(Part 2 of 2)

There are a number of types of accounts that can become unclaimed property if left inactive for a long enough time period, but the State Treasurer's web site lists the following as the most common: checking accounts, savings accounts, stocks, unpaid wages or commissions, un-cashed dividends, underlying shares, certificates of deposit, customer deposits or overpayments, refunds, credit balances, paid-up life insurance policies, money orders, gift certificates, and un-cashed benefits checks. Each of these account types has its own individual dormancy period. In SD, these periods range from 1-15 years, depending on what type of property is being dealt with.

While the majority of people are totally clueless about missing money owed to people by the government, a handful do know about these funds. But even those that are aware generally have no clue how to properly search for them and claim what is rightfully theirs'. To start with, just a few unclaimed search web sites have real records in their listings, and even fewer have remotely recently updated records. With millions being handed over each year, spread across thousands of accounts, the state can't possibly update the records in real time, leaving residents searching listings that are often not complete. This problem is even worse when we factor in the varying dormancy periods which means that getting no results one day might be misleading if a certain property isn't due to be turned over to the state for another year, or even a few years.

The best way to make sure all potential lost assets has been located is to learn what professional searchers do to sidestep these, and many other issues, and then use their tips in your own searches.

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Most State Governments Launch Intense Awareness Campaigns to Inform of
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