Your Questions Answered
We’ve compiled a list of the most common questions to help you understand the process of claiming your missing money.
What is unclaimed money?
Unclaimed money refers to funds that have been left inactive or forgotten by their rightful owners. This can include bank accounts, insurance payouts, and other financial assets. Unclaimed property consists of accounts and other financial assets that have been inactive for a certain period of time.
Types of unclaimed property include: checking and savings accounts, uncashed payroll checks, uncashed stock dividends, insurance payments, inactive stock brokerage accounts, utility deposits, refund checks, money orders, traveler’s checks, mineral proceeds, and life insurance proceeds.
Each state and U.S. jurisdiction has an unclaimed property law that governs the length of time before a specific type of asset must be turned over to the state for safekeeping. Companies or Holders of potential unclaimed property are required by state laws to re-establish contact with the owner of the property.
If attempts to contact the owner are unsuccessful, the property is transferred to the custody of the state for safekeeping and eventual return to the rightful owner. LostFoundEstates facilitates the return of unclaimed money to the rightful owner by providing a multi-state platform to search for and claim forgotten funds.
How do I know if I have unclaimed money?
You can search for unclaimed money by using our online database. Simply enter your details, and we’ll help you find any assets that may belong to you.
What information do I need to claim my money?
To claim your money, you will need to provide proof of identity and any relevant documentation that proves your ownership of the funds.
Does it cost money to claim my property from LostFoundEstates
Yes. We have state capped reasonable fees at 10% maximum for individual claims and 15% for Estate Claims. Searching for and filing a claim through LostFoundEstates will cost you money. Remember, we have reached out to you and are the ones to expedite filing the claims and getting your property back to you.
What happens if I find property in different states?
You may claim all property that you believe belongs to you, even if it is held by a state where you don’t live. When you submit a claim through MissingMoney.com, details about the claim are securely transferred to the state(s) holding the property you are claiming. If your claim is accepted, you will receive an individual claim form with specific instructions from each state. MissingMoney.com provides links to the unclaimed property website of each state and jurisdiction to help facilitate additional searching and claiming of property. Please visit our States page for direct links.
I’ve submitted my claim, now what?
After clicking the ‘Submit’ button, you will receive an email or letter from each state. The email/letter may include a claim form with further instructions for gathering and submitting evidence to substantiate your claim. Many states have options for electronically submitting documentation via their website for faster processing of your claim. Since evidence required to complete a claim will vary by state, carefully read and follow the instructions. For other questions related to your claim, please directly contact the state where your claim was filed.
Do I have to give my Social Security Number?
It depends. Entering your Social Security Number is required depending on the state in which you are claiming property. Most states will require you to supply your SSN prior to paying your claim. Providing your SSN at the time you file your claim may also entitle you to be eligible for fast-track claim processes offered by some states. LostFoundEstates protects your personal information by using leading industry standard encryption, and once the information is submitted to each state, it is permanently removed from the LostFoundEstates site.
I submitted my claim but didn’t receive an email, what should I do now?
Check your junk and spam folders. The email will come directly from the state(s) where the property is being held. If you have checked all your folders and still do not see the email, please contact the appropriate states and they will resend your claim form to you.
Why do I have to choose a relationship to my property?
Choosing a relationship to each property helps the states determine the evidence required to prove you are the rightful owner of that property. For example, if you are claiming property for which you are an “heir”, there will be additional evidence required to ensure you are the correct “heir” to the property.
How is LostFoundEstates protecting the information I enter into the site?
LostFoundEstates.com, will not distribute, share, sell, or lease your information to third parties. The information collected at this site will remain confidential to the extent permitted by state or federal law. The site is secured by SSL Certificates issued by Google Trust Services and Amazon Web Services. All your details will remain confidential, accessible only by Unclaimed Property Officials, and for claims processing purposes only.
I’m not sure the property is mine. What should I do?
If there is information related to the property that you believe ties you to the property, such as if you have conducted business with the company listed on the property or lived at the address provided, it might be yours and you should file a claim. If you are not sure, you can still file a claim and the state will review the details then request additional evidence from you, if necessary, to confirm that the property is rightfully yours before paying any claim.
Why are some of the grids blank in the search results?
The information available to the public and the results shown in the search grid are dictated by each state. Please visit each state’s individual website for additional information or to perform additional searches.
How often is the website updated?
LostFoundEstates.com is updated daily with new properties eligible to be claimed.
What is the status of my claim?
Why does the state of California have financial assets in my name?
Financial institutions and other businesses are required by law to report each year and deliver “property” to the controller’s office if there hasn’t been activity on someone’s account or contact with its owner for a period of time, which is generally about three years.
Sometimes the account’s owner moves and forgets to leave a forwarding address for a company to send them a check for what they’re owed. Other times the person dies.
What kind of property goes unclaimed?
These are the most common types of unclaimed property, according to the state.
- Bank accounts and safe deposit box contents
- Stocks, mutual funds, bonds, and dividends
- Uncashed cashier’s checks and money orders
- Certificates of deposit
- Matured or terminated insurance policies
- Estates
- Mineral interests and royalty payments
- Trust funds and escrow accounts
- Utility account deposits
The unclaimed property program does not deal with real estate.
How much lost money are we talking about?
About 70.4 million properties are worth about $11.9 billion, according to the controller’s office.
Where can you search for your unclaimed property?
Click here to visit Claimit.ca.gov. The state offers an easy-to-look-up method if you have a property to claim. The state is now also on MissingMoney.com.
What happens before these assets are given to the state?
Companies are first required to try to contact the owners before transferring the assets to the controller’s office. The controller’s office then sends its own notices to property owners, allowing more time for the owner to try to get their property back. Here’s an example of what such letters look like. For the previous fiscal year, the controller mailed out 1.5 million notification letters to owners of property valued at $50 or more.
How do I claim unclaimed property? Can I make a claim for a relative who died?
Owners can search and claim their property for free but will need to verify their ownership. People can call 800-992-4647 with questions. People can also call the same number if they think the state has their property but they can’t see it listed on the website.
Heirs, trustees and other executors can also file claims for owners who have died.
Some companies and people charge a fee to search for unclaimed property and file claims on behalf of owners or heirs. These “investigators,” as they are officially called, by law can’t charge a fee greater than 10% of the value of the property that is returned.
“Simply apply,” Cohen said. “The process to receive the money is very easy. Once you apply, you put in your personal identifying information then the staff will reach out and further vet and verify everything. Then a staff person in the controller’s office will facilitate that.”
Take the First Step to Reclaim Your Money
Don’t let your hard-earned money go unclaimed. Click the button below to start the process of recovering your lost assets with lost found estates.