Accordig to the National Association of Unclaimed Property Administrators,
It means that sometimes people forget they have accounts open with companies, or move and utility, phone, and other companies owe them refunds but can't find the person. 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. California alone is holding $10.2 billion dollars of unclaimed property!
Some common examples of unclaimed propert include:.
No, states keep the property until the rightful owner claims it. This means that you may have unclaimed property from yeras, or even decades ago. It also means a deceased relative may have unclaimed property that you may be entitled to.
For California property we recommend using our service, we offer the fastest way to get paid and the easiest process to go through (we take a very small cut of the payment for our service). For other states, you can either just search the state name and "unclaimed property" and go to the state website to search, or email us if you would like our help. Be sure to search all of the states that you lived in!
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