|Michigan Unclaimed Property is regulated through the Uniform Unclaimed Property Act, which is administered by the Michigan State Treasurer. Moreover, the State Treasurer is regarded as the custodian of the unclaimed property in the state of Michigan on behalf of the owner. According to the Act, the state gets hold of the property from the original holders if they are unable to return it to the owners within the period set by the law. Even if the original holder is no longer in business or the original owner is no more alive, the abandoned property in Michigan is kept safe for the heirs to claim at any time.
Michigan Unclaimed Property ListThe State Treasurer provides a centralized system for the citizens of the state of Michigan to track down their lost or forgotten monies, funds, accounts and other kinds of assets. The MI unclaimed property list, which is updated continuously, is made easily accessible to the owner. Moreover, the Unclaimed Property Division of the Department of Treasury encourages people to contact its staff for conducting unclaimed property search on behalf of the owner. If your name is found to be included in the list of owners, you will get your unclaimed money or assets back after verification of your identity, address and proof of ownership.
The unclaimed property comes under the possession of the state from financial institutions, banks, insurance companies and others, when all attempts to locate the owner have failed or a period of five years have passed with no owner-generated activity.
Michigan Unclaimed Property DivisionThe Michigan State Unclaimed Property Division publishes advertisements in newspapers to inform people of the recently added instances of abandoned property and then provides resources for the people to hunt down their lost treasure.
For all its services the MI Unclaimed Property Division does not charge a fee. However, if you hire the services of a finder to locate your lost treasure within the state or outside it, you may have to pay some fee according to the contract you have made with the finder in this regard. To get a fuller account of all kinds of unclaimed properties in the state of Michigan , you may visit the official website of the Michigan Department of Treasury.