How to Claim Unclaimed Property in Michigan

Posted over 4 years ago. Applies to Michigan, 3 helpful votes

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1

How did it get there?

As required by Michigan law, properties considered abandoned and unclaimed by the bank or company entrusted with them, are turned over to the state, The Michigan Department of Treasury serves as the custodian of these assets and returns them to their owners (or the owners' heirs) when they are rightfully claimed. In Michigan, property unclaimed by an owner after five years is presumed abandoned and is turned over to the state. This time limit may vary depending on the specific type of property. The owner then has the burden of discovering the property and satisfying the state regarding ownership to recover the property.

2

How do I find out if Michigan is holding any of my money or property?

One of the easiest ways is to search the Michigan website which is found at: Unclaimed property held by the state may also be found by searching the state's website (http://www.michigan.gov/treasury/0,1607,7-121-44435-7924--,00.html) The site has instructions for searching by name.

3

What do I do if I find that Michigan is holding some of my property?

If your search turns up a claimant's name, you can follow the link to an initial inquiry form. The Treasurer is required to consider the claim within 90 days after it is filed. If you are not satisfied with the decision of the Treasurer or if your claim was not dealt with within 90 days, you have 90 days after the decision of the Treasurer or 180 days after filing the claim to institute suit in the circuit court to establish your claim against the Treasurer.

Additional Resources

To find out if other states may be holding your unclaimed property, you can search the national database established by the National Association of Unclaimed Property Administrators (NAUPA) at http://www.missingmoney.com/

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