With more than $32 billion in unclaimed money sitting in state and federal treasuries, it's no wonder that finding these missing funds has become a popular activity - and business opportunity - for many people. Whether you're working as a "claim money specialist" searching for lost assets, company shares, unclaimed property and more for clients, or just an individual looking for your own missing stocks from an old account or an unclaimed inheritance, searching for untracked funds, lost stocks in particular, is a bit like going on an Internet treasure hunt. And the reward is a piece of the $32 billion pie.
Lost Stocks, Missing Assets and Money Search
Finding lost stocks involves many of the same processes as finding any missing money, including:
- stocks
- bonds
- paychecks
- utility deposits
- overpaid loans
- overpaid insurance premiums
and more. But finding stocks also involves an added challenge, because until recently, certificates of stock - actual pieces of paper - were issued when a share was purchased. Sometimes those paper certificates of stock are the only proof of ownership. Finding stocks, then, is a multi-phase process.
Find Stocks and Claim Money
To claim money from lost stocks, first do what any heir or owner looking for unclaimed money should do: start with Missing Money. This website is a clearinghouse of state and federal government treasuries. When the owner of a company shares cannot be located, the funds must be turned over to the state for safekeeping. These missing assets come under the control of the state, and the state works to connect owners with these assets. In some states, the funds have a time limit, and then revert to state ownership - so time is of the essence in looking for lost share certificates or old brokerage accounts.
If a search of Missing Money yields nothing, try Unclaimed. Unclaimed is a sister site to Missing Money. If neither site has any lost stocks under your name or the name of family members, move on to the next step.
Find Lost Assets and Funds
In many cases, finding unclaimed stocks can be as simple as remembering that you, or a relative, owned a specific stock, and contacting that company to ask about the lost stocks. You need to know the shareholder name, the approximate number of shares, and the approximate time frame of purchase (year or month and year). For any individual company, go to their website to the "Contact Us" section and follow the customer service prompts to ask about unclaimed stocks.
If a search of state and federal treasuries can't find lost shares, and you can't remember the exact details of older share purchases or old stocks held by a relative, then don't despair - the search isn't over yet. Look for information on unclaimed property, missing assets and more through print and online promotions, financial news, and government treasury announcements.
While you should not have to pay money for a property searches, finding stock is a slightly different, more complex matter, and consumers should be aware that it's not as simple as searching for other forms of lost assets. Thousands of people do find stocks that went missing each year, however, so research and diligence are key to finding lost stocks.
To learn more about finding missing money and lost assets, please read the following articles:
Free Unclaimed Inheritance Search - Lost Assets - Could you be a missing heir? If a family member died and left unclaimed money, it could be yours. Learn how to find unclaimed inheritance funds here.
Free Unclaimed Money Search - I've found money from an overpaid car loan for me, a mutual fund dividend for a family member, and an unclaimed bank account from an inheritance for a friend. What could you find to claim money? Read on.
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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