Unclaimed or “abandoned” property refers to property or accounts within financial institutions or companies—in which there has been no activity generated (or contact with the owner) regarding the property for one year or a longer period.
After a designated period of time (called the dormancy period) with no activity or contact, the property becomes “unclaimed” and—by law—must be turned over to the state.
Unclaimed property can be intangible, which is the most common (ex. uncashed paychecks, stocks, security deposts), or tangible (ex. safe deposit box contents).
Each state maintains a database of unclaimed property. You can search that database and claim any of your property at no cost to you.