Thursday, August 9, 2012

Unclaimed Money in the State of Alabama

Alabama is an attraction for the modern day treasure hunters. People going around holding metal detectors in Alabama have become more than a time pass for the residents of Alabama. It attracts many people who are interested in artifacts and other valuable items made from silver and gold which may be found hidden beneath the surface. But this is not the only interesting news for the Alabama residents. Alabama unclaimed money is one such topic which is of the same interest if not less as the hidden treasures.

Besides the treasure hunting in Alabama there are millions of dollars in unclaimed cash waiting to be collected by their respective owner. State of Alabama has recently given back almost 23 million dollars to the residents of Alabama in unclaimed money. "Given back" because this money originally belonged to those people and the state just returned these back to their respectful owners.

This large amount of money which was returned to the owners was made possible by the state programs of making people aware about Alabama unclaimed money. Annual list of the people owning money in the Alabama unclaimed money is issued and displayed on all major public places for example state fairs, shopping malls etc. Booths are also set up by the government which provide free help to see if you have got any share in the Alabama unclaimed money.

The state of Alabama Holds almost 400 million dollars in unclaimed money so there is a good chance that you might have got some share of this money. And who knows what might be waiting for you.

The reason for the growing of Alabama unclaimed money is that people get new jobs and move away changing their addresses, changing names, income tax refunds, stock dividends, sometimes people forget to collect insurance checks or salary checks, forgotten saving accounts is another reason that makes up this unclaimed money.

Sometimes when people pass away their assets are transferred to their next kin but sometimes that person cannot be found due to changed address or name. Also sometimes inheritors are not even aware of the property of their parents/relatives.

So if the person cannot be located or the assets are not active for a certain amount of time then this funds/property is transferred to the state where it gets added to the Alabama unclaimed money and property list waiting for the right owner to collect it. This time varies by state but in Alabama this dormancy period is 5 years for unclaimed funds and one year for salary checks.

According to the state officials there are almost 400 million dollars still left to be claimed by the resident s of Alabama. So do not delay further and do a free money search online.

This is easier then you might think. Although the state publishes report annually but the whole data is available online and the best site to do a free money search is the has the largest database and requires only little information and can give you the results back in no time so hurry up visit and do a free money search for yourself who knows what you may get.

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