Unclaimed Money Alabama: How to Find Unclaimed Money in Alabama
October 11, 2022
Unclaimed money in Alabama refers to money owed by a business, government agencies, or other sources that are uncollected.
By extension, according to the United States government, unclaimed money is classified under unclaimed property, which may include cash, liquidatable legal tender, security deposits, and safe deposit box contents.
In Alabama, the Alabama State Treasury is responsible for the custody of unclaimed money and properties in general, and it makes significant efforts in reuniting such unclaimed properties with their rightful owners.
Every year, unclaimed monetary assets are turned over to the Unclaimed Property Division of the Alabama State Treasury by financial institutions and businesses that lose contact with the owners.
How to Find Alabama Unclaimed Property
If there is money, assets, or other Alabama unclaimed property that is owed to you, you can find it both online and online.
In the following articles, we have detailed how to find state of Alabama unclaimed property, so you can use any of the following resources to find unclaimed money Alabama assets.
You can also perform an online search to find unclaimed money in Alabama; public records websites, such as Backgroundcheck.co, provide access to public data, including unclaimed property.
You can search for money that is owed to you and your family members with this website, and claim back what is owed to you.
Who Can Claim State of Alabama Unclaimed Money?
Alabama's Unclaimed Property Law is an enactment of the Uniform Disposition of Unclaimed Property Act of 2004 (Article 2A), and it provides for who can claim unclaimed money. According to the Act, the persons who may make such claims are the 'apparent owner' or 'owner' of the unclaimed money.
In addition, section 35-12-71 of the Act defines the terms— 'apparent owner' and 'owner. The person whose name appears on the records of the holder (institution owing the unclaimed property) as the individual entitled to the property is the apparent owner.
The section describes an owner as someone with legal or equitable interest in an unclaimed property or the person's legal representative.
An owner may also be a depositor in the case of a deposit, a beneficiary in the case of a trust other than a deposit in trust, and a creditor, claimant, or payee in the case of other types of unclaimed property.
From the definition of an 'owner' given by the Act, it can be deduced that a rightful heir to an unclaimed monetary sum can claim it as well.
How Do I Find Unclaimed Money in Alabama?
Finding unclaimed money is the same as finding an Alabama unclaimed property, and it is quite straightforward. You can do it yourself via the online avenue provided by the Alabama government. The entire process is made up of four major steps which are:
1. Search For Property 2. Initiate A Claim 3. Complete Your Claim 4. Track Your Claim's Progress
Search for Alabama Unclaimed Property
The first step entails visiting the Alabama State Treasury Unclaimed Property Division website. Type your name into the "NAME/BUSINESS NAME" field and click on search.
You can also fill in the other available fields (CITY and ZIP CODE) in order to streamline your search.
You are to properly scrutinize the search results to ascertain which property belongs to you.
Once you have done that, you can check the "CLAIM" button and click on "CONTINUE TO FILE CLAIM" to begin the claims process.
Initiate a Claim
Upon selecting the property, you are to review it properly before clicking on "FILE CLAIM" to continue with the process.
You will then be required to complete your information as the claimant. The information requested here will include your current mailing address for the purpose of mailing the funds.
You will also select from the available options under the field labeled "RELATIONSHIP TO OWNER."
If you are the owner of the property, you are to select 'owner', but if you are an heir to the property's owner, you are to select either 'heir' or 'representative,' depending on the applicable situation.
This section allows you to provide the appropriate details necessary to claim the money.
The next part involves you previewing and verifying the information you have supplied.
Once you are done with this, you are to agree to the terms and click on "SUBMIT" to officially create your claim and generate your claim number.
Complete Your Claim
An email will be sent to you, which will help you determine the specific requirements for your claim.
The items required are usually listed on the claim form attachment.
In order to complete your claim, you are required to provide a minimum of a completed and signed claim form, a copy of photo identification, and a social security number.
You are to submit your claim form and any other additional documentation by mailing it to this address:
RSA Union Building 100 North Union Street, Suite 636 Montgomery, AL 36104
Track Your Claim's Progress
You can enter your Alabama unclaimed money claim number through the status page at any time to receive updates on the current status of your claim.
The claim number can be found on the claim form or on the email received in the process of completing your claim.
Unclaimed money Alabama is commonly found in bank accounts, insurance policies, unpaid wages, and tax refunds.
The institutions which owe these funds are known as 'holders' and are required by law to surrender such unclaimed sums to the government to ensure their fair repayment to the rightful owners.
Therefore, it behooves the owners of these funds to take the necessary steps to get back their Alabama unclaimed property.
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