Your state may be holding money of yours you can easily claim. Sarah Tew/CNET

1 in 10 Americans Has ‘Missing Money’ to Claim From Their State. Here’s How to Get It

This story is part of Try This, ‘s collection of simple tips to improve your life fast.

Last year, a friend told me that he discovered his estate had $200 in unclaimed property for him. Hoping to have money or property of my own, I immediately checked to see if my condition held anything for me. I do not have ‘ 1 1 Les États conservent 49 milliards de dollars de biens non réclamés et seuls 3 milliards de dollars sont réclamés chaque année.

Unclaimed property is in short supply, with states owning it for 1 in 10 Americans, according to the National Association of Unclaimed Property Managers. My state alone, California, has $11.2 billion, waiting for someone to claim.

It’s easy to find out if a state owns any of your unclaimed property. You can quickly search for free and then begin the process of making a claim for your money.

Read on to find out if you have unclaimed property and how to get rid of it. For more information, here’s how to start a fire with Doritos and how to stop getting spammed.

How can I search for unclaimed property in my state?

You can find out if a state has properties for you by using a NAUPA search tool. Their map of the United States provides links to each state’s website for unclaimed property. It also includes links to property search tools for Washington, DC, Puerto Rico, the US Virgin Islands, and some Canadian provinces. Be sure to check every state, territory, or district you’ve lived in to see if you have anything to claim.

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In most cases, you will be redirected to a page where you can directly search for unclaimed property; in others, you may have to click from a home page to the unclaimed property search page.

Generally, you will only need to provide your last name to search for a property, although adding your name, location, or address will help narrow down your search.

Two other free services, MissingMoney.com and FindMyMoney, offer built-in searches on their websites, but not for all states. MissingMoney.com lets you search 41 states, the District of Columbia, Puerto Rico, and Alberta, Canada, while FindMyMoney provides its own search tool for 28 states and Washington, DC. FindMyMoney is linked to state search engines for the other 23 states.

Some states, like Ohio, work with MissingMoney.com to allow people to search for properties and file claims. Once the claim is submitted on MissingMoney.com, the State is responsible for the communication, verification and eventual payment of the claim.

How do I claim property from a state after I find it?

There is no federal system to claim your property. Procedures vary from state to state. And you don’t have to live in your current state to claim your property, so check other places you’ve lived.

Most states use a system similar to online shopping services. In this system, you add the property you want to claim and then “verify ” providing information such as your current address and social security number to verify and prove your identity. ‘ is the rightful owner of the property.

After you submit your application, we may contact you by email to obtain additional information the state may need to process your application. Some states may provide tests online, others require them to be mailed. Your state may keep a small amount ($1 for assets over $10 in Kentucky) as a withholding fee.

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Most states do not have a deadline to claim a property, but in some states it can be auctioned after a certain time. If so, you generally have a right to claim its value from the state.

How long will it take to get my fortune?

As with the claims process, the time it takes to receive your property will vary from state to state. The California State Comptroller says that simple claims involving money can be resolved in 30 to 60 days. More complex claims involving multiple heirs or businesses can take up to 180 days.

The New York Comptroller’s website says online claims for individuals are generally paid within two weeks. Deceased claims will take four to six weeks and mail-in claims will take three to four months to process.

Why would a state keep my property anyway?

After a “period of inactivity” (usually one to three years), businesses will send money and property to state unclaimed property offices when they can ‘s locate owner. The State will then keep these objects until their owner reclaims them.

Wealth can be the content of checking or savings accounts, stocks, annuities, life insurance policies, or safe deposit boxes, among many possible items. In 2021, California had 57 million unclaimed properties, worth $10.1 billion.

Article Source : https://www.cnet.com/personal-finance/1-in-10-americans-has-missing-money-to-claim-from-their-state-heres-how-to-get-it/

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