You Could Have Unclaimed Cash, Here’s How To Check
Nearly 33 million people in the United States have unclaimed property. The Michigan Department of Treasury has millions of dollars in lost or forgotten assets. Some assets include money left in bank accounts, uncashed checks, valuables left in safe deposit boxes, and stock certificates.
In 2021, Terry Stanton, the manager of Treasury’s Unclaimed Property Program said that they returned over $133 million in unclaimed property. “Filing a claim is easy and free. You never know what could be out there until you check,” said Stanton.
The unclaimed properties are turned over to Michigan and returned to their owners or the owner’s heirs when rightfully claimed. When looking into unclaimed property people can complete a free search for their name, a maiden name, or the name of a business or non-profit.
According to the Michigan Department of Treasury, there is no time limit for filing a claim. However, items held for at least two years like jewelry, coins, stamps, and other items are sold at a state auction. The proceeds from the auction are then held for the rightful owner or their heirs to claim.
Find out if you have cash or property by going directly to Michigan’s Unclaimed Property website here, which provides search options and the ability to upload verifying documentation easily.
Businesses, corporations, nonprofits, public entities, and other organizations holding unclaimed or abandoned property can find instructions on how to prepare and submit reports and remittances on Michigan’s Unclaimed Property website.
If you haven’t always lived in Michigan, you can find out if you have unclaimed property in another state by visiting the national unclaimed property website Unclaimed.org.
