(Part 2 of 2)

Once people become aware of unclaimed property, and even once they know that they may be owed money from a number of states, they tend to do one quick search and assume that whatever the search results say is the end of the story. Sadly, not all unclaimed property sites are the same, and there is not one search that checks the records of all states. Even when you break it down to the state level, the records are often not very reliable because they aren't updated in real time.

Each state has its own unique laws spelling out when unclaimed properties must be turned over to the department that deals with these kinds of assets in that state. And each type of property (lost or forgotten uncashed checks, dormant bank accounts, dividends & bond interest, safe deposit box contents, stock or bonds, utility refunds, insurance proceeds, etc.) has its own individual dormancy period, which is the time that must pass before the monies are deemed "unclaimed". For this reason, different money is handed over to each state quite often, but the states only update their records whenever they find the employees and time to do so. For these reasons, anyone truly interested in finding all possible money claims must search often, and learn where to perform a search where not to perform a search.

These issues, among others, can seem overwhelming to a frustrated beginner in unclaimed asset searching, but searchers can now use guides written by professionals in the field to jump the hurdles that usually plague rookies. For those who think they can handle their cash better than their state treasury dept., you owe it to yourselves to learn all about the best ways to search and then get going ASAP.

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