A. Every state has unclaimed or abandoned property laws. It is each state’s responsibility to administer its law accordingly. In some states, the responsibility lies with the Department of Commerce, other states may have a Division of Unclaimed Funds. In other states, that responsibility may lie with the Treasurer, Comptroller, or other State agencies. In all cases, the property is held by the state for the owner or heir in a custodial nature. In almost all cases the money never reverts to the state, but is held forever until the rightful owner or heir claims it.