A court may classify unclaimed property in Arkansas as abandoned, lost or mislaid. These classifications have their origins in common law and can be difficult to interpret under modern legal systems. Legal documents may refer to the common law doctrine that ensures property is not left ownerless as escheat. Arkansas property owners usually have a superior claim to escheat than a trespasser who discovers the property.

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

There are general types of state of Arkansas escheat:

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 Arkansas escheat

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

I recommend: Conduct a national search at MissingMoney.com by first and last name, and state. The Arkansas Unclaimed Property Division keeps a database of unclaimed property that is searchable by last name.

Participate in an auction for state of Arkansas unclaimed property

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

I recommend: Bid4assets.com offers auctions on a variety of property that has been seized or forfeited to the U.S. Marshal’s Service. SeizedLuxuryHomes.com allows you to search for seized homes by zip code. You may bid on these homes at local or online auctions.

Search for Arkansas unclaimed properties in your city

Most cities in Arkansas 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 Little Rock Vehicle Storage Facility keeps abandoned and unclaimed vehicles, and conducts weekly auctions. The City of Fayetteville stages periodic auctions of unclaimed property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Unclaimed property in Arkansas that the owner deliberately hides or conceals may be a treasure trove instead of mislaid property. The property must remain concealed long enough for the owner to be dead or undiscoverable. A treasure trove may belong to the finder or the property owner.