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abandoned or unclaimed property

Property is generally considered abandoned or unclaimed if the existence and location of the owner is unknown for an extended period of time—often three years. Common types of unclaimed property are bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and safe deposit box contents. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming it from the state.

In West Virginia, property is deemed abandoned or unclaimed if the owner cannot be located for a specified period, typically three years. This includes various types of property such as bank accounts, stocks, bonds, uncashed checks, insurance benefits, wages, and the contents of safe deposit boxes. Businesses holding such property are required to report and turn it over to the West Virginia State Treasurer's Office after the dormancy period has passed. The Unclaimed Property Division of the Treasurer's Office is responsible for holding this property until the rightful owner or heir claims it. Individuals who believe they have unclaimed property being held by the state can search for and claim their property through the processes established by the Treasurer's Office. The burden of proof for ownership of the unclaimed property rests with the individual claiming it.

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Government

abandoned or unclaimed property

Individual & Family Legal Plan

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West-Virginia State Code

West-Virginia State Code

Government

abandoned or unclaimed property

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