Michigan State Holds Your Unclaimed Property
The end of the tax season is closing in on us and some of us may have money or property we didn't know or forgot about AND THE STATE MAY HAVE IT!You may have had a relative die and you are the heir to an estate you didn't know they had. You may have paid off a loan early and never received over payment returns. You may have even had a savings account as a child that you forgot about and it has been collecting interest all this time.
In Michigan, all things relating to unclaimed property are handled by the Unclaimed Property Division of the Michigan Department of Treasury. According to the Michigan State Treasury Department:
Individuals should know that Michigan property is generally presumed abandoned if it has remained unclaimed by the owner for more than five years after it became payable or distributable. However, this time limit varies depending on the type of property involved. Once abandoned property is turned over to the state by a business, an individual then has the burden of reclaiming it from the state.
If you have or think you may have unclaimed property or money, you can search the states web site here.