What attempts are made to find the rightful owners?
The holder (except banks and financial institutions if they complied with Section 55-210.3:01) is required to exercise due diligence prior to the submission of the unclaimed property report. The holder is required to perform due diligence when the property has a value of $100 or more. This means that they must mail a first-class mailing to the owner’s last known address informing them of the dormant status of the property (Section 55-210.12(e)). The division is required (Section 55-210.13) to publish the owner’s names in the newspaper annually. Additional efforts to locate the owner are made by the investigative section of the Unclaimed Property Division. The Commonwealth also maintains a website that allows visitors to perform their own search for property. Go to www.VaMoneySearch.org to look for property held by Virginia’s Unclaimed Property Division.
Under the law, the “holder” (banks, corporations, financial institutions, safe deposit companies, insurance companies, etc.) must make an effort to locate the true owners. If they are unsuccessful, they are to report the names and last known addresses of the owners to the Unclaimed Property Division. The Division performs due diligence upon receipt of accounts with a value of $10 or more. The Division places ads in Wyoming newspapers in February or March of each year. The list of owners’ accounts which have been held for two years or more is available on our website (www.wywindfall.gov) and a list indicating the names and addresses by county is mailed quarterly to the respective county clerk’s office. People can contact our office for a “complete” name search. A listing of unpaid owners is available to the public for viewing in our office by appointment. There is no time limit to claim your money. Unclaimed funds are held forever until the owner, or his/her heir, claims the funds.
Under the law, the holders (the entity which has possession of the property, i.e. banks, insurance companies, credit unions, etc.) must make a good faith effort to locate the true owner. If they are unsuccessful, they are to report the names and last known address of the owners to the State Treasurer. By statute, a list is sent to all the Clerks of Court in North Carolina. Also, the Department of State Treasurer is required to post a notice in at least two newspapers stating the nature of the lists and that the lists are available for inspection at the offices of the respective clerks of superior court. Additionally, the Department of State Treasurer has developed and implemented a statewide outreach and public awareness effort that includes setting up booths at various fairs, street festivals and conventions, asking for assistance from members of the General Assembly as well as local governmental offices in locating rightful owners, and working with the media to encourage people to ch
