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Are you the owner of unclaimed property?

Sometimes we forget "stuff" or we may not know what is ours. The state of Minnesota holds millions of dollars in unclaimed property not claimed by citizens. The “property” in this case is financial and includes:

  • Money in dormant bank accounts.
  • Uncashed checks
  • Utility security deposits or
  • Insurance benefits.

Most unclaimed property results from a change in address, a death, or forgetfulness.

There is no charge or cost to find out if a state is holding funds that belong to you. There are private companies that charge from 20 to 30 percent of the value of the property to claim it for you, but you don’t need to use them. These companies often called "skip tracers," "finders," and "locators."

You can find out if you are the owner or the heir to unclaimed financial property in any state or province by checking Missing Money. The Office of the Minnesota Attorney General also provides a good resource — Is the State Holding Your Unclaimed Property?

Who knows what money may be out there waiting for you to claim. It could be a nice surprise!

Rosemary K. Heins, Extension educator in family resource management

Reviewed by Sharon Powell, Extension educator in family resiliency

Reviewed in 2018

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