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How To Claim Abandoned Property In Missouri: A Step-by-step Guide

Published on April 9, 2023

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How To Claim Abandoned Property In Missouri: A Step-by-step Guide

Overview Of Unclaimed Money In Missouri

In Missouri, unclaimed money is a form of abandoned property that can be claimed by its rightful owner. Unclaimed money includes forgotten bank accounts, uncashed checks, safe deposit box contents, insurance payments, stocks and dividends, and other forms of property.

The total amount of unclaimed money in Missouri is estimated to be over $800 million. According to the Missouri State Treasurer's office, there are currently more than two million active claims for unclaimed property in the state.

To claim your unclaimed money or property in Missouri, you must first find out if you have any outstanding claims by searching the official website for the MO State Treasurer's office or contacting them directly. If you do have an active claim with the state, then you must follow the specific instructions outlined by the state treasurer's office on how to claim it.

Once all necessary paperwork has been completed and submitted, you may receive your funds within a few weeks or months depending on the nature of your claim.

What You Need To Know Before Claiming Unclaimed Money In Missouri

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Before attempting to claim any unclaimed money in Missouri, it is important to understand the laws associated with the process. Knowing what documents are legally necessary and where to search for funds can help you maximize your success in claiming abandoned property.

It is also important to understand how long a search may take and what fees might be required. Additionally, familiarizing yourself with the resources available from state agencies may help guide you through the process.

Lastly, understanding how long you have to make a claim and when and how you will receive payment are all essential pieces of knowledge necessary before beginning the claiming process. As always, it is wise to seek legal advice should any questions arise during the process.

Understanding How Unclaimed Money Is Managed In Missouri

In Missouri, unclaimed money is managed by the State Treasurer's Office to help individuals locate and claim their rightful funds. The office is responsible for the collection and safekeeping of abandoned property, and it can be claimed by individuals or businesses who have a rightful interest in the funds.

There are various types of unclaimed money that can be claimed in Missouri, such as uncashed paychecks, dormant bank accounts, insurance proceeds, stocks and bonds, refunds from utility companies, and more. To make sure all abandoned property is returned to its rightful owners, state law requires that financial institutions report to the State Treasurer's Office any accounts that have been inactive for two years or more.

The office also works with other government agencies to ensure that all possible sources of unclaimed money are identified and reported. Furthermore, when an individual or business has a valid claim to unclaimed money in Missouri, they can file a petition with the court in order to obtain any funds due them from the state.

How To Search For Unclaimed Money In Your County

claiming abandoned property

Searching for unclaimed money in your county is easy if you know the necessary steps. First, you will need to determine if the property was abandoned in Missouri, as some states have different regulations regarding abandoned property.

Once you have determined the property was abandoned in Missouri, you can begin searching online for unclaimed funds through a website like MissingMoney.com.

Additionally, you should contact your local government offices to see if they have any records of unclaimed money or assets that you may be entitled to. You may also need to contact other financial institutions such as banks or credit unions that might be holding the unclaimed money or assets on behalf of their customers.

Finally, be sure to thoroughly research any company claiming to help you find and claim your abandoned property, as there are unfortunately many companies out there that provide services that are either unnecessary or very costly.

Steps To Take When You Find Unclaimed Money

When you believe you may have found unclaimed money in the state of Missouri, there are specific steps to take in order to successfully claim it. Firstly, it is important to identify the type of abandoned property and its source.

This can include items such as bank accounts, uncashed checks, stocks and bonds, insurance proceeds, or safe deposit boxes. Once you have identified the item as abandoned property, search for the rightful owner’s name on the Missouri Treasurer’s Unclaimed Property Database.

If your search yields no results, visit Missouri's Department of Revenue website and use their free search tool to locate any potential unclaimed funds. To claim the funds or assets, complete an application with a proof of identity and submit it to Missouri's Department of Revenue.

If approved, your claim will be processed within 8-10 weeks. Ensure that all documents are verified and up-to-date before making a claim as this will speed up the process significantly.

Identifying The Source Of Unclaimed Funds

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Unclaimed funds and abandoned property in Missouri can be identified through a variety of sources. One way is to search the Missouri State Treasurer's Unclaimed Property website, which lists all unclaimed funds held by the state.

Additionally, individuals can also check with their local county treasurer and assessor offices for information about unclaimed property in their area. Furthermore, the Department of Revenue’s Division of Taxation has records of unclaimed assets that have been held for more than 12 months.

Additionally, it may be beneficial to contact banks and other financial institutions in the area as they may have records of unclaimed assets. Finally, searching through public records such as newspapers and court documents may provide information on properties that are considered abandoned or whose owners cannot be located.

