Unclaimed Property
What is Unclaimed Property?
Unclaimed Property is cash and other items of value that have been reported to the Department of Treasury because they have gone unclaimed by the owner beyond a dormancy period.
Unclaimed Property includes:
- Checking and savings accounts
- Certificates of deposit (CD)
- Over payments
- Insurance checks
- Payroll checks
- Refund checks (utilities, memberships, etc)
- Money orders
- Uncashed checks
- Dividends
- Stocks and bonds
- Contents of safe deposit boxes
The dormancy period is one year for any type of unclaimed property held by a court, state, municipality, or other government subdivision or agency, public corporation, or public authority. Note that public schools, public colleges and public universities are considered governmental entities. Bonds issued by government agencies and entities are also included in this category.
When unclaimed property is reported/transferred to the Michigan Department of Treasury, the Department becomes the new property holder. The owner still retains the right to the property and may request the item in question from the Department of Treasury.
If you believe you may be entitled to unclaimed property, you may submit an Unclaimed Property Inquiry by submitting your request via the Michigan Department of Treasury website.