Can you claim unclaimed property that isn’t yours in 2023? Everything you need to know!

No, You can’t claim unclaimed property that isn’t yours

Claiming unclaimed property that doesn’t belong to you is illegal, primarily because unclaimed property remains the rightful owner’s until claimed. Each state has its unique process requiring proof of ownership. Attempting to claim property without proper documentation is pointless. Non-compliance with unclaimed property laws results in severe penalties and interest charges under state statutes. To prevent legal repercussions, claim only your rightful property. If uncertain, consult the state’s unclaimed property office for guidance on the rightful owner.

To claim unclaimed property, you must be the rightful owner or the legal heir of the owner. You must also be able to provide documentation to prove your ownership or heirship. The specific documentation required will vary from state to state, but it may include things like a copy of your driver’s license, birth certificate, or death certificate.

How to find unclaimed property

Steps to Find Unclaimed Property:

Visit (NAUPA’s Website):

  • Go to, the website of the National Association of Unclaimed Property Administrators (NAUPA).
  • Use their free search tool, which covers all 50 states and the District of Columbia.
  • Enter your name and state of residence to search for unclaimed property.
  • If there are matches, follow the provided instructions to claim the property.


  • Access, an endorsed and state-maintained search tool also supported by NAUPA.
  • Search for unclaimed property in multiple states at once.
  • Enter your name and state of residence in the search tool.
  • If matches are found, you will receive instructions on how to proceed with claiming the property.

Check All Relevant States:

  • Previous search tools offer a starting point, but remember that unclaimed property location is based on the last residence or location.
  • Check every state where you have lived or conducted business.
  • You can do this by visiting each state’s official unclaimed property website or by directly contacting the state’s unclaimed property office.

Caution About Companies Offering Help:

  • Be cautious of companies that charge a fee to assist you in finding unclaimed property.
  • While some may be legitimate, others could be scams.
  • It is advisable to utilize the free search tools mentioned above or contact the state’s unclaimed property office directly to avoid unnecessary fees or potential scams.

How to claim unclaimed property

Confirmation of Property Rights and Identity:

  • Claimants must be prepared to demonstrate Evidence of Property Rights and their Identity.

Varying Processing Times:

  • The processing time for unclaimed property claims varies by state and property type.
  • Some states process claims swiftly, while others may take weeks or even months.
  • Exercising patience is crucial, and you may need to contact the state’s unclaimed property office for follow-up if there is a delayed response.

Potential Fees:

  • Claiming unclaimed property may involve fees, such as processing fees or fees for obtaining the required documentation.
  • Fee amounts can vary depending on the state and the type of property being claimed.
  • It’s advisable to check the state’s unclaimed property website or contact the state’s unclaimed property office directly to determine any applicable fees for claiming your property.

What documents are required to claim unclaimed property?

Documents Required to Claim Unclaimed Property:

To claim unclaimed property, you will need to provide specific documentation to prove ownership and identity. The required documents can vary depending on the state and the type of property being claimed. Here are some examples of the documents that may be required to claim unclaimed property:

Proof of Identity:

  • You will need to provide proof of identity, such as a copy of your driver’s license, passport, or social security number.

Proof of Ownership:

  • Proof of ownership of the property is essential, and this may include bank statements, stock certificates, or other relevant documents.
  • Each state has unique requirements regarding the types of evidence needed to process a claim.

Certified Death Certificate:

  • In case the original property owner is deceased, you might be required to furnish a certified death certificate for the owner.

Signed Claim Forms:

  • Claimants usually must sign claim forms to confirm their status as the rightful owners of the property.
  • Each claimant must submit identification and sign the claim form.

Other Documentation:

  • Additional documentation may be necessary, depending on the state and the type of property being claimed.
  • For instance, if you are claiming unclaimed property from an estate, you may need to provide proof of identity of the estate’s representative and certified copies of relevant documents.

Risks of Non-Compliance with Unclaimed Property Laws


  • Penalties for non-compliance with unclaimed property laws can encompass fines, interest, and other charges.
  • The severity of penalties may vary depending on the state and the duration of unclaimed property.
  • For example, the Wisconsin state treasurer imposes an annual interest equal to 18% of the unclaimed property’s value, coupled with a penalty of $100 per day, up to a total of $5,000. In some cases, penalties can be as high as 100% of the value of the unclaimed property.


  • Interest is a common penalty for non-compliance with unclaimed property laws.
  • Interest rates may vary depending on the state and the duration of unclaimed property.
  • For example, California automatically assesses interest on late-reported property at a rate of 12% per annum, starting from the date the property was required to be reported until the date it is actually reported.

Self-audit and voluntary disclosure:

  • To avoid penalties and interest for non-compliance with unclaimed property laws, organizations can initiate their own self-audit and apply for a voluntary disclosure agreement with the state. This allows them to remit unclaimed property amounts without incurring typical state audit penalties.

Compliance policies and procedures:

  • To mitigate the risks of non-compliance, it is crucial to maintain compliance with unclaimed property laws.
  • Recommendations include that businesses and organizations establish formal, documented policies and procedures to ensure compliance.

State-specific laws:

  • Penalties and interest for non-compliance with unclaimed property laws can vary significantly by state and property type.
  • Awareness of the specific unclaimed property laws in each state where the business or organization operates is essential to avoid financial consequences and legal liabilities.

How unclaimed property is generated?

Unclaimed Property:

  • Unclaimed property results from no contact between the owner and the holder for 3 to 5 years.
  • Reasons include forgetfulness, relocation without forwarding address, owner’s death with heirs unawareness, or incapacity.
  • Common unclaimed property types: bank accounts, safe deposit contents, stocks, bonds, uncashed checks, insurance payouts, utility deposits, gift certificates, mineral royalties, trust funds, and court deposits.

Reporting and State Involvement:

  • The relevant state legally requires holders of unclaimed property to report it.
  • States make endeavors to reach out to property owners for property return; if owners cannot be located, unclaimed property becomes state-owned.
  • In 2022, states returned over $3.6 billion in unclaimed property to rightful owners, contributing to state revenue.

Here are examples of how unclaimed property can arise:

  1. Owner forgets an old bank account.
  2. Relocation without updating address with an investment company.
  3. Owner’s death without a will, leaving heirs unaware of life insurance.
  4. Incapacitation prevents financial management.
  5. Utility company closure results in unreturned customer deposits.
  6. Received gift certificates remain unused.
  7. Mineral rights owners miss collecting royalties.
  8. A trust fund for a minor becomes unclaimable as they grow.
  9. Deposited money for a legal case remains unclaimed after resolution.

Ownership and Legal Consequences:

  • Unclaimed property belongs to the original owner until claimed.
  • Illegally claiming unclaimed property incurs penalties and interest.
  • Non-compliance with unclaimed property laws may harm a company’s reputation if they don’t adequately reunite obligations with rightful owners.


In conclusion, attempting to claim unclaimed property that doesn’t rightfully belong to you is illegal and comes with severe penalties and interest charges. Unclaimed property remains the property of the original owner until properly claimed, and each state has its unique process for verifying ownership. To safeguard against legal repercussions, it’s crucial to only claim property for which you can provide valid documentation proving your ownership or heirship. Keep in mind that complying with unclaimed property laws is not just a legal obligation but also entails an ethical responsibility to reunite rightful owners with their assets.

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