Uunclaimed Property

Some of you may not realize that every state (as far as I know) has an inventory of unclaimed property in the form of money.

Yesterday I just went to the Pennsylvania and Texas state websites and found what may be money those states are holding in trust for some of my relatives. I told them about it and they are going to file claims.

What happens is that after some period of time, a company, a government, or an organization which owes someone money (like a utility deposit, excess taxes or fees, even a checking or savings account) turns it over to your state which keeps it until you or an heir claims it. So, give your state's website a look. You could get a windfall.

Last year I got money from NY state for a house sale closing from 2007. I don't remember the amount - a few hundred. It was probably the result of escrow payments owed to me after the closing.

Another time I had some money to claim, but it was less than $50 from my father's estate. It wasn't worth processing so I left it for the state to do something good (yeah, right)

Cool. There could be a small bonanza out there for some Board members.

I got about $175 a few years ago from the unclaimed property site. It was for part of an expense allowance that I hadn't received in the 1990s.

I've found a few things over the years but mostly they've been for siblings. Usually a few hundred here or there in old bank accounts or stocks.