What is Unclaimed Property?

Unclaimed property refers to financial assets that have been abandoned or forgotten by their rightful owners. This can include bank accounts, stocks, uncashed checks, insurance policies, utility deposits, and more. By law, companies and financial institutions must turn these assets over to state governments after a period of inactivity.

The Scale of Unclaimed Property

Currently, states across America are holding over $40 billion in unclaimed property. In California alone, the State Controller's Office is safeguarding more than $9 billion in unclaimed property belonging to approximately 48 million individuals and organizations.

Common Types of Unclaimed Property

Bank accounts and safe deposit box contents
Stocks, bonds, and mutual funds
Uncashed payroll checks
Insurance policies and annuities
Utility deposits and refunds
Trust distributions
Escrow account balances

How Property Becomes Unclaimed

Property typically becomes unclaimed when the owner:

Moves without updating their address
Forgets about old accounts
Dies without their heirs knowing about the assets
Loses track of investments
Fails to cash checks

How to Check for Unclaimed Property

While you can search for unclaimed property on your own through state databases, the process can be complex and time-consuming, especially if you need to search multiple states or have a common name. Professional recovery services like Blue Navy Recovery can help by:

Conducting thorough searches across all states
Handling all necessary paperwork
Verifying your identity and claim
Managing communication with state offices
Expediting the recovery process

Why Use a Professional Service?

While state databases are publicly accessible, many people find the claiming process overwhelming. Professional services offer several advantages:

Expertise in navigating complex claim requirements
Access to comprehensive databases and search tools
Experience with documentation and verification processes
No upfront fees - payment only upon successful recovery
Time and stress savings

Take Action Today

Don't let your rightful property remain unclaimed. Whether you suspect you have unclaimed property or just want to check, Blue Navy Recovery can help you through the entire process. Contact us today for a free consultation and let us help you recover what's rightfully yours.

Do You Have Unclaimed Property? A Complete Guide