DOVER, Del.- Each year, Delaware balances its budget on more than half a billion dollars in unclaimed property through money found in uncashed checks, dormant bank accounts, and even unspent gift card balances.
The state assumes custody of the funds after at least five years of inactivity, but the money can be claimed and returned to the person it belongs to.
"We did pay out more than $100 million in claims," said State Escheator Brenda Mayrack, who runs the state's unclaimed property program.
In order to find out if someone is owed something like an old, uncashed paycheck, a person can visit the state's website that catalogs its collection of unclaimed property. All 50 states have unclaimed property programs.
Unclaimed property can be searched by a person's name or business and is typically listed as being less or more than $50. Delaware's incorporation laws also give it a stake in unclaimed property involving companies or groups that are incorporated in the state but possibly headquartered elsewhere.
In order to prevent fraud, Delaware asks for significant documentation that someone is the person whom the property is owed and they have a claim for the property.
To check Delaware's unclaimed property website, click here. Maryland and Virginia also have similar websites as well.
