Unclaimed Money

If someone told you in the past that putting your name in to a search box on one web site is all you need to do, to perform a complete unclaimed money search, it's time you forgot that piece of misinformation.

Let's first define what we mean by unclaimed money. Also known as unclaimed property, unclaimed money is property that has either been forgotten or abandoned and then after a dormancy period of time, turned over to the state per state law.

Each state has its own unique dormancy periods for each type of state unclaimed money, which may include (but are not limited to) the following:

safe deposit box contents

payroll checks

dormant savings and checking accounts

uncashed money orders

unclaimed insurance benefits

unused gift certificates

unclaimed security deposits

found utility deposits

credits

stocks

cash or property like cashiers checks

mineral royalty payments

lost cash dividends

securities

court deposits

Now, it's estimated that 7 out of every 10 Americans are owed a slice of the multi-billion dollar gov unclaimed money pie, but most don't even know it. And those that do know it, generally don't know how to search correctly. Most people are under the impression that searching on any given web site is all you need to do, but this couldn't be more wrong.

For starters, even the records that each state keeps online are HIGHLY unreliable. The states update their records very infrequently, so even if a company has turned over some of your unclaimed money, the state might not have made a record for it in their system.

In addition to unreliable state data, unclaimed funds are often in the limbo we known as the dormancy period. If a company (a bank, for example) has your unclaimed money, but the amount of time hasn't passed that requires them, by law, to turn the funds over to the state, then the state would obviously have no record in that situation either. We call this unclaimed funds limbo "pre-escheat".

These are just 2 of the reasons you may have had trouble locating your unclaimed money in the past (or will in the future, if you don't learn how to perform thorough searches).

If you want to learn how perform an exhaustive government unclaimed money search both online and off line, visit the web site below:

UnclaimedMoney.net