North Carolina is sitting on a treasure trove of nearly $1.3 billion in unclaimed property, awaiting return to its rightful owners.
This article breaks down what unclaimed property entails, why it accrues, and how you can find out if some of it belongs to you.
Understanding Unclaimed Property
Unclaimed property includes various financial assets that have been left unclaimed by their owners.
These assets can range from forgotten bank accounts and uncashed checks to utility deposits, insurance policy payouts, stocks, bonds, and even the contents of safe deposit boxes.
The North Carolina Department of State Treasurer’s Unclaimed Property Division holds these assets until they can be returned to their owners.
Causes of Unclaimed Property
There are numerous reasons why property goes unclaimed. People might change addresses without informing their financial institutions, forget about old bank accounts, or fail to cash checks.
Sometimes, unclaimed property accumulates because the owner passes away without leaving information about the assets to their heirs.
In the digital age, data losses during system updates or migrations can also result in unclaimed assets.
The Scope in North Carolina
North Carolina's unclaimed property amounts to nearly $1.3 billion, representing over 22.1 million properties and more than 25 million associated owners.
In the last fiscal year alone, from July 1, 2022, to June 30, 2023, the state returned over $108 million to rightful owners.
Success Stories
There have been several successful returns of unclaimed property in the state. One notable example is the recent return of $4,100.33 to Guilford County Schools by State Treasurer Dale Folwell.
This money will support the educational needs of the district’s 67,000 students across 126 schools​.
How to Claim Your Share
Finding out if you are owed any of this unclaimed property is straightforward:
- Visit the Official Website: Head to NCCash.com.
- Conduct a Search: Enter your name or business name in the search bar.
- Review Results: If your name appears, follow the provided instructions to file a claim.
- Provide Proof: Submit the necessary documentation to prove ownership, which might include identification, past addresses, or relevant documents related to the property.
Take Action
Given the substantial amount of unclaimed property in North Carolina, it’s worth taking a few minutes to check if any of it is yours.
Visit NCCash.com to search for your name or business and see if you have any forgotten assets waiting for you. Don’t miss the chance to reclaim what’s rightfully yours and potentially receive a financial boost.
By following these simple steps, you can uncover a hidden treasure that’s been waiting for you.
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