Missouri holds over $1 billion in unclaimed property, a figure that continues to grow as more assets are turned over to the state.
This includes forgotten bank accounts, uncashed checks, and unused utility deposits.
According to the Missouri State Treasurer’s office, one in ten Missourians has unclaimed property waiting for them. These staggering statistics highlight the potential for residents to recover lost assets.
Why Does Property Go Unclaimed?
A property becomes unclaimed for several reasons. People move and forget to update their addresses, bank accounts become dormant, or individuals pass away without informing their heirs about certain assets.
When the rightful owners cannot be located, financial institutions and other entities are required by law to turn these assets over to the state after a period of inactivity, usually five years.
Steps to Claim Your Unclaimed Property
The process to claim unclaimed property in Missouri is simple.
Start by visiting the Missouri State Treasurer’s website and using the online search tool. If you find a property that belongs to you, you will need to provide proof of ownership, such as identification and documentation related to the asset.
Once your claim is verified, the Treasurer’s office will return your property free of charge.
The Role of the Missouri State Treasurer
The Missouri State Treasurer plays a crucial role in managing unclaimed property. The office safeguards these assets and works diligently to reunite them with their rightful owners.
The Treasurer’s office maintains a searchable online database and has successfully returned millions of dollars to thousands of Missouri residents over the years.
Read: Discover Your Hidden Treasure: Reclaiming Lost Funds In California
Beyond unclaimed property, Missouri residents can take advantage of various government benefits.
The Missouri Property Tax Credit Claim, for example, allows eligible senior citizens and 100% disabled individuals to apply for a credit based on the amount of real estate taxes or rent they have paid.
Additionally, the Missouri State Assistance for Housing Relief (SAFHR) program provides rent and utility assistance to those facing financial hardships due to the pandemic.
Conclusion
Given that one in ten Missourians has unclaimed property, it’s worth taking a few minutes to see if any of it belongs to you.
Whether it’s a forgotten bank account or an old utility deposit, these funds could provide a financial boost.
Plus, exploring other state-provided benefits can further enhance your financial well-being.
Don’t let this opportunity pass you by—check the Missouri State Treasurer’s database today to see if you have unclaimed property waiting for you.
Related read: FAQs About Unclaimed Assets And Money
