Millions of dollars are waiting to be claimed in Michigan. Could some of it be yours? The Michigan Department of Treasury is currently holding onto a significant amount of unclaimed money and property, and they are actively seeking rightful owners. This money originates from various sources, including dormant bank accounts, forgotten stocks, uncashed checks, and valuables left in safe deposit boxes. After a period of inactivity, these assets are transferred to the state treasury for safekeeping until claimed.
Amounts can vary significantly, from modest sums to substantial windfalls reaching thousands of dollars. It’s not uncommon for individuals to be unaware of these funds, as demonstrated by a recent discovery where someone found over $3,000 owed to them through the state’s unclaimed property website. This guide will walk you through the process of searching for and claiming unclaimed money in Michigan, ensuring you don’t miss out on what might rightfully belong to you.
Steps to Search for Unclaimed Property in Michigan
The Michigan Department of Treasury provides a user-friendly online tool to search for unclaimed property. Here’s how you can start your search:
-
Visit the Official Website: Navigate to the Michigan Department of Treasury’s Unclaimed Property website: unclaimedproperty.michigan.gov. This is your primary and safest resource for searching.
-
Initiate Your Search: Click on the “Get Started” button, typically prominently displayed on the homepage. You will be prompted to enter your name.
-
Review Search Results: After entering your name, the system will generate a list of unclaimed properties associated with your name and similar names. Carefully review the listings.
-
Expand Your Search (Nationwide Database): If you’ve lived in other states, you can broaden your search using a national database. A valuable resource is Unclaimed.org, which provides links to unclaimed property offices in every state.
How to Claim Your Unclaimed Property
Once you’ve identified property that you believe belongs to you, the claiming process is straightforward:
-
Select Property and Start Claim: Choose the specific property from the search results that you wish to claim. Initiate the claim process online by providing the requested information.
-
Provide Necessary Information: You will be asked to enter details to verify your identity and connection to the unclaimed property. This typically includes your full legal name, Social Security number, and current address.
-
Submit Supporting Documentation (If Required): In some instances, the initial information might be sufficient to approve your claim. However, for larger amounts or when further verification is needed, you may be asked to provide additional documentation. Acceptable documents can include a copy of your Social Security card, driver’s license or state-issued ID, birth certificate, or previous address verification.
-
Claim Even if Unsure: If you are uncertain whether a listed property truly belongs to you or to someone with a similar name, you can still file a claim. The Michigan Department of Treasury will conduct the necessary verification to determine rightful ownership.
-
Receive Your Funds: Upon approval of your claim and verification of your documentation, the Department of Treasury will issue a check and mail it to your provided address.
-
Claim by Phone: Alternatively, you can initiate a claim or inquire about the process by contacting the Michigan Department of Treasury’s Unclaimed Property division directly at 517-636-5320.
Is There a Fee to Reclaim Your Money?
No! It is crucial to understand that there is absolutely no charge to claim your unclaimed property from the State of Michigan. Be extremely cautious of any websites or services that request payment to help you recover unclaimed funds. These are often scams. The Michigan Department of Treasury explicitly states that they do not charge residents for claiming their rightful property. If you encounter a website asking for a fee, exit it immediately and only use the official state website.
Tracking the Status of Your Claim
After submitting your claim, you will receive a claim ID. This ID is essential for tracking the progress of your claim.
-
Save Your Claim ID: Keep your claim ID in a safe place as you will need it to check the status of your claim online.
-
Use the Online Claim Status Tool: Visit the state’s claim status search page: unclaimedproperty.michigan.gov/app/claim-status-search. Enter your claim ID to get updates.
-
Allow Processing Time: The State of Michigan advises that claim processing can take time. Some claims may require multiple stages of approval before the property is released. Regularly check your claim status using your claim ID for updates.
Don’t Leave Money on the Table
Searching for unclaimed money in Michigan is a worthwhile endeavor. It’s a free and simple process that could potentially put unexpected funds back in your pocket. Take a few minutes to search the official Michigan Unclaimed Property website – you might be surprised by what you find!
