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You may not even be aware of it, but there’s a really good chance that you or someone you know has unclaimed property. Unclaimed property may include dormant savings and checking accounts, unclaimed wages, dividends, credit balances, and any type of outstanding checks. Banks and other institutions turn unclaimed property over to the state. (FYI: This is known as ‘escheat’ in legalese.) It’s up to you to reclaim your property from the state.

It can’t hurt to check out if you have unclaimed property somewhere. Click here to see a listing of the websites that state governments have set up to help you search for your unclaimed property.

The consequences of not checking on your unclaimed property can be pretty bad. Here’s a recent ABC news story.

Edit: ABC News Story No Longer Available).

Here’s a Los Angeles Times article from August 24, 2008. According to the article, there are currently over $33 billion in state hands. What’s more? The property was seized from 117 million people. The U.S. has a population of about 300 million. This means there is 1 in 3 chance that you are one of those people who had their property seized.

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