Unclaimed Property Glossary

The legal process by which property is transferred to the state when the owner can't be located after a set period. When a company "escheats" your forgotten account, it hands it to the state, which safeguards it until you claim it.

The length of time with no owner contact before property is considered abandoned and must be reported to the state — typically one to five years, depending on the state and property type. Wages and utility deposits often have shorter periods; some accounts longer.

The business or organization that owes you the property and reports it to the state — a bank, employer, insurer, utility, or retailer. When you search, the holder is often listed so you can recognize where the money came from.

The owner is the person or business the property belongs to. A claimant is whoever files to claim it — the owner, or an heir or authorized representative acting on the owner's behalf.

The National Association of Unclaimed Property Administrators — the organization of state unclaimed-property programs. NAUPA sets common standards and backs the free multi-state search at MissingMoney.org. See MissingMoney.org vs. your state's site.

The outreach a holder is required to attempt — usually a mailed letter — to reach you before reporting your property to the state. If that letter went to an old address, it's easy to miss, which is how property becomes unclaimed.

The year a holder reported the property to the state. You'll see it in the records; it's a rough clue to how long the money has been waiting.

The category of unclaimed property — such as an uncashed check, dormant account, or insurance payout. See the types of unclaimed property.