Minnesota started the Unclaimed Property Program in 1969, designed to return property to those who can prove ownership. According to the Minnesota Department of Commerce, the value of property that has been returned is almost $264 million.
Start your search for unclaimed property at the Minnesota Department of Commerce’s portal to missingmoney.com, which is a state-approved website that allows you to search for missing money. You will put in a required last name and an optional first name. The search will return a list of all matches. It will include the name on record, which may be a combination of a full name and/or initials. It will disclose the state of the money and a last known address. The reporting agency will be disclosed. These commonly include banks and insurance companies. It will provide an estimation of the amount or specify whether it is in excess of $100.
You can search for property under your name or that of a deceased relative if you think you may be eligible to his or her unclaimed property. You can then click on the link to submit a claim to a property that is listed. You will have to be able to answer affirmatively to several questions to have a successful claim. The property should be under your name or someone’s name to which you may have rights. The address should be one of your current or prior addresses. You should live or have lived in Minnesota and must have some association with the reporting company. If you believe your claim has value, you can then click to continue your claim.
When giving a claim, you will need a provide a variety of information and supporting documentation. This will include your name, address, phone number with a legal photo ID and Social Security card. You will need to provide proof of your residence as well as proof of a business dealing with the previous property holder. Further information may be required based on the individual claim.
Unclaimed property in Minnesota can take many forms. It may include proceeds from life insurance, uncashed checks, utility deposits, gift certificates, bank accounts, deposit boxes, court payments, royalties, unpaid wages and more.
Search for unclaimed property as soon as you can. According to CNN, you can lose the money in certain accounts if you wait too long depending on the type of asset. For more information about the value of the unclaimed property, e-mail unclaimed.property@state.mn.us.