According to NAUPA, in FY 2011, 2.5 million claims totaling2.25 billion of UP were returned to rightful owners.
· There is approximately41 billion being held by various states.
· Approximately one in every 10 people in the United States has UP.
· In December 2011, a Kansas City woman received a 6.1 million check for UP. The funds related to stock purchased long ago by one of her ancestors.
These links may help you find search for property in your name:
- Unclaimed Government Funds- Currently over $30 BILLION is held in federal & state accounts. That means 7 of every 10 Americans have money owed to them that is being held by the government. In other words, it's very likely you have Unclaimed Money waiting for you! (sponsored listing)
- Missing Money Site (NAUPA) - is the foremost authority on unclaimed property and the affirmed leader of the coalition of states, administrators, and holders working together to reunite rightful owners with their property. The purpose of the association is to promote and strengthen unclaimed property administration and interstate cooperation in order to enhance States' return of unclaimed property to rightful owners and provide a forum for the open exchange of information and ideas.
- Resource for Rent Assistance- Click here for assistance with credit repair for renters, home loans, renters insurance, cable and internet deals, and so much more! (sponsored listing)
- FDIC unclaimed Funds - provides deposit insurance to financial institutions and depositors of these institutions. If a financial institution is closed, by a regulatory agency, the FDIC is appointed as Receiver and is responsible for the payment of insured deposits and the liquidation of the remaining assets. If you did not claim your funds previously you now have another opportunity to do so.
- Treasury Hunt (Treasury Direct) - tells you about savings bonds no longer earning interest. If you still have these savings bonds, cash or reinvest them so your money can start working for you again.
More about Unclaimed Property: What is UP?
UP is generally defined as property that is held by a business but legally belongs to another person or business. Typical types of UP include:
· Uncashed dividends
· Unclaimed security deposits
· Life insurance proceeds
· Uncashed vendor payments
· Uncashed payroll checks
· Misc. outstanding checks
· Safe deposit boxes
· Unredeemed gift certificates
· Dormant checking/savings accounts
Generally, property becomes classified as UP when the rightful owner takes no action to claim the property for a certain period of time -- this time period is typically referred to as the "dormancy period." Once the dormancy period has elapsed, the property becomes classified as UP and can become escheatable (i.e. the requirement to remit UP to a state). Consider the following examples:
· An employee is unaware she is entitled to a final paycheck and moves out of town before receiving the check. The company has no forwarding address and is unable to locate the former employee. The uncashed payroll check legally belongs to the employee, but is held by the employer.
· A person purchases a100 gift certificate from Company X. After three years, the gift certificate has still not been redeemed. The100 still legally belongs to the purchaser (in most states), not Company X.