Unclaimed property in Louisiana 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 Louisiana 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 state of Louisiana unclaimed property 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. 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 Louisiana 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 also are a resource for owners who wish to locate their unclaimed property. Contact the Louisiana Department of the Treasury to locate your own property.

I recommend: Title 9, Chapter 161 of the Revised Statutes in Louisiana from the Louisiana State Legislature provides the specific laws on the state's obligation to locate unclaimed property owners. MissingMoney.com allows owners to search for unclaimed property in Louisiana by first name, last name and state.

Examine laws on holders of unclaimed property of Louisiana

Unclaimed property laws 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: Justia.com shows the laws in Louisiana which cover holders of unclaimed property in Louisiana. The Discover Network offers an overview of the reporting regulations for unclaimed property holders in Louisiana.

Review Louisiana 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 Louisiana Department of the Treasury provides an excerpt of the laws in Louisiana that apply to finders of Louisiana treasury unclaimed property. The Louisiana Department of Revenue specifies that under Louisiana's unclaimed property law, the state does not charge a finder's fee for returning unclaimed property in Louisiana.

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 property for Louisiana. 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.

A court may classify unclaimed property in Louisiana 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 Louisiana unclaimed property. Generally, the state serves as the custodian of unclaimed property for Louisiana 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 Louisiana 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 unclaimed property of Louisiana

Beware of sites that charge you a fee to help you find contact information for the Louisiana 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 by state. The Louisiana state treasurer keeps a database of Louisiana treasury unclaimed property that is searchable by name, business name, address and city.

Participate in a state of Louisiana unclaimed property auction

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

I recommend: JustStolen.net provides a service that allows police departments to auction unclaimed evidence. SeizedLuxuryHomes.com allows you to search for seized homes by zip code. You may bid on these homes at local or online auctions.

Conduct a Louisiana unclaimed property search in your city

Most cities in Louisiana 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 Shreveport Police Department Property Management Bureau keeps stolen or seized property for 150 days before selling or disposing of it. The St. Charles Parish Sheriff's Office holds regular public auctions of property that is not claimed after a period of time.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in Louisiana 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.

Anyone who wishes to stay current on unclaimed property in Louisiana news and trends should identify the key websites that track unclaimed property in Louisiana and check them periodically for updates. These sites feature current property databases, which can be searched by personal or business name among other criteria. Louisiana also conducts periodic auctions of unclaimed property that may be announced in major news outlets.

Businesses are required to report state of LA unclaimed property, such as abandoned safety deposit boxes or dormant bank accounts, after a specified period of inactivity. Therefore, it is especially important for business owners to be aware of the current reporting regulations. Sources of news information on Louisiana unclaimed property include the following:

1. Blogs and forums on unclaimed property for Louisiana. These sources provide first-hand accounts of people who have searched for unclaimed property.
2. Independent newspapers and magazines on unclaimed property of Louisiana. These sources are the most likely to provide unbiased news and opinions on unclaimed property.
3. Government websites for Louisiana state unclaimed property. These sites are the best sources of official news and trends, such as current laws on unclaimed property.
   

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

Read informal sources to get inside news on Louisiana escheatment

Blogs and forums contain news on Louisiana unclaimed property that may not be found anywhere else. This information may include opinions and comments on the unclaimed property system in Louisiana. Blogs and forums also have accounts of personal experiences with obtaining unclaimed property.

I recommend: WWL-TV has a blog on Northshore events that includes recent figures on unclaimed property in Louisiana. Best of New Orleans Blog has a recent blog with news about the unclaimed property of famous people in Louisiana.

Study sources of unbiased news and trends for state of Louisiana unclaimed property

Journalists frequently report news on Louisiana unclaimed property in online newspapers and magazines. News coverage may include articles on how to claim money in Louisiana or about owners that recovered large sums of money. News stories also cover interviews of people who have recovered unclaimed property in Louisiana.

I recommend: WDSU-TV has a recent news article on the recovery of unclaimed property in Louisiana. WVLA-TV provides a story on unclaimed property in Louisiana with instructions on filing a claim.

Review official Louisiana unclaimed property websites to get government news and information

Government websites are the best sources of official news on unclaimed property in Louisiana. These sites provide information like current property databases and recent changes in the laws regarding unclaimed property in Louisiana. County and city websites also may have their own unclaimed property listings and procedures for claiming unclaimed property.

I recommend: The Louisiana Department of the Treasury has official press releases on unclaimed property in Louisiana. The St. Charles Parish Sheriff's Office has current official news on unclaimed property auctions and procedures for filing claims.

Unclaimed property in Louisiana comes in many forms, from pay roll checks to government bonds, to abandoned cars, boats, RVs and more. The Louisiana Department of the Treasury even has a separate division, the Division of Unclaimed Property, which handles the obtaining and distribution of these items.

Take a moment to learn about a few of the terms commonly associated with unclaimed property in Louisiana. Here are some of those terms along with some additional resources for further information.

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

Holding period

The holding period refers to the time period in which the holder in possession of the unclaimed property must report it to the appropriate authority. In Louisiana, this time period stretches from one year to 15 years depending on the nature of the property.

I recommend: Visit the website for the Louisiana Treasury Department for further information on the holding period required for certain unclaimed property items.

Prior notice to owner

The prior notice to owner refers to a document that must be sent by the holder to the person they believe owns the unclaimed property. This notice must be sent at least four months before filing the yearly report with the Louisiana Unclaimed Property Division of the Treasury Department.

I recommend: Visit Toolkit.com for additional information on unclaimed property within the state of Louisiana.

Positive proof of ownership

Positive proof of ownership refers to a verification method practiced within the state of Louisiana. Depending on the type of unclaimed property, the party making the claim through the Unclaimed Property Division must provide a social security number, matching address, tax return or other document in order to receive the property.

I recommend: Visit Real Estate Zing for further information on what constitutes positive proof of ownership according to Louisiana statutes.

Abandoned property report

The abandoned property report refers to a report that a business owner is required to file at least once per year detailing all unclaimed property in their possession worth more than $50. All known details such as potential owners of the property, contents and condition are to be included with this report. The report is filed with the Department of Unclaimed Property, which is a division of the state treasury department.

I recommend: Justia has further information on the requirements for the abandoned property report, including when it should be filed and what it must contain.

Abandoned property

Abandoned property has been left and unclaimed for a period of five years or longer according to the state of Louisiana. After the property is deemed abandoned and has remained unclaimed, the state will auction it off to the highest bidder.

I recommend: Visit the Discover Network for further information on what constitutes abandoned property within the state of Louisiana.

National Association of Unclaimed Property Administrators (NAUPA)

The National Association of Unclaimed Property Administrators is an organization that tries to collect, distribute and auction unclaimed property throughout the United States. Louisiana is a member of NAUPA, which seeks to obtain unclaimed property from the holders so that it may be properly distributed.

I recommend: Visit the Louisiana Department of Revenue for further information on NAUPA and Louisiana's involvement.