Tips in Using the Unclaimed Property Database

Sometimes, if a person moves to another state, businesses and financial institutions are neglected to be notified. When this happens, proceeds or unexpected money coming in like dividends, royalty payments, back wages, commissions and even lottery winnings are not successfully delivered to the rightful owner. In this regard, the government has issued a law that mandates these businesses and financial institutions to report and hand over the unclaimed properties to the government agency handling it. In return, the agency then puts it in what is called unclaimed property database so that people who might be searching for lost or unclaimed property can go to this list to try and search for their names.

If you think you may be one of these people, then here are some tips in using the unclaimed property database for you to check if you have abandoned, lost or unclaimed properties.

• Go to the Federal State website and search through their database.
• Try different combinations of your name including your middle name in your search. Also try your initials as well as your maiden name if you’re already married.
• Make sure you have written down your last known address.
• Go to State Fairs that entertain walk-in inquiries on unclaimed properties.
• For a wider and more thorough search of unclaimed properties, you may also go to agencies offering to help you through the unclaimed property database.
• Make sure you have proof of proprietary in your possession at all times.
• Make sure you download the claim forms on the State Division for Unclaimed Properties website.

It is important to note that you should be patient in looking for your name on your list. In case you don’t find your name on the unclaimed property database, two things can be possible – it’s either there really is no unclaimed property or the property might be in safekeeping for only a period of two years or below. If it is the latter, then it definitely won’t be open for public inspection. If this is the case then you can go to the Division of Unclaimed Property to make a request for further search or you ask for the health of government accredited third party agencies.