Unclaimed Money Arkansas

Unclaimed Money, often known as unclaimed property, is not property or money that is just waiting to be claimed. Instead, it is money with a known owner who has been unable to contact the institution holding the money or property. The organization that originally held the money passes the money over to the state after a specified amount of time, which is defined by statute and varies from state to state and across categories of property. The state then acts as a custodian for the funds until the money is claimed by the original owner, his heirs, or assignees. If the federal government holds the money, such as the IRS, the money is retained as a custodian until it is claimed.

Finding unclaimed funds is a simple process, however it can take some time. Each state keeps track of unclaimed property. You may search these registries for your name, and if you locate property under your name, you can acquire more information to see if it is yours. You can file a claim with documentation of your identity and ownership if you believe the property belongs to you.