Is WV Unclaimed Property Legit? Understanding Unclaimed Property in West Virginia

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What is Unclaimed Property?

Unclaimed property refers to various assets such as checks, stocks, checking and savings accounts, or contents of safe deposit boxes that have been abandoned or forgotten. The West Virginia State Treasurer’s Office is responsible for reuniting residents with their lost or unclaimed assets. By law, businesses must turn over unclaimed assets to the State Treasurer.

How to Search and Claim Your Property

You can search for unclaimed property by visiting the official West Virginia database online or by calling 1-800-642-8687. The West Virginia State Treasurer’s Office updates its database of unclaimed property regularly and encourages residents to check for any assets that may belong to them.

Steps to Claim Property

  1. Search the West Virginia unclaimed property database or call to inquire.
  2. For electronic submissions, compile the required information using the state’s Manual Online Reporting tool.
  3. If you initiate a claim, the process can take up to 90 days. A processor may contact you for additional information or documentation.
  4. After verification, the State Treasurer’s Office may issue a check if your claim is approved.

Avoiding Scams

Be aware of scam attempts through unsolicited letters claiming to be from unclaimed property organizations. Valid searches can be conducted for free on websites like Missingmoney.com and Unclaimed.org. Remember, West Virginia requires electronic reporting of unclaimed property, so always use official sources and follow the state’s guidelines.

Unclaimed Property Statistics

  • The West Virginia State Treasurer’s Office oversees around 2.25 to over 3 million accounts of unclaimed property.
  • Roughly half of the total unclaimed assets have been returned to rightful owners since Treasurer Perdue took office, with over $191 million reunited.
  • Significant amounts of unclaimed property, exceeding $150 million, still remain with the state, waiting to be claimed.

Remember, there’s no rush to claim your property—it is held until the rightful owner comes forward. Check online, call, or email the State Treasurer’s Office if you suspect you have unclaimed assets. They are committed to assisting West Virginians with the claim process.

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