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Unclaimed Property

Overview

Billions of dollars’ worth of property deemed unclaimed by its owners is held by states in the U.S. Unclaimed property, also known as escheatable funds, refers to tangible or intangible property that was abandoned or forgotten by its rightful owners. When the owner fails to contact or claim these assets within a certain time period, they are considered unclaimed property. All 50 states, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands have enacted unclaimed property laws. These laws aim to safeguard unclaimed property and ensure that the rightful owners can eventually recover their assets.