West Virginia Unclaimed Funds
Did you ever wonder what happens to abandoned bank accounts and other financial assets whose owners can’t be found in West Virginia? The West Virginia Unclaimed Property Law requires financial institutions and businesses to pass them along to the government after a certain ‘dormancy period’. These assets will remain in the hands of the State Treasury until the rightful owners claim them. The law also requires states to make efforts in getting the lost money back to their rightful owners. Some states show more efficiency than others when it comes to this and the state of West Virginia regularly places among the nation’s top 10 in rate of return, according to a recent statement by the State’s Treasury Department.
Residents in counties throughout West Virginia have been getting unclaimed money checks from unclaimed financial assets which have been lost .
Despite efforts of award winning West Virginia State Treasurer John Perdue to give back missing money that belong to his state’s residents however, there is still roughly $110 million waiting to be discovered in West Virginia unclaimed funds.
The West Virginia unclaimed money total is so massive for the same reasons the nationwide unclaimed money from lost assets has amassed to over $33 billion. According to State Treasurer John Perdue, unclaimed money can arrive from a variety of sources – mainly because people just plain forgot about them. “They may have a paycheck coming to them that they didn’t realize or some stock their grandparents purchased when they were a child and it was forgotten in a safety deposit box,” Perdue says. “There are all kinds of unclaimed property examples where money was forgotten.”
No matter the reason, residents of West Virginia always need to do an unclaimed money search in West Virginia and other states where you may have lived. The easiest and most convenient way is to do this online with the assistance of a legitimate unclaimed money expert who can show you the proper methods of doing thorough and effective searches for your unclaimed money.
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