What is Unclaimed Money?
Unclaimed money is cash that has not been delivered to the owner. In most cases, the failure to deliver the money is due to inaccurate contact information for the owner of the account where the money resides. After a period of time, banks, insurance companies and other financial institutions turn all unclaimed money over to government agencies. These agencies in turn retain the funds under the name of the owner for a period of time. If the money is never claimed, the cash eventually is cleared for use by the government. In the United States, unclaimed money is usually routed to a state level Unclaimed Property department or division. The state level entity maintains a database of all unclaimed money and other properties found in safe deposit boxes, apparently abandoned bank accounts, and other funds that remain unclaimed for some reason. Each of these state Unclaimed Property entities maintain unclaimed money databases and provide some type of public access. In order to look for missin
Generally, unclaimed moneys are classified into the following categories: • All sums of money which are legally payable to the owner and have remained unpaid for a period of not less than one (1) year after they have become payable. Examples include: • Salaries, wages, bonuses, commissions and other payments due to employees; • Dividends and profits declared for distribution; • Insurance claims which have been approved for payment; • Bank drafts, cashier’s orders and other documents of similar nature whose validity period have lapsed; • Fixed deposits (without automatic renewal instructions) which have matured; • Tender deposits for which the intended purposes have been fulfilled; • All sums of money to the credit of an account [3] that has not been operated in whatever manner by the owner for a period of not less than seven (7) years. Examples include: • Savings accounts • Current accounts • Fixed deposits (with automatic renewal instructions) [2]; • All sums of money to the credit of
Unclaimed money arises when the RTA has issued a bond refund cheque for a rental property in Queensland, and the payee has not presented that cheque for payment. Money remains unclaimed usually as the result of people or businesses either forgetting to cash their bond refund cheques or moving premises without notifying the RTA of their new address. If a cheque is issued by the RTA and remains unpresented for more than 15 months, it is then added to the RTA’s unclaimed money list. To see if the RTA is holding any money on your behalf, simply enter a full or partial name in the search box below. Please try to be as specific as possible when entering a name as many matches may be returned. The unclaimed money search data was last updated on 1 April 2009.
The Department of Finance (DOF), as one of many responsibilities, works to return unclaimed money to the rightful owners. The unclaimed money may be the result of a check being returned to the county as undeliverable or a check that has not been cashed after a certain period. Free Service from Fairfax County Government This is a free service – there is never a fee for claiming your property. One out of eight people nationally have unclaimed property somewhere. Why not check to see if Fairfax County has unclaimed money that belongs to you? What Attempts Are Made To Find The Rightful Owners? The DOF is required to exercise “due diligence” in attempting to locate the rightful owner of property. Substantial efforts are made by DOF, which extend far beyond the basic requirements of the legislation. First, the DOF mails a first-class letter to the owner’s last known address informing them of the dormant status of the property. If DOF is unsuccessful in finding the rightful owner, a report, a
