What is Unclaimed Money?
Have you ever changed banks, forgotten to pick up a paycheck or changed your name because of marriage or divorce? Has a bank or agency ever misspelled your name or gotten your account number wrong? These are just a few reasons why there might be unclaimed (also called escheat) money waiting for you.

The National Association of Unclaimed Property Administrators (NAUPA) estimates that states are holding more than $10 billion in unclaimed property that belongs to approximately 26 million Americans.

Federal or state agencies hold onto these funds or stocks until the owners claim them. By law, money is considered "unclaimed" when there is no contact with the institution or account activity for three to five years.

There is no time limit to claiming your property or money. There have been people who claimed money up to 30 to 50 years after it was turned over to the state. By law businesses must turn unclaimed money over to the government after a certain period of time. The government is then supposed to try to return the money to the proper owner. However, many times this doesn't happen because the owner of the money has moved or passed away.