What Can Be Considered Unclaimed Money in Alabama The amounts don’t have to be large-usually less than $100-but there’s no reason to give up on what’s rightfully yours. Some people never find out that they have money under their name. Owners change their last name, physical address, or contact details, which is why the institutions holding their funds can’t reach them.Bank accounts become inactive, and people forget to withdraw the remaining money or provide their forwarding address.Someone passes away and doesn’t provide the executors with their heirs’ contact details.People quit their job without providing their current address and forget to pick up their last paycheck.The most common reasons are listed below: Why Don’t People Claim Their Money in Alabama?įinancial organizations in Alabama do their best to contact the owners of unclaimed money, but this doesn’t always give the best results. If the properties remain unclaimed, the state takes control of them and keeps them until the rightful owner comes forth. The person to whom unclaimed money belongs can reclaim it during a three-year dormancy period-the time between reporting the uncollected funds and proclaiming them abandoned. If a company doesn’t manage to locate the owner of uncollected funds, it needs to report them to the state. Unclaimed money represents the funds that weren’t collected by their owners from banks or other institutions within a certain period. In case you want to check whether you are entitled to a part of the treasure Alabama holds, our article will teach you how to do it with no fuss. This might seem like a big move, but the number of owners unaware of their uncollected money keeps growing. The Treasurer’s office has returned over $146 million in the past five years, thanks to its initiatives and programs. According to News 19, the Alabama State Treasurer’s is currently holding more than one billion dollars in unclaimed property. The state of Alabama might be hiding a pleasant surprise for all the residents who have unclaimed money under their name. Find Unclaimed Money Locating Unclaimed Money in Alabama the Easy Way A Guide to Finding Unclaimed Money in Alabama
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