Unclaimed money or property in Florida is usually held by banks, companies, or other businesses after it has not been claimed for a period of time.
Once a property is deemed unclaimed it passes from the owner or business to the state. The state will have a database you can search to reclaim it.
This article will discuss the different kinds of unclaimed money and property, and also the best ways to find it.
Types Of Unclaimed Money
First, let’s take a look a some of the most common types of unclaimed money:
- Money in savings and checking accounts
- Uncashed paychecks
- Unpaid insurance policies
- Certificates of Deposit
- State tax refunds
- Safe deposit boxes
How Much Unclaimed Money Is In Florida
The National Association of Unclaimed Property Administrators (NAUPA) says that there is around $42 billion worth of unclaimed money and property in America.
The Chief Financial Officer of Florida holds over $1 billion in unclaimed money.
Most of this money comes from inactive accounts in banks, insurance companies, utility companies, and other financial institutions.
Other types of unclaimed property exist too such as jewelry, coins, and other currency.
Search For Your Unclaimed Money
Start your search by visiting FLTreasureHunt.gov.
$328 million dollars were given out to people in Florida last year alone. The state says you have a one in five chance of getting unclaimed money. There is no fee to do an online search.
When doing your search, be sure to include any and all name changes. This will increase your chances of finding unclaimed money. For example, if you or a deceased family member has ever been married, be sure to search for both last names.
Run your searches by using a first name, last name, initials, or even nicknames. You want to be sure you have every chance to get unclaimed money.
If You Find Unclaimed Money In Florida
The next step is to request a claim form. You will need to provide documentation that shows you are due this unclaimed money. Make sure you have property identification as well. A driver’s license, Social Security card, or another form of ID may be needed.
Once you have filled out the forms and provide the information they request, the state department then has 90 days to respond.
Stay Active
The best way to avoid looking for unclaimed money or property is to stay active. This means keeping records of all your financial transactions.
