The law dictates that any unclaimed checks, dormant accounts, and abandoned properties should be reported to the government to give a chance for the rightful owners to still claim their assets even over a long period of time. If financial institutions and businesses do not comply with this law, they will be penalized for it. In fact, even partial compliance is totally unacceptable.

This law gives a chance for those people who have relocated to other States, have changed their names and civil status, and those who are unaware of their inheritance, to stake a claim provided they have proof of their proprietary rights over these unclaimed assets.

If you suspect that you might have some unclaimed checks, then you have to investigate further and check all means possible in order to find out if there are any checks to be claimed. Here are some pointers that you can follow:

  • These unclaimed checks may come in these forms: from dormant checking and savings account, royalty payments, security deposits, trust funds, earnings from mutual funds, stocks, bonds and insurance claims; this may also come from lottery winnings that are unclaimed, inheritance and wages or back pays from previous employers.
  • The initial search can be done online. Just go to the website of the Division for Unclaimed Properties of the State that you came from, and search your name in their database. Make sure you try all combinations of your name which includes your middle name or your maiden name if you are now married.
  • Print out the claim form from the website. Fill this up and supply all the necessary documents then attach this together with the claim form. Make sure that you follow each instructions in submitting the form carefully.

Searching and claiming unclaimed checks is not as difficult as it used to be; so a little effort from your end will not be too much of a hassle. The important thing here is to begin with the search and don’t stop until you have looked at all possible avenues. In the end you will reap the harvest of your efforts.

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