Q. What are some ways that property becomes abandoned?
A. Here are some ways property and assets can become abandoned.
- If you moved and forgot to notify your bank, broker, employer, etc of your new address.
- If you did not move but your address changed due to 911.
- If your forwarding order with the post office expired.
- If you received a check and you did not cash it.
- If you left a job and never returned to receive your last paycheck.
- If you overpaid a credit card bill but did not use the credit.
- If a regular account statement was inadvertently marked undeliverable and was returned to the sender in error.
- If you have in your possession a gift certificate, certified check, cashier’s check, or money order you haven’t spent.
- If you bought stock, placed them in a “safe” place, and forgot them.
- If you are holding bonds that were called or called early.
- If you had a distant relative who passed on, leaving an estate, but the heirs were never located.
- If you have valuable accounts in a bank, with a broker or trader, trust or other safekeeping agent that you have not contacted in four years or longer.