5 Tips for Finding Unclaimed Property

Are you thinking that you could sure use that electric company security deposit you left behind the last time you moved? Or, maybe you found a safe-deposit box key in the bottom of a drawer but don't have the vaguest recollection of where the box might be and what's in it.

There may still be a way for you to get your hands on those assets.

For just about every category of unclaimed property, there is a government lost-and-found department. You can usually search for and retrieve your missing property for free by going directly to the agency responsible for its safekeeping. Based on a review of several government agency websites, the process typically involves looking for your name on a list, completing a claim form, having it notarized and presenting some type of documentation proving you are the rightful owner of the assets.

Here are five examples of the kind of lost loot that might turn up when you start searching.

All U.S. states and territories and the District of Columbia have programs that help owners of unclaimed property find those assets. According to the National Association of Unclaimed Property Administrators, there is at least $32.8 billion worth of unclaimed property in state custody.

The list includes checking and savings accounts, stocks, insurance payments, annuities, utility security deposits, mineral royalty payments and a host of other things you may have forgotten you owned or didn't know were worth anything. Besides assets that come directly from financial accounts, state-held property also may include proceeds from the sale of stocks and bonds, or from safe-deposit box contents sold at auction when it became impractical to store them.

The NAUPA website has links to every state's department in charge of unclaimed property. It also links to MissingMoney.com, a national website in which most states participate.

"If you've moved around a lot, that may be convenient, instead of checking several different states," says NAUPA President John Gabriel. "But if you've pretty much been in one or two states only, it's easier to go directly to those states -- especially if your name is common -- so you don't have to filter through a bunch of (unrelated) stuff."

If you own or have inherited a matured U.S. savings bond that you never got around to cashing, you may be able to redeem it by going to Treasury Hunt, the U.S. Treasury Department's searchable database.

The Treasury is currently holding about $16.4 billion in matured, unredeemed U.S. savings bonds, says Joyce Harris, director of public and legislative affairs for the department's Bureau of the Public Debt.

Only Series E bonds issued in 1974 and after are included in the database. If you are the heir to the original owner of the bond, you'll need to supply the owner's Social Security number and legal documentation of your relationship to that person to get the unclaimed property. For other types of bonds, Harris says you can fill out a form from the website and mail it in.

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