The definition is generally similar in every state, but this is how it is defined in Wisconsin (courtesy of Wisconsin.Gov). You may want to check in your state. (We’ve added links on this page which may assist you).
Generally, unclaimed property is any financial asset that hasn't had owner activity for a period of one year or more and the holder of the asset is not able to contact the owner. This includes:
• Savings accounts
• Checking accounts
• Uncashed dividends
• Stocks and mutual funds
• Customer deposits or overpayments
• Certificates of deposit
• Credit Balances
• Refunds
• Matured life insurance policies
• Uncashed death benefit checks
The unclaimed property law also requires that utility deposits, unclaimed wages and property resulting from a business closure, be reported as unclaimed property after one year of inactivity. The law does not include real estate.
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