Find Missing Money and Property with the Click of a Mouse!Contact: Terry Stanton, (517) 335-2167
The Michigan Department of Treasury has added more than 85,000 new accounts to its Unclaimed Property database in the last six monthsand one or more could be yours! Finding out is easy. Just click on www.michigan.gov/unclaimedproperty.
Under the Uniform Unclaimed Property Act, Michigan insurance companies, banks, businesses, local units of government, and other entities are required to turn over abandoned or unclaimed property to the State of Michigan each year. The Unclaimed Property Division then works to reunite properties like uncashed checks, bank accounts, stock certificates, insurance claim payments, and other assets, with their rightful owners. In recent years, the number of paid claims has nearly doubled, to 36,800 in Fiscal Year 2005. As a result, $35 million was returned to individuals last year alone (see table).
|Claims Paid by UPD||21,100||30,800||35,600||36,800|
|Amounts Paid||$27.1 mil||$30.3 mil||$34.7 mil||$34.8 mil|
In recent years, Treasury has received additional unclaimed property as a result of demutualizations of insurance companies, and the reduction of the dormancy period for stocks and dividends.
To check Treasury's unclaimed property database, log onto www.michigan.gov/unclaimedproperty and click on the "Michigan's Money Quest" link. Visitors to Treasury's web site also have easy access to national unclaimed property search engines. There are no fees associated with claiming unclaimed property. Simply fill out the claim form and provide information necessary to support your claim.
Individuals who do not have Internet access can call the Unclaimed Property Division at (517) 636-5320, Monday through Friday, between 10:00 a.m. and 4:30 p.m.