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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 Kansas, property is deemed abandoned or unclaimed if the owner cannot be located for a specific period, typically three years. This includes various assets 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 attempt to contact the owner and, if unsuccessful, must turn the property over to the state after the dormancy period has passed. The Kansas Unclaimed Property Act, under the administration of the Kansas State Treasurer's Office, governs the process of handling unclaimed property. Individuals who believe they have unclaimed property held by the state must file a claim with the State Treasurer's Office, providing proof of ownership to recover their assets. The state holds this property indefinitely until the rightful owner or heir comes forward to claim it.

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Government

abandoned or unclaimed property

Individual & Family Legal Plan

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Kansas State Code

Kansas State Code

Government

abandoned or unclaimed property

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