Unclaimed Property Network – Free unclaimed money search

What is Unclaimed Property (U.P.)?

Unclaimed property can be explained and explored with the following definitions:

1. Layman’s – Money, shares of stock and other property held by a government or state agency because the original owner failed to claim the property (or take possession) during the original transaction.
2. Legal – As a result of the Uniform Unclaimed Property Act, each U.S. state operates an Unclaimed Property fund in which the proceeds from abandoned bank accounts, unpresented checks, shares of stock, etc. are to be turned over to the state after a specified period of time.  Depending on state law, the money may be held either in perpetuity or revert to the state for general use.
3. Banking – The checking account balances, savings account balances and contents of safe deposit boxes which have been left dormant (unused) for a specified period of time.  The dormancy period varies by state.

What are some examples of U.P.?

1. Abandoned bank accounts
2. Uncashed checks
3. Abandoned safe deposit boxes (and its contents)
4. Unclaimed baggage
5. Pension funds of employees (who can not be located)
6. Forgotten life insurance proceeds

How do people lose track of their cash/assets?

• A change in address occurs and all applicable vendors are not provided with the new address.
• A check or refund is received and it is accidentally lost, discarded or shredded.
• A rightful owner dies and the heirs/relatives are unaware of a bank account, stock investment or safe deposit box.
• Clerical errors at businesses can accidently change the addresses of customers.  This results in returned mail.

Who holds U.P.?

Every U.S. state, some federal government agencies and even foreign countries all hold some various types of unclaimed property.  Here are some holders of unclaimed property that are not commonly searched like the U.S. State Treasurer’s offices:

1. Housing & Urban Development (HUD)
2. Federal Department of Insurance Corporation (FDIC)
3. Pension Benefit Guaranty Corporation (PBGC)
4. City governments
5. County governments
6. Teachers’ Pension Funds
7. U.S. Territories
8. Canada provinces

Why does the government hold U.P.?

Escheatment is a common law doctrine that operates to ensure that property is not left in limbo and ownerless.  The escheatment process dates back to 12th Century England.

How does the government receive U.P.?

Generally, companies of all sizes are required to file unclaimed property reports with their state annually and, in some jurisdictions, to make a good-faith effort to find the owners of their dormant accounts.  Companies write a check for the total of the unclaimed and/or abandoned payroll checks and submit it to the state with these annual reports.  Under a similar process, banks may remit the contents of safe deposit boxes where the owners can not be located.

How do I search for U.P.?

There are various ways to search for U.P. in addition to those shown here:

1. Visit the applicable government agency website(s) and input your name into their database search engine.
2. Visit a third-party business website which combines multiple state databases into one searchable database.
3. Pay a finder business to conduct the above searches on your behalf.

How do I retrieve my U.P.?

Usually, the process involves filling out the appropriate claim forms and submitting proof that you are the rightful owner of the claim.

How does UnProp.com help me?

Most of the general public today do not have sufficient time to search for themselves in the multiple unclaimed money databases available on the web today.  That is where we come in.  We notify you of the simple steps you need to follow in order to receive a check.  And the best part is, we do this for FREE!  Start your free unclaimed property search today!

Where can I find additional information?

On our website, we have additional information at these pages:

1. Glossary of terms
2. Fresh news articles
3. Facts and statistics – coming soon!
4. Free help for finder businesses