January 11, 2012
Find Unclaimed Assets in WA – Part 1 of 2
(Part 1 of 2)
The state of WA has spawned some of the world wide web's biggest names. Even Bill Gates, the United States' wealthiest man, made his home in Medina, WA Microsoft, his company, is based out of Redmond. Amazon.com, Classmates.com, Whitepages.com and Marchex also make WA their home. The fact then that more than one and a half million residents are owed an excess of 700 million dollars in unclaimed money in WA State is ironic, considering that looking for unclaimed property and money can be done online from the comfort of their bedroom or even the local Starbucks.
According to the WA State Dept. Of Revenue web site, typical unclaimed money includes abandoned mutual funds, uncashed payroll, utility and phone company deposits, traveler's checks, insurance, insurance proceeds, bank accounts, bonds, stocks, safe deposit box contents, and other financial assets. Unclaimed money doesn't include most tangible assets such as vehicles and real estate. State Law requires insurance companies, banks, credit unions, government entities, retailers, corporations, and utilities to turn WA unclaimed property and money over to the state if the rightful owners can't be located after 3-5 years (depending on the type of property). The State's Unclaimed Funds Law states: "State law protects unclaimed property until it can be returned. There is no time limit for filing a claim and rightful owners or their heirs can claim property reported since 1955. The state may auction the content of safe deposit boxes, however, if not claimed within five years."
(to be continued)
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Powerball jackpot goes
Players have 180 days to claim their prize. The
Ohio Division of Unclaimed Funds working harder to return money to owners
Ohio’s Division of Unclaimed Funds has returned $828 million to 838,000 claimants in its 30-year history, officials announced this morning.
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