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Posted By aubiac46120 10 months, 1 week ago in Business & FinanceEvery year billions of dollars in unclaimed money and property is turned over to the State by companies who cannot locate the
owners. Unclaimed money and property in the form of bank saving accounts, safety deposit vaults, deposit certificates, estates owned, money orders that were not cashed, insurance policies that are terminated or matured, term deposits, non refunded utility deposits and many other sources. Companies cannot hold on to money owed to another indefinitely. When the company cannot find the property owner, the money must be handed over to the State. State laws require the remittance of unclaimed money, from:
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