States are holding more than $10 billion in unclaimed money for citizens. Meanwhile, the federal government estimates that it holds more than $22 billion in unclaimed assets as well. Where does this money come from? Conducting a search for unclaimed cash makes "cents" - and perhaps dollars - for anyone with a few minutes, an Internet connection, and the knowledge to conduct a free unclaimed money search.
In this article learn about unclaimed assets, inheritance, and accounts as well as free searches for unclaimed stocks, cash, and property. There is never a need to pay for this service. While it is legal for people to offer the business service of conducting an unclaimed money search for a fee, the tools are all there, completely free, for anyone to perform their own free unclaimed money search.
Free Unclaimed Money Search
The largest free database for finding lost funds is Missing Money. Missing Money is run by the National Association of Unclaimed Property Administrators and includes the following states:
Alabama, Alaska, Arizona, Colorado, District of Columbia, Florida, Idaho, Iowa, Kansas, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nebraska, Nevada, New Hampshire, New Jersey, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Puerto Rico, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin
and the Canadian province of Alberta. Missing Money is easy to use. Enter first name, last name, and the state being searched. The database then gives a list of all records similar. For instance, if the last name is Zoltan, first name Melanie, and state is Puerto Rico, then all listings with the name Zoltan in Puerto Rico will be given. Unless the match is direct, users are left to wonder if that "over $100" account is theirs. For instance, a listing for Zoltan, M. might be a hit - or it might be someone else.
Missing Money is not the only free unclaimed money search option, though. Another site affiliated with the National Association of Unclaimed Property Administrators is Unclaimed.org. Unclaimed.org, like Missing Money, is a free unclaimed asset tool. Use both for greatest success.
Unclaimed Assets, Inheritance and Accounts
How to people "lose" money in the first place? Many unclaimed assets are:
- Small mutual fund that were closed but contained a few dollars (or more).
- Utility account deposits that were forgotten after the account holder moved.
- Last paychecks never claimed when an employee left a job.
- Extra interest paid on a car loan at the end that wasn't credited quickly.
- Lost stocks in brokerage accounts.
- Inheritance money that was missed by a probate judge or estate lawyer from a stock or bond the deceased held.
Regardless of the unclaimed inheritance or unclaimed asset's origin, the money is real. States and the federal government are required by law to return the unclaimed funds.
Unclaimed Stocks, Cash, and Property
In addition, unclaimed stocks and unclaimed property fill the rolls of state treasuries and property lists throughout the United States. Unclaimed cash, too, is out there. Use Missing Money and Unclaimed.org to look for these three unclaimed items. In the case of stocks, paper certificates used to be issued, and if lost decades ago, the original owner's heirs may not know these stocks exist. Unclaimed property can include items in a storage facility, stolen items that were reported to the police and found, and other forms of real property.
Next Step in Finding Unclaimed Funds
After performing searches at these sites, follow the site's directions (each is slightly different, depending on the state) for claiming unclaimed funds. Most states require searchers to download a form and complete the document, sending in identification or notarized letters to guarantee identity. Neither Missing Money nor Unclaimed.org is exhaustive, so there may be other free unclaimed money search sites worth searching.
Be sure to look into every possible database to search out unclaimed money, including those advertised on television, radio, in newspapers and online. Every database is slightly different and may contain lost assets not found in others. States receive lost money at various times from companies, so it can take years for unclaimed stocks, cash, property, old paychecks, and more to make their way into different databases - so be as thorough as possible in looking at every single search site.
Related Articles
For more information about finding hidden cash from unexpected places, read:
Free Unclaimed Inheritance Search - for those who need specifics on how to claim lost money as an heir, learn more.
Cash Out UPromise Without a 529 Plan - learn how to request a check, without penalty, and without needing a 529 plan from this popular program.
Unclaimed Property in California - ever lived in California? Have relatives who used to live there? Learn the specific process for finding unclaimed money in the most populated state in the U.S.
Melanie Zoltan - Melanie Zoltan is a former college professor and administrator who has written for About.com, PCWorld, Brain Child, Thomson Gale, and ...
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