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Maryland Unclaimed Property

Maryland Unclaimed Property, which includes stocks, bonds, security deposits, saving accounts, insurance proceeds, contents of safe deposit boxes and many other valuables, is administered by the State of Maryland Comptroller's Office. Unclaimed Property in Maryland is reported to the Comptroller's Office by banks, financial institutions, government agencies and other privately-owned undertakings. According to the law of the state, a property becomes abandoned after a period of three years, if no activity from the owner of the property is generated during the period.

Maryland Unclaimed Property Law

The Unclaimed Property Law of the State of Maryland further rules that all abandoned property, money or funds should compulsorily be reported to the Comptroller's Office, which provides a single window for the owners to find their lost or forgotten properties. Moreover, there is no time limit for the owners or the legitimate heirs to make a claim. Furthermore, the MD Unclaimed Property Division makes it possible for the users to conduct online search of unclaimed money, funds or property and that too, at absolutely no cost. Besides, the Maryland Unclaimed Property List is continuously updated.

All unclaimed property in MD is kept safe under the possession of the state. However, the contents of safe deposit boxes may be auctioned and the money thus collected is put in the state's general fund.

Unclaimed Property Reporting

Such unclaimed money in Maryland is always available for the original owners or heirs and they can reclaim it whenever they come to know about its existence. To make a claim, you must supply authentic documents for the verification of your name, address and ownership along with a claim form. Similarly, a holder of unclaimed property in Maryland can file report and then remit property to the State Comptroller. For further information in connection with reporting or claiming Maryland State Unclaimed Property, you may visit the official website of the Comptroller of Maryland.

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