Unclaimed Property

What is an Unclaimed Property?

Lost, mislaid, and abandoned property is a category of the common law of property which deals with personal property which has left the possession of its rightful owner without having directly entered the possession of another person

Common Examples of Unclaimed Properties:

  • Dormant Bank Accounts
  • Stocks and Bonds
  • Uncashed Dividends
  • Insurance Refunds
  • Stock Splits
  • Uncashed Tax Refunds
  • Utility Refunds/Deposits
  • Supplier Checks Not Cashed

Common reasons for Property going Unclaimed. The financial institution or claim holder was unable to locate the owners due to:

  • Address incorrect/change
  • P.O. Box Closed
  • Check addressed to an employee who Retired/Terminated
  • Company acquired, merged, “identity lost” in payables system

 

 

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