deposit boxes where the rental fees are not paid and the owner cannot be located.

Government Refunds: Tax refunds or other government payments that are not collected.

Business Refunds: Refunds from businesses that are not cashed by the recipient.

Vendor Payments: Payments to vendors or suppliers that are not collected.

Inheritance: Funds or property left from a deceased person’s estate where the heirs are unaware or cannot be located.

Class Action Settlements: Settlement funds from class action lawsuits that are not claimed by eligible recipients.

Why Does This Happen?

Lack of Awareness: The property owners or their heirs are not aware of the existence of the property.

Lost Contact: Owners move or change their contact information without updating their records with financial institutions or businesses.

Neglect: Owners forget about old accounts or small amounts of money.

Deceased Owners: The property owner passes away without informing their heirs about the assets.

States Involvement

States have laws requiring financial institutions, businesses, and other entities to report and remit unclaimed property to the state after a period of inactivity, known as the dormancy period. This ensures the property is safeguarded and can be claimed by the rightful owner or their heirs.

By understanding why unclaimed property exists, individuals can be more proactive in keeping track of their assets and regularly checking for any unclaimed property that might belong to them.