(Part 2 of 2) According to the State Treasurer, "Unclaimed property refers to accounts in financial institutions, companies, non-profits, even state governments that are some kind of financially related property, whether it's a tax rebate or a savings account or travelers checks, or gift certificates, insurance policies. (...)" />

February 5, 2012

Locating VT Unclaimed Cash – Part 2 of 2

(Part 2 of 2)

According to the State Treasurer, "Unclaimed property refers to accounts in financial institutions, companies, non-profits, even state governments that are some kind of financially related property, whether it's a tax rebate or a savings account or travelers checks, or gift certificates, insurance policies. And when the institution, whether it's a private or public entity, loses contact with the person whose property it is, for a certain number of years, usually it's three or five years, they turn it over to the state to try to find the rightful owners. Every state has an unclaimed property office, and there are some easy ways for people to search and find out whether a particular state has something for them."

Spaulding also warns his state's people against individuals who might try to take a large chunk of their cash by offering to help them track down their unclaimed money for a fee. Under Vermont Unclaimed Money Law, it's illegal for unclaimed money finders to charge more than 10% on cash found in the state of Vermont. Performing an unclaimed money search yourself is the optimal way to go – it is a relatively simple process, once you've learned how and where to search.

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