Lost Money = Unclaimed Property
Did you lose some cash or non-cash property that you don’t know about? The states may be holding your lost money. When you leave an account (bank, utility deposit, payroll check) idle too long, companies are required to turn the cash and property over to the State of the last known address. Each state has their own unclaimed property rules. To find out if you have unclaimed property, just do an internet search on a particular state’s unclaimed property division and search their website for the name. States require you to prove who you are before they will release the funds. If they are holding non-cash property, the states will usually convert the non-cash to cash property. So do you have unclaimed property? Unless you search for your name, you never know if you have lost money until you do a search.
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