California
Good news for Californians! Over $400 million are ordered by a judge to be paid
to the owners of
unclaimed money which was in the hands of the California
Treasury Department. According to a news report
in San Francisco Chronicle, ?The ruling is the second major blow to the state
this year over how it has handled more than $5 billion in the unclaimed property
account - enough money to cover the cost of the California's 109-campus
community college system.?
The U.S. Government is holding-on to an estimated amount in the neighborhood of
$40 billion in unclaimed assets.
Imagine how much interest that generates per year! Yup, hundreds of millions. In
the Golden State alone, there is around $5 billion in unclaimed money and there
were reportedly instances where the state failed to include the interest on
successfully returned assets. This adds to the negative rulings plaguing the
unclaimed property division of the state's Treasury
Department. A federal court earlier this year
found that the state failed to notify some owners of lost assets properly before
seizing them. This resulted in a federal court ordering a cease in the seizure
of
unclaimed property by the state
until new laws were passed ensuring proper attempts to notify the owners of
such. The ban was lifted just recently.
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Online database of Idaho's unclaimed property. more…
www.state.in.us/serv/ag_ucp - Similar pages more…
January 30th, 2008
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Arizona
If you're living in Arizona or at some time in your life lived and worked there
before, there is a great chance you are entitled to the $400 million in
unclaimed property the state Treasury Department
is holding. Even if you haven't been there before, an Arizona-based company may
have turned-over to the
government lost funds
belonging to you. Depending on the type of property, there is a dormancy period
of usually 3 years for lost assets to be claimed before they are by law handed
over to the government.
Lost
financial assets include securities, cash or
property like bank accounts, credits, and payroll checks. Contents of safety
deposit boxes are can also considered unclaimed property if their owners can't
be contacted after the dormancy period. The
Arizona
Treasury Department sells contents of safety deposit boxes
in annual auctions if their owners don't claim them after 3 years. The proceeds
are then held by the state as unclaimed money. A $100,000 trust fund from the
unclaimed money is maintained by the State of Arizona
and the excess is transferred to the state's General Fund.
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Wisconsin Unclaimed Property
Maine's Unclaimed Property helps people claim or report lost or abandoned property.
January 22nd, 2008
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Arizona
If you're living in Arizona or at some time in your life lived and worked there
before, there is a great chance you are entitled to the $400 million in
unclaimed property the state Treasury Department
is holding. Even if you haven't been there before, an Arizona-based company may
have turned-over to the
government lost funds
belonging to you. Depending on the type of property, there is a dormancy period
of usually 3 years for lost assets to be claimed before they are by law handed
over to the government.
Lost
financial assets include securities, cash or
property like bank accounts, credits, and payroll checks. Contents of safety
deposit boxes are can also considered unclaimed property if their owners can't
be contacted after the dormancy period. The
Arizona
Treasury Department sells contents of safety deposit boxes
in annual auctions if their owners don't claim them after 3 years. The proceeds
are then held by the state as unclaimed money. A $100,000 trust fund from the
unclaimed money is maintained by the State of Arizona
and the excess is transferred to the state's General Fund.
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Idaho State Tax Commission - Unclaimed Property
All states in the U.S. have similar laws that govern the reporting and claiming of unclaimed property. For more information, read about the Uniform …
January 15th, 2008
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The
government in Alabama right now has $373 million in
unclaimed money and some of that might belong to
you! That's right. Unclaimed money and property come can come from different
sources- forgotten bank accounts, uncashed checks, unused gift certificates and
such. After a certain period of time, these lost assets are are required by law
to be turned-over to government until their rightful owners come to claim them.
In 2007, a record $23 million was returned by the
Alabama unclaimed money office.
The large amount of unclaimed funds returned can be credited to the state's
programs which try to increase public awareness about the
unclaimed property. Lists of people's
names are posted in public and special booths are set-up in areas like state
fairs and shopping malls which provide free search aid to possible owners of
unclaimed property.
According to experts,
70% of Americans are owed unclaimed property
by the U.S. Government and there is nearly $40 in unclaimed property.
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Nebraska State Treasurer Shane Osborn - Unclaimed Property
PLEASE NOTE: Due to a recent story about unclaimed property programs on NBC's Dateline, we are experiencing an unprecedented number of inquiries and our …
January 11th, 2008
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Here's good news if you're living or at one time or another have lived or worked
in Arkansas. State auditor Jim Wood is looking for over 200,000 Arkansans who
are owed money in the form of unclaimed property. According to Wood, ?Ten
percent of the people in
Arkansas have unclaimed property here
and all they have to do is come forward to claim it" .
Unclaimed property comes from unreturnable checks due to change of addresses or
names,
forgotten bank accounts, unredeemed refunds and gift certificates
and the like. After a dormancy period which varies per state, escheat laws
require the companies with these lost assets to turn them over to the Treasury
Department of each state.
Even if you haven't been to Arkansas, the unclaimed department of the government
in that state may have money for you. Companies based there might have
turned-over your lost funds after unsuccessfully locating you after some years.
The
U.S. Government right now has nearly $40 billion in unclaimed property
and experts say it belongs to 7 out of 10 Americans.
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… the holder company reports unclaimed property to their state of incorporation. … How to Keep Property From Becoming Unclaimed … more…
January 7th, 2008
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The
government in Alabama right now has $373 million in
unclaimed money and some of that might belong to
you! That's right. Unclaimed money and property come can come from different
sources- forgotten bank accounts, uncashed checks, unused gift certificates and
such. After a certain period of time, these lost assets are are required by law
to be turned-over to government until their rightful owners come to claim them.
In 2007, a record $23 million was returned by the
Alabama unclaimed money office.
The large amount of unclaimed funds returned can be credited to the state's
programs which try to increase public awareness about the
unclaimed property. Lists of people's
names are posted in public and special booths are set-up in areas like state
fairs and shopping malls which provide free search aid to possible owners of
unclaimed property.
According to experts,
70% of Americans are owed unclaimed property
by the U.S. Government and there is nearly $40 in unclaimed property.
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www.state.in.us/serv/ag_ucp - Similar pages more…
Filing instructions, forms, searchable database of unclaimed property and laws and regulations. more…
January 4th, 2008
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