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Abandoned Property

Abandoned property is any financial asset with no activity by its owner for an extended period of time. This includes savings accounts, checking accounts, unpaid wages or commissions, stocks, underlying shares, uncashed dividends, customer deposits or overpayments, certificates of deposit, credit balances, refunds, money orders, paid-up life insurance policies, safe deposit boxes, and uncashed benefit checks, gift certificates, etc. Abandoned Property does not pertain to land, houses or real estate of any kind.

 

In accordance with the Massachusetts Abandoned Property Act, Chapter 200A of M.G.L., property becomes abandoned when the owner cannot be contacted for a three-year period by the holder of the asset, or for fifteen years in the case of traveler's checks.

 

The Massachusetts Abandoned Property Law (M.G.L.c. 200A), requires business entities and others to review their records each year to determine whether they are in the possession of any abandoned funds, securities or other property which is reportable under Chapter 200A and to make an annual report of their findings.

 

Search for Abandoned Property

 

Source: Massachusetts Department of State Treasurer, Abandoned Property Division