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Today, the UC Daily News featured an article called “Do You Have Unclaimed Property?” link This article talks about how millions of dollars are turned over annually to the State of Tennessee by U.S. companies which cannot locate the owners. The reality is that these millions add every year. The compound interest on these accounts can grow to a substantial amount.
Usual unclaimed properties for corporations are:
• bank accounts
• stock certificates
• checks
• unclaimed wages
• refunds
• gift certificates
• other sources
By law, the corporations and financial institutions are required to turn over unclaimed property when the owner cannot be reached. The specific laws vary by state. You can easily search this database with FoundMoney using the searchbox below:
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