North Carolina's Unclaimed $1.3 Billion: How to Claim Your Share

North Carolina residents and individuals with ties to the state might have a pleasant surprise waiting for them. The state has nearly $1.3 billion in unclaimed money.

This article outlines what unclaimed property is, why it accumulates, and how you can find out if some of this money belongs to you.
 

What Is Unclaimed Property?

Unclaimed property refers to financial assets that have been abandoned or forgotten by their rightful owners.

These can include bank accounts, wages, utility deposits, insurance policy proceeds, stocks, bonds, and the contents of safe deposit boxes.

The North Carolina Department of State Treasurer’s Unclaimed Property Division is responsible for holding and returning these assets to their owners.
 

Why Does Unclaimed Property Accumulate?

Unclaimed property accumulates due to a variety of reasons.

Common causes include address changes without updating financial institutions, forgetting about old bank accounts, uncashed checks, or the owner passing away without notifying heirs about the assets.

Digital transactions and data losses during system updates also contribute to the growing amount of unclaimed property.

The Scope of Unclaimed Property in North Carolina

North Carolina currently holds nearly $1.3 billion in unclaimed property. This staggering amount represents over 22.1 million properties statewide, linked to more than 25 million owners.

In the past fiscal year, from July 1, 2022, to June 30, 2023, more than $108 million was returned to rightful owners.
 

Recent Success Stories

There have been notable success stories of returning unclaimed property in North Carolina. For instance, the Guilford County Schools recently received a symbolic check for $4,100.33 from State Treasurer Dale Folwell.

This money will support the district's efforts to improve education for its 67,000 students across 126 schools.

How to Find Out If You Are Owed Money

Anyone can check if they are owed unclaimed property by visiting the North Carolina Unclaimed Property Division’s website, NCCash.com. The process is simple:

1. Visit the Website: Go to NCCash.com.
2. Search for Your Name: Enter your name or business name into the search field.
3. Review the Results: If your name appears, follow the instructions to file a claim.
4. Submit Proof of Ownership: Provide the necessary documentation to prove property ownership.

Proof of ownership may include identification, previous addresses, and documents related to the unclaimed property.
 

Conclusion

With nearly $1.3 billion in unclaimed property, it’s worth taking a few minutes to check if any of it belongs to you.

By visiting NCCash.com and conducting a search, you might discover forgotten assets that can provide a financial boost. Don’t miss out on the opportunity to reclaim what is rightfully yours.

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