If it is in the best interest of customer relations, or if an account has been remitted in error, the holder may request reimbursement of the unclaimed account. Evidence showing the owner has received a refund or the account has been reinstated must accompany the claim form. It is in your best interest to contact the Division, prior to releasing the proceeds, to ensure the account is available for claim. The Division of State Lands periodically has training sessions for holders. The state's responsibility Once money or property is reported to the state as unclaimed, Division staff go into action.
Intangible property is entered into a database, and tangible property is sorted and catalogued.
A search is made for owners via assorted methods that include a credit bureau, skip tracing, newspaper advertising, and this web page. When the rightful owner is found, the property is returned. If the owner cannot be found, the state holds the asset in perpetuity where it benefits the Common School Fund. The law does not allow the state to take ownership of the asset. The Division has the authority to examine the records of any company that it believes may hold unclaimed property.