How to Locate Escheated Monies
State and Canadian provincial laws require that unclaimed money or property must be deposited with the state or province where a person or business is entitled to the property. This can result from misdirected mail or when a person or business has moved without a valid forwarding address. Such property is called "escheat" property.
Although there are professional "unclaimed property locator services" that charge fees to locate such property, locating escheat property online is relatively easy. Some of the types of property that can escheat can include contents of safe deposit boxes, closed bank accounts, stocks and other securities, money, or checks.
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Things You'll Need
- Internet access
- Proof of identity
- Proof of right to escheat from deceased persons
Instructions
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Go online to the Missing Money website. This is the official website of the National Association of Unclaimed Property Administrators (NAUPA). Although most states and Canadian provinces report unclaimed property through this site, there are some states (such as California) which do not report to the Missing Money website. You will need to search for property located in these states at that respective state's official website. The Missing Money website does, however, provide links to each state's respective unclaimed property department.
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Enter the name of the person or business that may be owed money or other property as requested at the Missing Money website.
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Review the results. You may need to refine your search in the event too many names are returned on the original search. States reporting to the MissingMoney website usually do not disclose the exact amount owed to people or businesses but may indicate a range (such as over $100.00 or below $100.00). California is one of the few states that provide the exact amount of the money or property that is being held.
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Contact the respective reporting state agency for a claim form, in the event you are owed money or property. Claim searches for federal government agencies must be conducted through the respective federal agency. There is no central federal agency registry for escheat property.
Heirs can make claims to a relative's escheat property. For example, Holocaust-era dormant Swiss bank accounts can file claims through:
Swiss Banking Ombudsman
Scheizergasse 21
Postfach 8021
Zurich, Switzerland
011-41-213-1460 -
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File the claim form with the reporting agency holding your property or money. Claims must be validated in most cases. You may be asked to show proof, for example, of ownership of a business or sales receipt. Another example would be proof of ownership of an automobile on a specific date (such as an auto title registration record).
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Wait for your claim to be processed. Some states process claims promptly. California claims, however, can take up to six months to process and payment to be made.
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References
Resources
- Photo Credit 3D dollar sign with multiple smaller dollar signs. image by Steve Johnson from Fotolia.com
