Thursday, September 05, 2013

Are You that One in Ten with Unclaimed Property?

The Unclaimed Property Division of the Department of the State Treasurer seeks to return unclaimed property to its rightful owner.  The Division defines unclaimed property as:

"Any financial asset with no activity by its owner for an extended period of time. This includes savings accounts, checking accounts, unpaid wages or commissions, stocks, underlying shares, uncashed dividends, customer deposits or overpayments, certificates of deposit, credit balances, refunds, money orders, paid-up life insurance policies, safe deposit boxes, and uncashed benefit checks, gift certificates, etc. Unclaimed Property does not pertain to land, houses or real estate of any kind."

To see whether you have such property, search now.

Massachusetts General Laws chapter 200A addresses the disposition of unclaimed property.

Visit the Division website for FAQs and their contact information.