With a little research, individuals can find out if any unclaimed funds or property are available in their area.

Calculating The Value Of Found Unclaimed Funds

When attempting to calculate the value of unclaimed funds in Missouri, there are a few things to consider. To begin, you should determine whether the property is tangible or intangible.

Tangible property includes items such as cars, jewelry, cash, stocks, bonds and real estate. Intangible assets refer to documents such as bonds, accounts receivable and life insurance policies.

Additionally, you should assess whether the asset is held by the state or another institution such as a bank or insurance company. If the asset is held by an institution other than the state of Missouri, you will need to contact them in order to proceed with your claim.

Furthermore, it is important to note that if any taxes or liens are associated with your unclaimed property it must be taken into account when calculating its value. Lastly, you may wish to consult with a professional appraiser in order to determine the full worth of your found assets prior to filing a claim.

Documenting Your Claim For Unclaimed Funds

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Documenting a claim for abandoned property in Missouri is an important step in the process of acquiring unclaimed funds. It's essential to keep detailed records regarding your application and all communications with state agencies.

If you're looking to file a claim, obtaining proof of ownership is a crucial part of the process. You'll need to provide documentation such as a deed, title, or bill of sale that confirms your legal right to the property.

Additionally, you may be required to submit additional forms or affidavits from other parties connected to the property, such as former owners or tenants. When filing a claim, it's also important to collect any relevant information pertaining to the asset and its history, such as tax documents, bank statements, and appraisals.

Making sure all documents are accurately filled out and submitted according to guidelines is key when claiming unclaimed funds in Missouri.

How Do I Claim Abandoned Land In Missouri?

If you’re looking to claim abandoned land in Missouri, the process can be complicated and tedious. The Missouri State Treasurer’s office oversees the Unclaimed Property Program, which is responsible for returning abandoned property to its rightful owners.

To begin the process of claiming abandoned property in Missouri, you must first search the state’s Unclaimed Property Database and determine if you have a valid claim to any existing unclaimed property. If so, you will need to fill out an application and submit it along with supporting documentation that proves your ownership of the property.

After submitting your application, it will be reviewed by the Unclaimed Property Program staff who will then determine if you are eligible for a claim. Once approved, all that remains is for you to pay any applicable fees including taxes and liens associated with the property before receiving ownership of it.

With a little bit of effort and research, anyone can successfully claim abandoned land in Missouri.

What Is The Dormancy Period For Unclaimed Property In Missouri?

paying property taxes on an abandoned home

In Missouri, the dormancy period for unclaimed property is five years. After this period of time has passed and the rightful owner of the property has not claimed it, then it is declared abandoned.

Unclaimed or abandoned property can be financial assets such as bank accounts, stocks, bonds, uncashed checks, wages, and insurance benefits. Missouri’s unclaimed property law requires holders of unclaimed funds to turn over all dormant accounts with a value of more than $50 to the state Treasurer’s Office for safekeeping.

Property owners should check with the state Treasurer's Office periodically to see if any lost funds have been turned over by their holder as abandoned property. The state will hold onto those assets until they have been claimed by the rightful owners.

Does Missouri Require Negative Unclaimed Property Reporting?

Missouri does not require negative Unclaimed Property (UP) reporting. In Missouri, the Unclaimed Property Program is managed by the Missouri State Treasurer's Office.

The office is responsible for collecting and returning UP to its rightful owners. To claim abandoned property in Missouri, individuals must file a claim with the state treasurer's office.

Claimants must provide proof of ownership, such as a copy of a deed or other proof of legal right to the property in question. The process is relatively simple and straightforward and can be done online or by mail.

Generally speaking, claimants are required to submit documentation within 120 days of filing their claim to receive their money or property back from the state treasurer's office.

What Is The Best Website To Find Unclaimed Money?

The best website to find unclaimed money in Missouri is the Missouri State Treasurer's website. On the site, citizens can search for unclaimed property using their name or business name.

The State Treasurer’s Office holds on to unclaimed funds from dormant accounts and forgotten assets such as uncashed checks, security deposits, dividends and refunds. Unclaimed funds are held in trust until they are claimed by the rightful owner or their heir.

To claim abandoned property in Missouri, individuals must submit an online application form that is available on the website. All claimants must provide identifying information as well as proof of ownership or inheritance.

After completing the application process, a check will be issued to the claimant which can then be cashed at any bank or financial institution. It is important to note that each state has different rules and regulations regarding how to claim abandoned property so it is important to do research before submitting an application.

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