It occurred to me the other day that many of you might have money that you do not know, or have forgotten about. This money is just sitting there waiting for you. Yes, I know it sounds too good to be true but this is truly legitimate.
It’s called “Unclaimed Property” and according to the Department of Treasury, one out of eight people in the United States have some sort of “Unclaimed Property.” This is usually money, but sometimes it’s also stocks, or other types of securities that belong to you. It could be money that was sitting in an old bank account that you forgot about or a deposit you had with the phone company that you never got back.
You see, when companies – including banks, utilities, insurance companies – or anyone else hold money that belongs to you and can’t locate you they are required to turn over the money to the State after a certain period of time. This time period might vary from state to state. The State will then hold on to this money (or other assets) and will either print a list of what it holds or will make a searchable database available. All you need to do is to find the appropriate site for your state and search for your name. If you find money or stocks belonging to you, the site will generally provide instructions on how to claim the money. There should never be a fee to claim your money.
For example, if you wanted to search for money in California, you would go to the State Controller’s Website . There you will be able to search for money belonging to you.
Be sure to search the database for each state you might have resided or done business in or with.
Good luck in your hunt.