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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 Delaware, property is deemed abandoned or unclaimed when the owner cannot be located for a specified period, typically three years. This includes assets like 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 surrender it to the state after this dormancy period. The Delaware Division of Revenue is responsible for managing unclaimed property. Individuals who believe the state may be holding their property can file a claim through the state's unclaimed property program. The burden of proof for reclaiming the property rests with the individual, who must provide adequate documentation to establish their ownership of the property in question.

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Government

abandoned or unclaimed property

Individual & Family Legal Plan

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Delaware State Code

Delaware State Code

Government

abandoned or unclaimed property

Articles