(Part 2 of 2)
Each type of property can be classified as "unclaimed" after it has been deemed abandoned. To be deemed abandoned, the asset must sit inactive for a period of 1, 2, 3, or 5 years, or in less common cases, 7 or 15 years (for money orders and traveler's checks, respectively). Generally speaking though, 1 to 5 years is general dormancy period range for most of these monies. Once the dormancy period has passed, the holder is required to pass the missing money along to the state, which then holds on to it until the actual owner is able to find it.
The reasons that it is hard to reunite unclaimed property with the rightful owners are numerous, but they usually all come down to a lack of knowledge about where and when to search. While a lot of web sites might claim to be "official" or say they have a complete database, very few actually provide legitimate records, and even the official state listings are quite unreliable. Once a claim is turned over to the state, an employee at the state has to physically add the record in to the missing money list, but this is not done instantaneously, so it's good practice to check the database often. Additionally, because of all the differing dormancy period lengths, a person might perform a search on a given day and then give up if they find no records, when if they had just searched again the year after they may have discovered a large claim that just happened to have a lengthier dormancy period.
When looking for lost money, there is more to it than just typing a name in to the search box of any old website. Issues that plague rookie searchers are easy to circumvent, but far too many go out on their own and are not able to track down money that is owed to them, which is why the totals get bigger continually all across the nation. Spending a little time studying expert search practices can greatly increase the chances of filling our wallets with money we didn't even realize we had.
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Missouri City working to refund forgotten
The “Show Me City” has hundreds of dollars in
States Giving Away Millions In
Kentucky, Indiana and Ohio are holding onto more than $2 billion that they would love to give away, and some of that
Millions in
More than $400 million belonging to Nevada residents remain
AG speaks about unclaimed property
Millions of dollars in unclaimed property is sitting in the state's hands waiting for residents to claim their rightful property.





















