As we all know in today’s world the most important asset for our living is real estate but in this particular scenario there are also properties which doesn’t have their direct owners called as unclaimed Properties which lead to problems of unclaimed money.
After declaring a property to be unclaimed property the property is directly owned by the state, and the information regarding all these properties is shared on state unclaimed property search website, you cancheckthis information on the state official website by clicking on find my money option.
Which properties are termed as unclaimed/abandoned?
The properties which do not have any direct owner for more longer period than 1 year, such properties are term as unclaimed properties or abandoned properties because these doesn’t have their existing owner who can claim on the property,
Having the property unclaimed it is a usual thing now as people move from one place to another without out doing proper documentation of their property which cost them a heavy loss of the property because the property is now taken over by the state so they have to reclaim their property and their unclaimed funds and money.
Procedure to reclaim our property?
You can directly claim your unclaimed property over States Unclaimed Property Search website, all you need to do is search for your property e and then we claim it using your proof documents and your relation with the original owner of the property.
Helping in these procedures they have a large data bases of unclaimed funds and unclaimed Properties your property with proper documentation.
Can you suggest some of the laws under which I can re claim my property??
There are various laws for each individual state for reclaiming their unclaimed funds let me introduce you to some of them: –
The Michigan Unclaimed Property Act:- . According to Michigan unclaimed Property Act both businessman and government entities have to report to Michigan department of treasury in case of any abandoned and unclaimed property and the property will hold to the owner who is last name is in Michigan or owners whose last address is not known
The Louisiana unclaimed property act:- According to Louisiana unclaimed Property Act:- in Luciana they have a fixed procedure they will first send a a letter to the original owner and if that doesn’t respond in given interval of time then they are going the business man to show the record regarding the property and if any case businessman fail to show the record then there will be the penalty on the businessman.
As there is a lot of misunderstanding in the common perception regarding the unclaimed money and unclaimed funds so in this blog we have tried our best to educate you regarding the unclaimed Assets and how to re-claim your unclaimed assets. Hope the given information helps you.