Most unclaimed property comes from dormant accounts from financial institutions, insurance and utility companies, safe deposit box contents, and trust holdings. After five years of inactivity on an account, these companies must turn it over to the state. Unclaimed money is deposited into a state school trust fund, and the interest collected from the account is used for public education. The names of people with unclaimed property are maintained on a computer database. There is no statute of limitations on this property.
Citizens have the right to claim their property at any time, regardless of the amount.
There is no cost to file a claim.