(Part 2 of 2)

The reasons unclaimed funds are often difficult to locate are numerous, but among the more common are the lack of knowledge of the searcher on which websites to use and how often they should search.

There are a number of different types of property that can become abandoned and deemed "unclaimed", but the state treasury's web site names the following as some of the more common: Dividends, Paid-up Life Insurance Policies, Money Orders, Demutualization Proceeds, Deposits, Stocks, Certificates of Deposit, Mutual Funds, Bonds, Refunds, Gift Certificates, Payroll, Wages, Commissions, Salary, Death Benefits, Uncashed Checks, Insurance Payments. Each type of property can only be considered "unclaimed" (and passed along to the state) after it has seen no activity for a specified period of time, which is unique among each type. These dormancy periods are usually between 1 and 5 years in New Hampshire, depending on the property type.

Due to the fact that each account type has its own dormancy period, a person might search for cash owed to them on a particular day, when their property hasn't been turned over to the state, so the state will not have a record of it. Many times, people give up after that, not knowing that their funds might be turned over to the state the following year, or even 5 years down the road. Beyond that, the the state's own records have to be manually updated by a human, so the accuracy of the records is questionable, because there is not someone adding listings in real time.

All of those issues with when a property actually gets listed in the the state's own records will not matter if a resident doesn't have any idea where to search. A lot of people just search any website that has a search box, but very few of these websites have any accurate listings. Most of those so called "databases" are anything but. Choosing an unclaimed money web site to run your searches from is key. Equally important is studying the search methods used by professionals in the forgotten funds field, and utilizing them in your own searches.

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