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State of West Virginia Unclaimed Property

West Virginia Unclaimed Property comes under the custody of the State Treasurer as soon as a certain period of time passes without any financial activity from the owners. The holders of properties, funds, money or other assets, which rightfully belong to some other entities must try to locate the whereabouts of owners within a specified period. However, if they fail to find owners within this period, they must transfer the WV Unclaimed Money to the State of West Virginia .

West Virginia Unclaimed Properties

As per the West Virginia Uniform Unclaimed Property Act, the State Treasurer acts as a custodian of unclaimed property in WV and takes measures to find owners in order to return their lost properties as soon as possible. The most common forms of unclaimed property are matured insurance policies, bank accounts, bonds, weapons, stocks, safe deposit box contents and several other kinds of assets, which have been abandoned by their owners.

The State Treasurer collects unclaimed property from a number of organizations and keeps them safe for the original owners or their legitimate heirs. Some items may be auctioned after a certain period in safekeeping, but money generated through it is preserved for the rightful owners. This unclaimed money is deposited in the general revenue account of the state until the owners are found out.

West Virginia Unclaimed Property Division

The West Virginia Unclaimed Property Division provides resources for the people of the state to conduct searches and also to file claims if their names are found in the West Virginia Unclaimed Property List. Moreover, the services are provided free of charge and there is no time limit for an individual to file a claim. The official website of the WV Unclaimed Property Division contains valuable information regarding all aspects of unclaimed property in the state of West Virginia.

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