What is Unclaimed Property?
- Mostly, it's money but it can be any financial asset that has not been claimed by its owner or has not had any owner-generated activity for a specific time period (one to five years for most items). Unclaimed Property is not a real estate.
- Typically, Unclaimed Property is generated when people lose or fail to cash a check or forget to alert their bank or stockbroker when they move. Any company or organization that writes checks, drafts or warrants, has the potential to possess unclaimed property.
- Examples Include:
- Payroll Checks
- Refunds & Overpayments
- Money Orders
- Bank Accounts
- Stocks & Bonds
- Safe Deposit Box Contents
- Insurance Proceeds
- The state serves as a permanent custodian of the property until the rightful owner is found. The money is held in general fund for the benefit of all citizens of Kansas.