Through reciprocity and streamlined reporting, assets are properly reported and placed in the custody of the state of the owner's last known address. Briefly summarizing, unclaimed property is to be returned to the state of the property owner's last known address. If there is no owner's address associated with the property, then it should be returned to the state in which the business remitting the funds is incorporated .
States regularly exchange property and related information.
This is why it is important to check all states for unclaimed money and property which may be owed to you regularly, not just the most recent state you may have resided in. Claimants are encouraged to contact and work with state or federal agencies as claims processing is a FREE public service to the owner. Private recovery agencies, tracers and other third party companies may offer assistance in reuniting you with your lost or abandoned property. Do your homework, understand your potential costs and options before you choose to use any of these companies. Inc. All rights reserved.