Louisiana Has $879 Million In Unclaimed Property – Some May Be Yours
You may have some cash sitting in a vault at the Unclaimed Property. More than 207,000 Louisiana residents have received an Unclaimed Property Check this year. The grand total of money returned thus far is $654,927,722 and counting believe it or not. The Louisiana Department of Treasury John M. Schroder said that is the highest amount in state history ever processed. Some of this unclaimed money could possibly belong to you! There is only one way to find out if you have cash waiting on you is to simply, do a search for your name on the Unclaimed Property state website.
The Louisiana State Treasurer's Office is reported that is currently holding more than $879 million in unclaimed money for current and former Louisiana residents. In case you were unaware after exhausting all attempts to make contact banks, credit unions, and other entities are required by law to release money that has been laid dormant for a number of years to the Treasurer's Office. Then they hold the lost funds, uncashed checks, or stock certificates until the original owner, the legal heirs or estate representatives claim it. There is no deadline to this money either because property owner never loses the right to their property. The state Treasury Department will hold the money in a vault until it's claimed.
If you think it is possible that the state is holding money for you, but you turned up nothing when you searched your name, you may try searching the names of a loved one who has passed away. According to reports, the best time to search for a deceased loved one's name is roughly three years after their death.
Other entities such as corporations, financial institutions, life insurance companies could have turned the unclaimed property over to the state. The most common unclaimed funds are unpaid life insurance policies, forgotten bank accounts, utility deposit refunds, or uncashed payroll checks. So, it may be worth your while to check into this to make sure no property has been left behind. The average cash amount waiting on people to claim is around $900!