The Alabama State Treasurer’s Office safeguards unclaimed assets for individuals and businesses. Each year, financial institutions and other companies turn over funds when they lose contact with the rightful owner. This guide explains what this property is, how to locate it, and the process for submitting a claim.
What Constitutes Unclaimed Property in Alabama?
Unclaimed property refers to financial assets where contact with the owner has been lost for a specified time. This can happen when someone moves and forgets about an account, misplaces an uncashed check, or passes away without heirs being aware of the asset. Once this dormancy period passes, the holder is legally required to transfer the property to the state for safekeeping.1LII / Legal Information Institute. Ala. Admin. Code R. 892-2-1-.01 – Purpose
These assets encompass a wide variety of financial instruments, including:
- Dormant savings and checking accounts
- Uncashed payroll, insurance, and dividend checks
- Stocks, bonds, and mutual fund shares
- Utility deposits
- Contents of abandoned safe deposit boxes
The specific dormancy periods vary. For instance, wages and utility deposits are considered dormant after one year, while savings accounts and life insurance proceeds have a three-year period.2Justia Law. Alabama Code Section 35-12-72 — Presumption of Abandonment
The Alabama State Treasurer’s Office Unclaimed Property Division acts as the custodian, not the owner, of these funds. It holds the property indefinitely until the rightful owner or their legal heir can be located and prove their claim.
How to Search for Unclaimed Property in Alabama
Alabama provides a free, centralized online portal to search for unclaimed property. You can access the official search tool directly through the Alabama State Treasurer’s website.
Enter your full name or business name into the search field. For individuals, try different variations of your name, including maiden names, previous names, and common misspellings. Searching with a last known Alabama address, city, or zip code can help narrow the results if you have a common name.
The system will display any properties matching the information provided. The results show the owner’s name, their last known address, and the entity that reported the property. If you find property that appears to be yours, select the “CLAIM” button next to the listing to begin filing.
Required Information and Documents for Filing a Claim
To file a claim, you must provide documentation to prove your identity and ownership. The Alabama State Treasurer’s Office requires a clear copy of a government-issued photo ID, such as a driver’s license or state identification card. You will also need to provide proof of your Social Security number, which can be a copy of your Social Security card or a recent tax document where the number is visible.
You must also verify your current address with a document like a recent utility bill or bank statement. If the address on the unclaimed property record is different from your current one, you must supply proof of your connection to that former address, such as an old bill. You also need to provide proof of ownership, which could be an old bank statement, an original uncashed check, or an insurance policy declaration page for the property you are claiming.
After initiating a claim online, you will be prompted to complete the official Alabama Unclaimed Property Claim Form. This form can be downloaded from the state’s website and requires you to fill out your personal information and details about the claim.
Step-by-Step Guide to Filing Your Unclaimed Property Claim
The completed and signed claim form, along with all supporting documents, must be mailed to the Alabama State Treasurer’s Unclaimed Property Division. The mailing address is provided on the claim form and the official website.
Once your claim is mailed, it enters a review process where the Unclaimed Property Division will examine the documents to verify your identity and right to the property. The review process can take several weeks.
During this period, the division may contact you if they require additional information or clarification to approve your claim.
Claiming Property for Deceased Individuals or Businesses
Claiming property for a deceased individual requires additional documentation to establish your legal authority. You must submit a certified copy of the death certificate along with the standard claim documents. If the decedent’s estate went through probate, you must also provide a copy of the Letters Testamentary or Letters of Administration that appoint you as the estate’s representative.
If the owner died without a will and the estate did not go through probate, Alabama law provides an alternative process for some claims.3Alabama State Treasury. Uniform Disposition of Unclaimed Property Act of 2004 If the property’s value is below a statutory limit, the surviving spouse, children, or parents can file a claim directly. This requires a confirmation from the probate court that no estate has been opened and a notarized affidavit signed by all beneficiaries outlining the agreed-upon division of the property.
When claiming property for a business, the claimant must prove their authority to act on its behalf. This requires submitting documents like articles of incorporation or a business license to prove the business’s existence. The person signing the claim must also provide a notarized statement confirming their authority, along with the company’s Federal Employer Identification Number (FEIN).