Wetware Solutions
free expert computer tips for everyday users

Every now and then, the different news broadcasts and print agencies resurrect information regarding people finding unclaimed assets, money from forgotten bank accounts, utility deposits that were never reclaimed after someone relocated, or even tax refunds. There are a number of reasons why someone might forget about claiming these funds, but very little reason to have to fork over money in order to reclaim it.

Many “for-pay” services a/k/a “finders” have surfaced claiming they can assist people in finding their unclaimed property. Some of these are just cons, so do your research on these “finders” before you actually hire one. While it’s generally true that the legit ones can help you find your property, however, it’s also true they will charge you a percentage to do what you may be able to do yourself for free.

The first thing you want to do is find out whether any State you have lived in is actually holding funds for you. This is a simple search. First, visit the National Association of Unclaimed Property Administrators (NAUPA) and go to the “Owners” link in the middle of the page. Then, click on the “Find Property” link along the left side. (This web site uses frames, so I can’t provide direct links to those pages without taking you out of their navigation set up.) The “Find Property” link will take you to a site map and pull down menu. Find each State where you have lived and may have unclaimed property. You will then be sent to that State’s web site for reclaiming unclaimed property.

These web sites are generally established and run by each State’s treasury department. Each maintains a list of owners of unclaimed property. If you are not listed, that State does not have property it is holding for you. (Again, you should do this for every State you have lived in.) Each State has it’s own criteria for reclaiming property. For the most part, it consists of your having to complete an application or other paperwork and verifying your identity with a valid driver’s license or State photo ID.

Do you really need to pay someone to do that for you? You still have to provide the information needed to complete the State’s paperwork. You still need to prove your identity.

The different State web sites will generally also have links to valuable information about unclaimed property and using paid services to reclaim it. If you find little information on that issue at the State web site, you can return to the NAUPA web site. It contains valuable general information on locating and reclaiming your property. You will find there information regarding paid “finders”. After clicking the “Owners” link from the main NAUPA page, go to the “About Finders” link instead of the “Find Property” link listed along the left-hand menu. The short version of the information you will find there is this:

You might as well first try contacting the State holding your unclaimed property. Most states have divisions that can adequately assist owners in reclaiming their property. In most instances, you can easily meet that State’s criteria and reclaim your property without having to hire a “finder” and forking over 10-15% of your reclaimed property.

NAUPA is a non-profit organization affiliated with the National Association of State Treasurers. Neither the State agency nor NAUPA has a commercial interest in your unclaimed property. However, if you feel you need extra guidance and feel it would be prudent to hire a finder, be sure to get as much information as you can regarding the finder. Some States, like Oregon, require that their finders be licensed, which is excellent. If your State requires licensing, it will also maintain a public database to confirm that your finder is in fact validly licensed. Try running a Google search for that.

For example, I ran the search “licensing for unclaimed property finder” and learned about Oregon’s licensing requirements. I also learned that in Idaho no one can charge a fee for “finding” your unclaimed property unless it has been in the State’s possession for at least 2 years.

If you decide to hire a finder and your State has few regulations for that service, at a minimum try using someone who is well-established and possibly incorporated. Each State maintains public records on corporations where you can verify the owners and longevity of the company before you even consider doing business with them.

Any time you are forced to relocate suddenly, you will absolutely want to check your former State’s web site for unclaimed property. Many 2005 hurricane victims found small fortunes by doing so. Even if you haven’t moved out of the State, any relocation can detach you from your property, as certainly happened during the last hurricane season.

Here are the State web sites for unclaimed property for Mississippi, Louisiana, and Florida. (It’s unfortunate that the Florida link for unclaimed property, http://www.fltreasurehunt.org/, looks so commercial, but it is a “.org” site and part of the Department of Financial Services. Treasure hunting is, after all, a time-honored Florida tradition, though it’s usually done under several fathoms of seawater, not on the Internet. (Truth be told: I think there’s more treasure to be found on the Internet.)

Good luck in your hunt, me hearties.