Michigan Has Millions of Dollars in Unclaimed Property — Some May Be Yours

One thing most of us can never seem to get enough of is money. It literally is what makes our world go around. Without it, we can’t get the things we need, let alone want. When we were young we had no real conception of money, except to ask our parents for it. And oftentimes I would get the response from my Mom or Dad, “money doesn't grow on trees.” I’m sure I knew that already, but they had to make their point.

As we get older we realize the value of money quite a bit more as we start making transactions of our own. As life goes on we end up paying deposits and fees for all kinds of things, like buying a car, a home, paying for school, the list goes on. And what many of us don’t realize is that from time to time account balances aren’t what they were supposed to be, or someone made an error, and there is a refund due to us. If for some reason the bank or business discovered the error and the money was never returned to you, the state of Michigan can help.

The Michigan Department of Treasury has millions of dollars in lost or forgotten assets from dormant bank accounts, uncashed checks, valuables left in safe deposit boxes and stock certificates. Because these properties were considered abandoned and unclaimed by the bank or company entrusted with them, they are turned over to the state, as required by law. The Michigan Department of Treasury is the custodian of these assets and returns them to their owners (or the owners' heirs) when they are rightfully claimed.

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So what have you got to lose? Maybe a lot, or a little to gain. When I first heard of the Michigan Unclaimed Property site a few years ago, I checked it out. And I had a refund from a bank for a condo closing a few years prior for just under a hundred dollars. Found money is spendable money. This is a free service from the state of Michigan.

Here's where to find out if you have any lost money.