|
According to one
state, it's inhabitants are owed
more than $110 million by
the state treasury's unclaimed property
department. Unclaimed finances can be
easily obtained from the state holding it.
The only way to know if you are beholden
money is to learn the proper ways to
perform a thorough search and explore all
possible claims.
Unclaimed
property (sometimes referred to as
abandoned) refers to accounts in financial
institutions and companies that have had no
activity generated or contact with the
owner for one year or a longer period.
Common forms of unclaimed property include
savings or checking accounts, stocks,
uncashed dividends or payroll checks,
refunds, traveler's checks, trust
distributions, unredeemed money orders or
gift certificates (in some states),
insurance payments or refunds and life
insurance policies, annuities, certificates
of deposit, customer over payments, utility
security deposits, mineral royalty
payments, and contents of safe deposit
boxes.
When it comes to
returning unclaimed estates to its
inhabitants, the state doesn't do such a
great job of reuniting these funds with
their rightful owners. Many states and
federal unclaimed property divisions are
drastically understaffed. This
restricts their abilities to regularly
update there records and proactively pursue
property owners.
Some states are now beginning to pass laws
by which assets left unclaimed after a
specific number of years, that is in their
custody, will not longer be claimable by
the owner. It will become the property of
the State. Previously there was no statute
of limitation on unclaimed property.
In the majority of the states that statute
still stands, however, it is quickly
changing. The rules concerning
tangible belongings left in an abandoned
Safe Deposit Box is also changing.
Now, in most States, it is to be auctioned
off and the proceeds credited in the
owner's name. The proceeds amount may not
be listed in the database until after the
auction. Some states do pay interest on the
money if the property was originally an
interest bearing instrument. You must check
with your individual state and find out
what their procedures are.
Isn't it time you
checked to see if you have unclaimed money
due to you? You can do it
yourself, if you know how.
For those that
can't or don't want to take on the task
themselves, there are companies that will
do the searching for you. Sometimes called
heir finders or asset locators, the firms
help reunite owners with their property for
a fee.
Be sure you are
dealing with a reputable company. One
way to tell is legitimate companies will
never ask for payment before the property
is returned to the rightful owner and
whatever they charge is generally a
percentage of the money to be returned, not
a flat fee. Also, if the company contacted
you, before requesting you sign anything,
they will be able to identify the
property and verify that it's
yours.
I am sure as you
read you have some question regarding the
validity of the amount of unclaimed money
and property available; Could some of this
be yours? Most likely it is. Are you
interested in finding out for sure? Contact
the author of this article to learn
more.
Property is
considered abandoned if there has been no
activity on it for more than three years.
There are nearly half a trillion dollars in
undeclared estates and lost money waiting
for you in your state war chest.
There is a good chance that some of it
belongs to you. You and many many others
have an interest in what happens to all of
this lost money. Are you going to receive
your inheritance or be a loser and refuse
to do something with the multitude of the
services that your state offers?
Are you
going to claim your lost money?
You can also visit our web site
http://www.unclaimed-money.nichetray.com
and allow us to assist you.
Article source:
http://ezinearticles.com/?expert=Janet_Rusky
The USA Unclaimed
Money Guide helps you locate
Unclaimed Money in My
State.
state money, unclaimed tax money and unclaimed
tax refunds
|
