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abandoned or unclaimed property

Property is generally considered abandoned or unclaimed if the existence and location of the owner is unknown for an extended period of time—often three years. Common types of unclaimed property are bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and safe deposit box contents. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming it from the state.

In Arkansas, property is typically deemed abandoned or unclaimed if the owner cannot be located for a specified period, usually three years. This includes various types of property such as bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and the contents of safe deposit boxes. Businesses holding such property are required to report and turn it over to the Arkansas Auditor of State, which operates the Unclaimed Property Division. The Division is responsible for holding the property until the rightful owner or heir claims it. Individuals who believe they have unclaimed property in Arkansas can search for and claim their property through the official state website or by contacting the Unclaimed Property Division. The state makes a concerted effort to locate the rightful owners, including through public databases and sometimes through public awareness campaigns.

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Government

abandoned or unclaimed property

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Arkansas State Code

Arkansas State Code

Government

abandoned or unclaimed property

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