Virginia Unclaimed Money - Millions In Lost Assets

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The Commonwealth of Virginia is waiting for citizens to come transmit and claim their lost money. The state currently sits atop a heap of Va unclaimed cash totaling in the tens of millions of dollars. More than million was returned to Virginians in 2005, but that's only a fraction of what is available for claim.

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Virginia, like every other state, continues to take in more unclaimed money than it doles out, primarily because most habitancy plainly are unaware of these funds, and those that are aware, don't know the proper way to search them. There is a right way and a wrong way to search, and sadly most habitancy haven't been taught the right way.

According to the Unclaimed asset division of the Va division of the Treasury, Virginia unclaimed money comes from a number of sources, which contain (but are not dinky to): "savings and checking accounts, wages or commissions, underlying shares, dividends, buyer deposits, prestige balances, gift certificates, prestige memos, refunds".

A someone doesn't have to currently reside in Virginia to be owed unclaimed funds, especially since most accounts must be dormant for 1 to 3 years before they're turned over to the state, and laws governing other types don't want that they be turned over for 7, 10, even 15 years! Leaving the state doesn't mean you've forfeited the money by any means.

In expanding to habitancy who've moved out of state, others may have never lived in Virginia. For example, some folks work for associates that have their headquarters in Va. Additionally, assurance associates are often based face of the state of the insured person. For these reasons, things like stocks, premium overpayments, and refunds might exist as unclaimed cash in Virginia, even if the rightful owner has never even visited the state!

People who live in Virginia should also search in other states where there's a occasion they're due a claim, for the same reasons that habitancy who don't live in Va should search the Commonwealth's records.

There are a number of roadblocks that often preclude habitancy from tracking down their missing money, but they mostly boil down to being uninformed about the best way to search. Not only do most habitancy get in their own way by searching only one state, regularly the one they live in, but they also tend to search once and call it quits.

As was mentioned earlier, each type of Virginia unclaimed property, and unclaimed asset in all other states, have their own unique "dormancy periods" (years that must pass before the funds are turned over to the state to hold until you claim them). In expanding to some asset types having long dormancy periods, states don't modernize their searchable databases in real time, which means if the state is retention your funds, you may not find a description when searching, if they haven't added it to their system.

If a someone searches their name on Monday, but the Virginia division of Unclaimed asset didn't get colse to to adding the description of their funds until Tuesday, or the following week or month, the search might return a false negative.

These are just a few of the issues that often stand in the way of habitancy trying to find Va unclaimed money for the first time, which is why it is imperative that you find someone with taste in this field to guide you through the process to find all possible claims.

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