New Unclaimed Money Searches Available

By Author: Nicole Anderson
Total Articles: 82
Comment this article

The quantity of unclaimed property in America is vast. Unclaimed property is scattered in the country in different forms. Un-cashed overtime checks, insurance refunds and forgotten apartment security deposits are among some of the most common types. It is the responsibility of the bank authorities to hand over the unclaimed assets to the state authorities for safe custody. In order to encourage people to come up and claim what is theirs, over 50 states have set up dedicated websites that can offer independent unclaimed money search.
As per the law of U.S. unclaimed property, a property is considered dormant or lost when the ownership is lost for a particular period. A property is lost due to reasons such as name change of a person, change of address, sudden death and change of residence. The state of New York alone is sitting over a giant pile of $10 billion and Texas is not far behind. The largest contributors in terms of unclaimed money in the U.S. is unredeemed savings bonds and IRS refunds, which comes to be around $17 billion, while others include social security checks that ...
... were never delivered to the owners or never cashed.
Compared to the older ways for searching unclaimed money, now searching is very easy and it does not require the applicant to stand for long hours in the State Treasury Office. In order to find unclaimed money, the best thing to do will be search on the state websites using different combinations of your name because it is not necessary that all searches are available within a single name. For example, if your name is Tim J Cooper then you should try different name combinations like J Tim Cooper and Cooper J Tim.
The second step includes writing down the names of all the different states you have resided in and searching the individual databases of that particular state for results. The search related to free unclaimed money need to be properly filtered and refined because the property might be scattered in different states. It is very difficult to search every state database with equal dedication, which is why all in one database prove to be a relief. Before starting the search in all-in-one database, you should ensure that it is updated on a regular basis.
Refining your current option is always a good option as it makes the search even better. One can filter his or her current search by entering different searches to get results. Entering different account numbers can also offer better search results. There are several formalities and paper work involved in the application procedure of the reclaiming process, which is also considered the toughest part.
While entering the account number, make sure that you search by using every account number that you have owned since childhood. Searching the State Treasurer’s website for information related to items and properties under your name is a good option. The above-mentioned steps are the basic steps involved in the process of unclaimed money searches.