January 24, 2012
Locate Oregon Unclaimed Funds – Part 2 of 2
(Part 2 of 2)
Each type of property can become "unclaimed" once it has been deemed abandoned. To be considered abandoned, the asset must lie inactive for a period of 1, 2, 3, or 5 years, or in certain 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 the majority of these properties. After the dormancy period has passed, the holder is required to pass the missing money along to the state, which then holds it until the rightful owner is able to locate it.
The reasons that it is difficult to reunite unclaimed property with the rightful owners are numerous, but they generally all come down to a lack of knowledge about where and when to search. While many web sites may claim to be "official" or say they have a complete database, very few actually provide legit records, and even the official state listings are quite unreliable. Once a claim is handed over to the state, an employee at the state has to manually enter the record in to the missing money database, but this isn't done right away, so it's good practice to check back regularly. On top of that, due to all of the differing dormancy period lengths, a person could perform a search one day and then give up if they found no claims, when if they had just searched again the following year they might have discovered a large claim that simply had a lengthier dormancy period.
When tracking down unclaimed assets, there's more to it than just typing a name in to the search tool of any old web site. Issues that hinder rookie searchers are easy to circumvent, but the majority try to go out on their own and are not able to find money that belongs to them, which is why the totals get bigger continually all across the country. Spending a little time learning professional search techniques can greatly increase the odds of filling our pockets with money we had forgotten about.
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Ohio getting more
COLUMBUS (AP) — Officials say a state agency celebrating its 30th anniversary has reunited Ohioans with about $830 million they didn't realize was out there. The Division of
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