Q:

How do you find unclaimed money held by state governments?

A:

Quick Answer

To find unclaimed money held by state governments, a person has to check with each federal agency because there is no central government service for unclaimed property. An individual can conduct an online search to find out about unclaimed money after which one can make a claim.

Continue Reading

Full Answer

The Federal Government has no responsibility to help individuals recover unclaimed money. To recover unclaimed property, an individual must follow the laws put in place by the state holding such property. Types of unclaimed property include proceeds from life insurance policies, utility deposits and royalty payments. Most states require entities such as financial institutions and public organizations to report property that has been unclaimed for a specific period, if the institution cannot locate the owner.

The state of Texas requires individuals with unclaimed property to request for a search of the unclaimed property through telephone, mail or fax. Each request must include the name of the property, addresses in cities within Texas where the individual has lived and his contact information. At least a quarter of Texans have unclaimed property held by the state government, as of 2014.

An individual can search for unclaimed bonds that have matured and are no longer earning interest using Treasury Hunt. An investor can search for unclaimed stocks through The Securities and Exchange Commission, which lists entities that owe investors money.

Learn more about Personal Banking

Related Questions

Explore