The amount and variety of unclaimed property in Mississippi is larger than one would think. Sometimes it happens when people move and forget to reclaim their utility deposits or over-payments; other times, people may die and leave some money squirreled away in separate checking or savings accounts. Laws regarding Mississippi unclaimed property and its reversion to the state, also known as Mississippi escheat or escheat Mississippi, also mean that business owners have legal obligations if they come into possession of unclaimed property.

Unclaimed property in MS includes, stocks, checking/savings accounts, death benefits, vendor checks, over-payments, CDs, uncashed checks, unpaid wages, money orders, credit balances, refunds, dividends, commissions, insurance payments and customer deposits.

1. Know the laws regarding escheatment in Mississippi and how it affects you as a business owner.

2. Search abandoned property in Mississippi to see if you have forgotten some assets.

3. Find a Mississippi unclaimed property auction.

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

Know your obligations regarding MS unclaimed property

As a business owner, you're typically required to report and remit unclaimed property in Mississippi. If someone forgets to pick up a deposit or a check, make sure you know what your legal obligations are regarding escheatment in Mississippi.

I recommend: Go to the Mississippi State Treasurer's website for Information for Holders Reporting Unclaimed Property to the State of Mississippi. For an outside source on MS escheat reporting requirements, try the Business Owner's Toolkit.

Search Mississippi unclaimed property to ensure that your business hasn't left assets behind

Why not perform a Mississippi unclaimed property search to make sure your business doesn't have some assets floating around out there somewhere? This makes even more sense if your business has been around for a long time or it has a long string of former owners. You might be pleasantly surprised to find that one of the former owners neglected to retrieve some MS unclaimed property or even some unclaimed land in Mississippi that still belongs to your business.

I recommend: Go to the Mississippi State Treasurer's website to search for Unclaimed Property. Search also for any unclaimed or abandoned property you might have in Mississippi, surrounding states or nationwide at MissingMoney.com. Also, check out CashUnclaimed.com.

Find state of Mississippi unclaimed property at auctions

State and local governments, as well as police agencies, sometimes dispose of unclaimed properties in Mississippi through auctions. If you like auctions, it can be a good way to save your business some money.

I recommend: PropertyRoom.com auctions unclaimed and seized property from police forces in Mississippi and elsewhere. JUSTAUCTIONS.ORG and Government-Auctions-Guide.com feature unclaimed properties in MS, as well as foreclosures and seized property.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Be wary if approached by someone who wants money in exchange for Mississippi state unclaimed property; you can get the same information on your own for free.
• •  Heirfinders should be familiar with Mississippi state laws governing persons attempting to profit from locating a person who has unclaimed property being held by the state of Mississippi.