Washington’s Department of revenue has received $1 billion as unclaimed property since 1995. State government has been able to refund a decent amount to the residents through its effort. In fiscal of 2008 it received $100 million of unclaimed property. The number of unclaimed property continues to grow each year. State government of Washington owes unclaimed property proceeds to one in every ten residents. The unclaimed property program does not include real estate or vehicles.
There is no time limit on claiming the unclaimed property. However, if the owners have some proceeds in safe deposit boxes they will be auctioned if not claimed from the state within 5 years. The auction money will be available for claim. In Washington either the owner or only their legal representatives can file for the claim.
Finding unclaimed property is simple on state’s website. As a potential claimant you can file your claims online and track these. And guess what? Your transactions will be protected through a secured account. If a claimant in Washington is contacted by an heir locator they cannot charge a fee which is greater than 5% for the property located. In case they are, it should be brought to the notice of state officials immediately. Plus as per the consumer protect act you should pay them only when your property is successfully recovered through their services. All heir locators are required to be registered with the state government of Washington. It is highly recommended to file your claims directly with the state and avoid any charges. State will process your claims for free.
If you are a rightful owner of any unclaimed property, why are you still waiting? File for claim and substantiate it with documents required by the state. The recovered amount could change your life. May be this was your hidden treasure.