States around the country all have large sums of unclaimed money that is waiting to be collected by their rightful owners. We are going to take a look at the top 3 states with the most in unclaimed assets per person. After reading this list, be sure to get in contact with us to find out how you can find out if you have lost property waiting for you.
This may not come as a surprise to many since their unclaimed property laws take effect after 5 years. There is no time limit in which someone can get lost property from the state. Texas has their own unclaimed money department which can be found here. Texas has had a department to keep track of and try to return lost funds since 1963. Currently Texas has over $4 billion dollars in unclaimed funds. This averages out to approximately $139 a person.
Texas has a research department specifically tasked with trying to find the owners of lost funds. This is run by the state lost money department that is dedicated to helping Texans find what is rightfully theirs. The Texas Comptroller recommends individuals to not use firms that charge more than a 10% finders fee for helping locate lost funds. We believe any percentage is too much which is why we help find lost money for free! LostMoney simply asks its clients to donate to their favorite charity to help give back.
West coast is taking it home with California as the state with the second highest amount of unclaimed property and lost money. The average amount of time that the average lost money or lost property within the state sits at approximately 3 years. Their laws and statutes are similar to other states with the side note that they do not hold unused gift certificates. There is currently over $8 billion sitting in California that is waiting to be claimed. This totals to over $201 per person in the whole state!
One major difference between California and other states is that in 2003 they put in legislation that does not allow unclaimed property to generate interest. If money is left in the fund then it is eventually put towards the state’s education fund after notice of the rightful owner.
1. New York
The top state with the most lost money per individual is going to be New York! New York state has over $14 billion dollars in unclaimed money which totals to more than $704 per person. This is more than triple the second highest state which goes to show just how much unclaimed property New York has.
New York was one of the first states to adopt unclaimed money laws. In conjunction, they also have one of the most frequented websites due to the large amount of money under their control. This state also has the largest claims by a wide margin. The largest claim was over $5 million dollars in stocks that were able to be collected.
So what are you waiting for? Stop wasting time and send us in a contact form so we can get you in touch with your lost money today.