State Unclaimed Money Available To Claim

By Author: Nicole Anderson
Total Articles: 82
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Lost money exists, and it is more than finding forgotten dollar bills or spare changes behind your pillow or in difficult corners of your home. There may be a chance that money may get lost with time, but this unclaimed money is always available for to claim back. All a person needs to do to find this lost money is start searching. As per the records of NAUPA or National Association of Unclaimed Property Administrators, about $32.8 million of unclaimed funds are still lying with the state.

It is because of the continuous efforts by NAUPA that more than $1.9 million was successfully returned to its rightful owners. These efforts included activities such as: state fairs, press releases and even public notices. The state agencies still believe in creating a unique platform for the people to reclaim what they believe is theirs.

Unclaimed funds continue to rise at a very alarming rate and it is because of the ignorance of the public. It may be an astonishing fact that most are unaware of the fact that unclaimed funds lying in different parts of the state in the form of un-cashed check, gifts or idle savings account ...
... currently exists.

The financial asset that has no activity by its rightful owner for more than a year is termed as unclaimed property. People who have lost their property can relax because as per the state law, the financial institutions have to hand over the custody of these idle accounts to the state if they are no longer in use. These include includes savings accounts, safety deposit boxes, checking accounts, stocks, certificates of deposit, matured life insurance policies, and un-cashed death benefit checks.

Money can become unclaimed due to changing of residences without proper notification to utility companies or bank institutions. Without the correct address, these companies or institutions are unable to send remaining balances or deposits that are due back upon termination of service. This creates unclaimed money, which is now being held at the state level.

One of the easiest ways to start the unclaimed money search is by visiting the official website of NAUPA, which is a non-profit organization affiliated to National Association of State Treasurers. This website will allow independent searches to be conducted by using first and last names. Most of the states are now publishing advertisements in newspaper twice a year along with the names. Therefore, it is better to keep a close check on these advertisements.

Submitting written inquiry to the State Treasurer’s office is also a very good option to find any lost money, as they will not provide you all the information over the phone. Note all the possible states where you have worked in or have lived in so that the search is able to locate all unclaimed money, in the country.