Unclaimed Property Search
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There are multiple ways to perform an unclaimed property search. Most unclaimed funds are categorized in unclaimed money database operated by each state. There are also unclaimed property databases for the federal government where you can search for unclaimed property.
Unclaimed property searches are gaining popularity as most states have millions and even billions in unclaimed property in the state coffers. Every state has laws that once property becomes unclaimed it must remain in the state unclaimed property database until it is claimed.
Not all states have this law about unclaimed property, but most do. There are some states which will auction off unclaimed property to the highest bidder and then keep the money obtained form the auction until the rightful owner of the unclaimed property steps forward to claim it. Even if you don’t have unclaimed property due you, then you can bid on these unclaimed property auctions. Many states are actually using eBay for their unclaimed property auction endeavors.
This unclaimed property comes from a variety of sources. some property becomes unclaimed because people have forgotten about safety deposit boxes and some property becomes unclaimed when a inheritance is not claimed. This happens more than you would expect. If you think you may have unclaimed property the first step will be for you to perform an unclaimed property search at your state’s website or the state where you suspect you may be due unclaimed property. Some states such as Ohio keep a percentage of any unclaimed property they may award you, but if its unclaimed, then you did not know you had unclaimed property anyway.
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