Billions in unclaimed funds to be claimed, check to see if you have unclaimed money waiting

JACKSONVILLE, Fla. — According to the National Association of Unclaimed Property Administrators, financial institutions, businesses, and government agencies currently hold billions of dollars in unclaimed funds and property. These assets remain in the possession of various entities until they are claimed by their rightful owners.

Unclaimed or abandoned property refers to accounts or assets that have had no activity or owner contact for a year or longer. After this designated dormancy period, law requires that the property be turned over to the state.

Unclaimed property is categorized as either intangible or tangible. Intangible property is the most common form and includes uncashed payroll checks, stocks and dividends.

Tangible property typically refers to physical items, such as the contents found in safe deposit boxes.Standard banking and investment accounts make up a large portion of these abandoned assets. This includes funds from checking and savings accounts, certificates of deposit, and trust distributions. Other financial instruments that often go unclaimed include traveler’s checks and unredeemed money orders.

To find more information regarding unclaimed property, click here.