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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 Missouri, property is deemed abandoned or unclaimed when an 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 these assets are required to report and turn over unclaimed property to the Missouri State Treasurer's Unclaimed Property Division after the dormancy period has passed. The state then acts as the custodian of the property until the rightful owner or heir claims it. Individuals seeking to reclaim their property must file a claim with the state, providing proof of ownership. Missouri's unclaimed property laws are outlined in Chapter 447 of the Missouri Revised Statutes, specifically sections 447.500 to 447.595, which detail the process for reporting, turning over, and claiming abandoned property.

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Government

abandoned or unclaimed property

Individual & Family Legal Plan

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Missouri State Code

Missouri State Code

Government

abandoned or unclaimed property

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