Picking up Nickels

Thursday, September 14, 2006

Finding lost or forgotten assets

Do you have an old bank account or stocks that you may have lost track of? If so, you're not alone. According to the Massachusetts Abandoned Property Division, 1 person in every 10 has abandoned property.

Every March and September, the Sunday Boston Globe contains an insert that lists owners whose unclaimed assets have been forwarded to the Abandoned Property Division within the past year. The latest insert had a list of over 40,000 new owners of unclaimed assets, which is a fraction of the listings found in their searchable abandoned property database www.findmassmoney.com.

In March, a family member found that they were somehow owed several hundred dollars from from a car that they traded in last year. I don't know the details of the situation, but they did apply for and eventually received their money.

Anyone can do a simple search to see if they have any unclaimed property. The National Association of Unclaimed Property Administrators (NAUPA) is a great place to start your search. NAUPA is a non-profit organization affiliated with the National Association of State Treasurers. Members represent all states and the District of Columbia.

The NAUPA web site, www.unclaimed.org, has links to the Abandoned Property Division for each state, as well as a link to the National Unclaimed Property Database web site www.missingmoney.com. Take a few minutes to check these sites out and maybe you'll find that you have some found money heading your way!

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