Unclaimed Property is money owed to people and companies that gets turned over to New York when companies can't find people to pay it back. For example, if you move and you don't tell your utility company your new address, they don't know where to send your refund check. In this case they would turn the money over to New York as Unclaimed Property. New York would then hold it until you come and claim it. Some states take the money after a certain number of years, while some hold unclaimed funds indefinitely.
Here's the important thing - you could have free money waiting for you!
Total Unclaimed Funds
Sixteen Billion Dollars
Average Claim Size
$4,240 to $8,480
Claims Per Year
Four Hundred Million dollars
According to this May 2021 Democrat and Chronicle article, the State of New York is holding over Sixteen Billion Dollars in unclaimed funds.
Over Nineteen Million people live in New York, so that means New York is holding over $848 per resident! Not every resident has unclaimed funds, so that means the average claim is much higher. Usually 1 in 5 to 1 in 10 people have unclaimed assets waiting for them, which would make New York's average claim between $4,240 and $8,480.
In just 2021, New York returned an astounding Four Hundred Million dollars to people with unclaimed money and property.
Some common examples of unclaimed propert include:.
Many times people forget they have accounts open with companies, or move companies that owe them money can't find their new address. For exampe, electric companies, natural gas companies, phone companies, and others often owe people money when they move, but can't find the person's new address to send them a check. After a certain time period the company must turn that money over the the state, and the state holds it until the owner comes to claim it. Approximately 1 out of every 10 people in the US have unclaimed money waiting for them, they just have to claim it.
You can search for and and claim unclaimed assets on the New York's official webste.
Here's how to do it:
Claiming funds using the New York Unclaimed Funds state website can be a bit tricky. Follow the instructions below to see if you have unclaimed money owed to you and to see how to claim it.
To start your search, head on over to https://ouf.osc.state.ny.us and click the "Search Now" button.