Making the most of unclaimed property in Ohio will require you to determine the holder of the property. Cities and counties may serve as custodians of unclaimed property until certain criteria are met. At that time, custodianship of the property is then turned over to the state. This allows claimants to search for their property in a central location.

Unclaimed property in Ohio can be an inexpensive way to obtain business equipment as companies frequently lose property through misfortune or carelessness. The appropriate agency will require specific forms and procedures in order to approve your claim on the property. OH unclaimed property generally falls into one of the following categories:

1. Liquid assets such as uncashed checks, a bank account or the contents of a safe deposit box.
2. Ohio abandoned property that the original owner is unlikely to claim. This is commonly a wrecked vehicle or real estate with delinquent taxes but may also include a treasure trove. Property owners usually have a superior claim to a treasure trove than a trespasser who discovers the property.
3. Ohio state unclaimed property that is confiscated by law enforcement. This is frequently the result of a drug or tax seizure.
   

Action Steps
The best contacts and resources to help you get it done

Find agencies that handle state of Ohio unclaimed property

Start at the state level if you are looking for property that belongs to a specific person and work down.

I recommend: The Ohio Department of Commerce maintains a database of unclaimed property in the state that you can search by name. The Butler County Treasurer has a current list of unclaimed funds whose owner's last known address was in Butler County.

Learn more about the laws regarding Ohio unclaimed properties

Each state has laws regarding the disposition of unclaimed property. These laws should specify the conditions that allow the state to assume custodianship of the property and any conditions that allow the property to revert to the state.

I recommend: LAWriter provides the text for Chapter 169 of the Ohio code which deals with unclaimed funds. Bailey Cavalieri practices unclaimed property law in Ohio and also publishes a treatsie each year that summarizes unclaimed property laws for gift cards.

Buy a vehicle in an Ohio state treasury unclaimed property auction

Look at the various auctions that occur regularly throughout Ohio if you are interested in bidding on a car. Vehicles are typically the mainstays of unclaimed property auctions and consist of abandoned vehicles, vehicles seized by law enforcement and surplus vehicles.

I recommend: The Police Department for the city of Cincinnati holds regularly scheduled auctions for unclaimed and abandoned vehicles. GovDeals.com handles the auction of abandoned vehicles for Franklin County.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in Ohio to the state is called escheatment and legal documents may therefore refer to the property as escheat. Businesses usually encounter Ohio escheat in the form of an unclaimed pay check and are generally required to make a good faith effort to find the owner.

A court may classify unclaimed property in Ohio as abandoned, lost or mislaid. These classifications have their origins in common law and can therefore be difficult to interpret under modern legal systems. Property that the original owner fails to claim after a specified number of years generally belongs to the finder. However, a property owner usually has a superior claim to property that a trespasser discovers.

There are specific forms and procedures to follow when claiming Ohio unclaimed property. Generally, the state serves as the custodian for Ohio escheat until the appropriate agencies review and approve the finder’s claim. Companies frequently lose property through misfortune or carelessness. Unclaimed property can be an inexpensive way to obtain equipment for your business.

There are general types of Ohio state unclaimed property:

1. Liquid assets such as a dormant bank account, safe deposit contents, unclaimed deposits or refunds, uncashed checks and unused insurance benefits;

2. Abandoned property the original owner is unlikely to return to claim. Certain property such as wrecked cars, ships or aircraft may belong to the state;

3. Property confiscated by law enforcement or repossessed by a loan company. These items are frequently auctioned off to the public.

Action Steps
The best contacts and resources to help you get it done

Find agencies that handle state of Ohio unclaimed property

Beware of sites that charge you a fee to help you find contact information for the Ohio unclaimed property division. This information should be available from your state government at no charge.

I recommend: UnclaimedMoney.us.com allows you to search for unclaimed property by name and also allows you to select city and state. The Ohio Department of Commerce keeps a database of Ohio state treasury unclaimed property that is searchable by first and last name.

Participate in an Ohio unclaimed property auction

Most states have their own auctions to allow prospective buyers to bid on unclaimed or otherwise abandoned property.

I recommend: Policeauctions.com has auctions on a range of seized property and offers free sign-up. Carsfrom500.com allows you to search for government auctions in your area. You can specify zip code and a search radius.

Search for Ohio unclaimed properties in your community

Some communities in Ohio have a department that attempts to reunite unclaimed property with its owner. This department can answer specific questions regarding lost or abandoned property.

I recommend: The Auditor's Office for Franklin County maintains a list of unclaimed funds and wage accounts with instructions for filing a claim. The Cuyahoga County Treasurer displays an unclaimed funds list at the County Administration Building, local media outlets and other public locations.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in Ohio to the state is called escheatment. In business, this is most commonly an unclaimed pay check and each company must file an unclaimed property report. The company must also make a good faith effort to find the owner.

Unclaimed property in Ohio laws and regulations are based partially on the common law of property. This generally means that unclaimed property is property which has left the rightful owner’s possession without directly entering another owner’s possession.

The disposition of Ohio state unclaimed property depends on the specific circumstances under which it is found. There are three types of unclaimed property:

1. Lost property is found in a location where the owner did not intend to leave it and is not likely to find it. The finder of Ohio escheat is entitled to possession against everyone but the true owner. One exception to this rule occurs when a trespasser finds lost property while on private land.
2. Mislaid property is found in a location where the owner did intend to leave it and simply forgot to pick it up. Mislaid property must be returned to the owner.
3. Ohio abandoned property is found in a place where the owner intended to leave it. However, the condition of the property is such that it is unlikely that the true owner intends to reclaim it. Abandoned property belongs to the finder.
   

Action Steps
The best contacts and resources to help you get it done

Learn about the laws regarding the owners of Ohio unclaimed property

Laws on unclaimed property are frequently used to determine the circumstances under which property must be returned to the owner. Unclaimed property laws and regulations are a resource for owners who wish to locate their unclaimed property. Contact the Ohio Department of Commerce to locate your own Ohio state treasury unclaimed property.

I recommend: The Ohio Department of Natural Resources has the laws on unclaimed property with respect to evidence and property management. The Franklin County Auditor provides specific instructions for an owner who wishes to reclaim property under Ohio property law.

Examine laws on holders of Ohio unclaimed properties

Unclaimed property laws in Ohio describe the requirements for holders of unclaimed property to return the property to the rightful owner. They can determine when ownership of the unclaimed property passes to the holder.

I recommend: Chapter 169 of the Ohio Revised Code provided by LAWriter Ohio Laws and Rules specifies the laws for an unclaimed property holder in Ohio. The Ohio Chamber of Commerce discusses the laws on auditing requirements for holders of unclaimed property in Ohio.

Review Ohio unclaimed or abandoned property law for finders

Unclaimed property laws for finders address procedures for how finders charge owners for locating, delivering, recovering or assisting in the recovery of their unclaimed property. Unclaimed property laws for finders may also cover the rights of the state to recover compensation for unclaimed property.

I recommend: The Ohio Department of Commerce provides specific information on the rules regarding finders of unclaimed property in Ohio. The Cuyahoga County Treasurer's Office offers advice on dealing with unclaimed property finders under Ohio property law.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The Uniform Unclaimed Property Act is a key piece of federal legislation that affects unclaimed properties of Ohio. The Act seeks to address the problems of unclaimed property that arise from its origins in English common law. The National Conference of Commissioners on Uniform State Laws first drafted the Uniform Unclaimed Property Act in 1981 and last revised it in 1995.