Unclaimed Property

Unclaimed property refers to funds or valuables—such as bank accounts, payroll, insurance benefits, or safe deposit box contents—that have been abandoned or forgotten by their owners after a certain period of inactivity. Governments often hold these assets temporarily to protect the property until the owner or rightful claimants come forward. Unclaimed property laws require businesses and organizations to report and surrender these assets to the state after a specified time. The goal is to reunite owners with their property or ensure it persists securely until claimed, serving both consumer rights and responsible stewardship.