Unclaimed property
Money or assets a business holds for an owner it lost touch with, such as old bank accounts, uncashed checks or insurance proceeds. States hold it until you claim it.
Also called: abandoned property, unclaimed money, unclaimed funds
Money or assets a business holds for an owner it lost touch with, such as old bank accounts, uncashed checks or insurance proceeds. States hold it until you claim it.
What it means
Unclaimed property, also called abandoned property, is money or other assets that a business or institution holds for an owner it has lost touch with. After a set period with no activity or contact, called the dormancy period, state law requires the holder to turn the property over to the state. The period depends on the type of property and the state, and it can be as short as one year.
Common examples are forgotten bank accounts, uncashed payroll or refund checks, stocks and dividends, insurance proceeds, utility deposits, trust distributions and safe deposit box contents.
Once property is turned over, the state keeps it for you or your heirs. Searching and claiming through your state's official program costs nothing. The National Association of Unclaimed Property Administrators (NAUPA) says about 1 in 7 people have unclaimed property. Some states, such as New York, have no time limit for claiming.
What it means for you
Unclaimed property is money that already belongs to you, and the official way to get it costs nothing. Search your name, past names, and every state where you have lived or worked. Use each state's official site or MissingMoney.com, which NAUPA runs. Be wary of "finders" who take a percentage. Legitimate ones exist, but you do not need one. Claims usually require proof of your identity and ownership. You can also search for deceased relatives and claim as an heir with the right documents. See our guide to claiming unclaimed property from your state.
Example
Say a hypothetical you changed jobs years ago and never cashed your final paycheck. Your old employer could not reach you, and after the dormancy period it reported the money to the state. You search your name on MissingMoney.com and find the listing. Then you file a claim on the state's official site with proof of your identity and that the money is yours. The state pays you the money without a fee.
FAQ
Yes. It is money or assets a business owes you but could not deliver, such as an old account or an uncashed check. Searching and claiming through your state's official program is free, and NAUPA's MissingMoney.com searches many states at once.
It depends on the state. Some, such as New York, say there is no time limit to claim. Check the official program of the state that holds your property.
Related terms
- NAUPA: What is unclaimed property?
- NAUPA: Can I really search for free?
- New York State Comptroller: Unclaimed funds
Updated Oct 18, 2026. Plain-English definitions for general information — not legal or tax advice.