How to Claim for Your Unclaimed Property?

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How to Claim for Your Unclaimed Property

When an individual or a business account has been dormant for an extended period, approximately seven years or above, the state may decide to take the property, assuming that the owner is lost, naming it as unclaimed property. Some of your property may be considered unclaimed, maybe because you have no idea that you qualify for one.

Therefore, checking if you are eligible for a property may be a nice first move. Having your property is excellent but having some to add to yours is also enjoyable. When you want to claim your unclaimed property, here are the procedures to follow:

Find the Right Website

Mostly the process for claiming the unclaimed property usually varies by state. Therefore, there is no blueprint of the solution to getting your stuff. When you go to the Massachusetts unclaimed property website, you will be given the right directions that you need to follow while claiming your unclaimed property. You can seek recommendations on which website to go to from individuals who have ever claimed their property. You will be directed to the applicable state’s treasury or to the state’s controller’s website, where you will start the process of claiming your unclaimed property.

Put Your Documents in Order

After finding out that you have a missing property in your name and you need to claim it, you will be required to verify your identity. The requirements usually vary by state. The essential documents that you may be required to have are; a state-issued ID, proof of the social security number, confirmation of the address associated with the property you are claiming, and evidence of your current address. The documents will help identify your full name and the address to verify if you are the valid owner of the missing property. Some states may need a copy, but others may need original documentation.

File Your Claim

After selecting the best website and putting your documents in order and ready, you can now go-ahead to claim your missing property. You need first to read the claim instructions carefully on the specific site of your state. Some states allow for electronic submission if you meet certain conditions, while others won’t. If you cannot file for claim online, you will be required to mail a form of ownership alongside additional documentation to verify your identity. Then you mail the claim form to the address specified in the claim instructions of your state.

Wait for the Check

After following all the procedures required and finalized on sending your claim and all the documentation, you have to wait until your check arrives. The time taken can vary from state to state. Some take two weeks from the date that your claim was filed and, in other cases, more than six months. In some instances, you won’t be able to know the amount you can get back.

Suppose you have got unclaimed property and you are eligible for it. In that case, it is recommended that when filing at Massachusetts unclaimed property for your claim, you need to follow the correct instructions provided by your state. Whether it will take two weeks or the time frame that is placed for you to have your property, it is relatively good since you will be assured of getting your stuff.