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Washington Unclaimed Property |
Washington Unclaimed Property refers to a financial asset that has been held by some entity other than the original owner for a longer period of time. As per the law of the state of Washington, the holders of such property, funds, money or cash cannot continue to hold these for more than three years. After this period, the business entity must transfer the accounts of such Unclaimed Properties to the WA State, if it fails to contact owners. The Washington State Department of Revenue is the agency for reporting about the existence of unclaimed funds in its records.
Washington Unclaimed Property Search
The Department of Revenue in the state of Washington collects unclaimed money and funds from a variety of sources, such as banks, credit unions, corporations, governmental entities, and insurance companies, to name a few. The types of property that can become abandoned or unclaimed property include insurance proceeds, safe deposit box contents, bank accounts, uncashed checks, travelers checks, stocks, mutual funds, bonds, utility deposits and the likes. Tangible property, such as real estate and vehicles is not considered unclaimed property in the state of Washington .
The Department's Unclaimed Property Section receives a huge amount in unclaimed money every year, a good part of which is successfully returned to the original owners or heirs. |
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There is an unclaimed property program, which is responsible for receiving unclaimed funds from the holders as well as returning these to the owners after the establishment of their identities. There may be auctions for some items from safe deposit boxes, if they are not claimed within five years, but the sales proceeds are kept safe for the owners.
In order to carry out Washington State Unclaimed Property Search, visit the official website of the WA State Department of Revenue.
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