Escheatment occurs when an agency or business holding on to unclaimed money cannot locate the owner. Escheated accounts are derived from sources such as bank accounts, stock dividends, and tax refunds. Dormant accounts are escheated to the state where these monies and accounts are located. Escheated funds can generally be reclaimed indefinitely- if they are located and proof of ownership is
. provided. For more information on escheated accounts visit www.bankrate.com/brm/news/bank/20010207a.asp.