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.

Unclaimed property in Ohio basics hold that unclaimed property may be any financial asset that is abandoned for a specific period of time. Unclaimed property laws require businesses, financial institutions and government entities to report any personal property they have been holding for a certain period of time, known as the abandonment period.

The state administers Ohio state unclaimed property when the owner cannot be located and the appropriate abandonment period has expired. The state uses several methods to locate the owner, including newspaper advertisements and mailing notices to the owner's last known address. There are three general types of sources that provide additional information on unclaimed property in Ohio:

1. The state government. These sources provide official information on Ohio abandoned property and also include the state’s official property database.
2. Third parties. Commercial sites that sell unclaimed property services or independent sources may offer basic facts on unclaimed property in Ohio.
3. Local governments. Specific cities and counties normally hold unclaimed property before turning it over to the state. Each local government will have its own specific procedures for allowing owners to recover unclaimed property.
   

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

Find state agencies that deal with OH unclaimed property

The state of Ohio administrates unclaimed property that it receives from businesses and government entities throughout the state. Ohio also has specific laws that regulate unclaimed property.

I recommend: The Ohio Department of Commerce holds unclaimed property in Ohio and also offers basic information on unclaimed property. The Supreme Court of Ohio has a recent decision on unclaimed property in Ohio.

Learn about Ohio unclaimed property from private sources

There are many businesses that provide searches of unclaimed property in Ohio. While these companies may charge a fee for these services, they often provide free information about unclaimed property in Ohio.

I recommend: The Public Library of Cincinnati and Hamilton County provides a summary of the laws regarding unclaimed property in Ohio. Winnmark Business Solutions has basic information on the dormancy periods for abandoned property in Ohio.

Look for Ohio unclaimed properties in local jurisdictions

Universities, cities and counties frequently hold unclaimed property temporarily. The property will eventually be turned over to the state, reclaimed, auctioned off or otherwise disposed of.

I recommend: The Englewood Police Department provides specific information on recovering unclaimed property in its possession. The Franklin County Auditor has extensive information on unclaimed property, including a searchable database.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed properties of Ohio to the state is also called escheatment and this property may therefore be referred to as escheat. Ohio businesses frequently handle escheat in the form of an unclaimed pay check which requires the company to file an unclaimed property report. The company also must make a good faith effort to find the owner of Ohio escheat.