June 24, 2024 peaccadmin

Unclaimed Property Intangible Assets : A Money Treasure Trove Beyond Lost Cars or Stray Animals

While forgotten belongings like lost cars or stray animals might come to mind when you hear “unclaimed property,” state law paints a different picture. Most unclaimed property is actually intangible – meaning it’s not a physical object you can hold. Safe deposit boxes are the rare exception.

So, what kind of invisible riches could be hiding out there waiting to be claimed? Here’s a sneak peek into the surprising world of unclaimed intangible assets:

  • Lost and Found Paychecks: Ever miss a paycheck or have one mysteriously disappear? These forgotten wages can end up in the unclaimed property pool.
  • Refund Roulette: Did a store owe you money from a return but you never followed up? Don’t write it off yet! It might be waiting for you like a forgotten lottery ticket.
  • Gift Card Goldmines: Did a gift card languish in a forgotten wallet or purse, its balance gathering dust? Some states consider unused gift card value as unclaimed property, potentially turning that forgotten plastic into a pleasant surprise.
  • Mystery Money Mania: Have you ever received an unexpected payment with no explanation? If it’s not claimed within a certain timeframe, it could become part of the unclaimed property treasure trove.

These are just a few examples, and the list can get even more intriguing depending on your state’s regulations. Insurance companies, for instance, have their own set of unclaimed property rules. However, the core concept remains the same: money owed but not retrieved can end up as unclaimed property.

Imagine the joy of discovering a forgotten windfall! Fortunately, most states have user-friendly websites where you can search for unclaimed property that might be rightfully yours. Don’t let your hard-earned cash languish in the unclaimed property abyss – take a few minutes to search and potentially reclaim what’s owed to you.

For further information, or to find out what types of property a holder should be reporting to be compliant, please reach out to a professional at PEACC.com (410.303.5510 or email us at info@peacc.com) to discuss all your unclaimed property needs or questions. Contact PEACC before a state contacts you!

Unclaimed Property Intangible Assets
Tagged: ,

Your Total Source for Unclaimed Property Compliance

Get in touch with us!