Real estate is specifically exempted from the unclaimed property law. In Wisconsin, unclaimed property is any financial asset where there has been no owner activity for a period of a year or more AND the asset’s holder is unable to contact the owner. The definition of unclaimed property varies from state to state.
However, because the search sites for each state are relatively simple to use, the fact that you have to search for property and claim it on multiple different sites may be an inconvenience, but it is not a barrier to running your unclaimed property search. While many states do use the same service to run their unclaimed property databases, which can actually make it possible to search multiple databases with a single search, this has not extended to all states. While the best way to handle abandoned property might be to consolidate it into a single nation-wide database, that has not yet occurred. In addition, there are some types of property, usually property held or controlled by the federal government, which do not revert to state ownership. Generally, only property where your last known address was in Wisconsin will be placed in Wisconsin’s custody. This is important because each state only becomes the custodian of property that escheats to that state. Once you have completed your search at the Wisconsin sight, you will want to expand to other databases. If you have addition questions about Wisconsin’s unclaimed property process or program, you can visit its FAQ page Once the property is designated as unclaimed, Wisconsin takes several steps to reunite property with its owners by: advertising unclaimed property and its owner matching the names of unclaimed property owners with information from the public record using tax records to try to locate unclaimed property owners and maintaining an online database where people can search for unclaimed property. Wisconsin has one of the shorter statutory time triggers, with property being classified as unclaimed after there has been no activity and the holder has lost contact with the owner for a year. The State of Wisconsin Department of Revenue serves as the custodian for unclaimed property in the state. (9) Should I use a finder service to help me locate abandoned property? (7) What state-level resources are available in Wisconsin to help me find my abandoned property? (6) How do I make an abandoned property claim in Wisconsin? (5) What steps should I include in my unclaimed property search? (4) What is the time period for unclaimed property in Wisconsin? (3) How does Wisconsin determine what property is defined as unclaimed or abandoned? (2) Is abandoned property the same as unclaimed property/money? (1) What is unclaimed property and unclaimed money? In this handy guide to searching for abandoned property, we will cover the most frequently asked questions about abandoned/unclaimed property/money searches, including:
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Whether this is your first attempt to find unclaimed property or you consider yourself a seasoned pro, there are probably some things you do not know about how to optimize your unclaimed money search. Knowing that you have to search multiple sites can be overwhelming, but this guide will help you understand the whole unclaimed property search process. You will want to look at some databases managed by the federal government or held at the national level in order to find those assets. In addition, some types of property never escheat to the state. You will want to include other states not just states where you have lived, but any states where you may have assets. To increase your chances of finding property that you have abandoned, you need to expand your search. Instead, think of it as the start of your search. However, we urge you not to stop your unclaimed property search at your state’s page. Most types of property will be placed in the custody of the state of the owner’s last known residence.
territory has its own unclaimed property page, where you can search for unclaimed property that has escheated to that state. Wherever you live, we always suggest starting your unclaimed property search at your state’s unclaimed property page.
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