Making the most of unclaimed property in West Virginia will require you to determine the holder of the unclaimed property. West Virginia 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.

West Virginia govermment unclaimed property 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 unclaimed property. WV 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. West Virginia 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. West Virginia unclaimed property that is confiscated by law enforcement. This is frequently the result of a drug or tax seizure.

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Find agencies that handle state of West Virginia 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 West Virginia Treasury provides a search of unclaimed property by last name or company name. West Virginia Unclaimed Property List provides information on searching for unclaimed property in West Virginia and also has a current list of unclaimed funds.

Learn more about the laws regarding West Virginia unclaimed property

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: The West Virginia Code addresses unclaimed property in Article 8 of Chapter 36. CashUnclaimed.com provides specific information on the Unclaimed Property Act of West Virginia and also provides an unclaimed property search capability.

Buy a vehicle in a WV unclaimed property auction

Look at the various auctions that occur regularly throughout West Virginia 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 Auction House provides a list of upcoming auctions in West Virginia. Auctionzip.com allows you to search for vehicle auctions in West Virginia by zip code.

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• •  The process of turning over unclaimed property in West Virginia to the state is called escheatment and legal documents may therefore refer to the property as West Virginia escheat. Businesses usually encounter WV 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 West Virginia 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.

There are specific forms and procedures to follow when claiming unclaimed property in WV. Generally, the state serves as the custodian for abandoned property in West Virginia 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 West Virginia government 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.

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Find agencies that handle state of West Virginia unclaimed property

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

I recommend: MissingMoney.com allows you to search for unclaimed property by name and allows you to select city and state. The West Virginia Office of State Treasurer keeps a database of unclaimed property that is searchable by name and company name.

Participate in a West Virginia unclaimed property auction

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

I recommend: PropertyRoom.com auctions property seized by law enforcement agencies across the country. Carsfrom500.com allows you to search for government auctions in your area. You can specify zip code and a search radius.

Search for West Virginia unclaimed property in your city

Most cities in West Virginia have a department that attempts to reunite unclaimed property with its owner. This department can answer specific questions regarding West Virginia escheat.

I recommend: The Jefferson County Commission maintains a list of accounts payable that have not been claimed. Unclaimed Funds Processing provides a list of unclaimed property owners in West Virginia including the city (when known).

Tips & Tactics

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• •  The process of turning over unclaimed property in West Virginia to the state is called escheatment. In business, this is most commonly an unclaimed pay check and each company must file a report for unclaimed property. West Virginia companies must also make a good faith effort to find the owner.
• •  Unclaimed property in West Virginia that the owner deliberately hides or conceals may be a treasure trove instead of unclaimed property. WV 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.

Unclaimed property in West Virginia 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 WV 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 unclaimed property in West Virginia 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.
   

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Learn about the laws regarding the owners of West Virginia unclaimed property

Laws on WV escheat 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 West Virginia Department of the Treasury to locate your own property.

I recommend: The West Virginia United Federal Credit Union provides the legal obligations of the credit union to return unclaimed property, such as inactive credit union accounts. Section 150-5-4.2a of the Rules for the Government of Sewer Utilities for the City of Summersville addresses the steps a customer must take to retrieve an unclaimed security deposit.

Examine laws on holders of unclaimed property in WV

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: The West Virginia State Treasurer's Office provides the reporting requirements for holders of unclaimed property in West Virginia. Chapter 36 of the West Virginia code from the West Virginia Legislature addresses unclaimed property held by law enforcement agencies.

Review state of West Virginia unclaimed 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 Town of West Union provides regulations on the rights and obligations of finders of abandoned vehicles. The Discover Network outlines the obligations of unclaimed property finders in West Virginia.

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 West Virginia escheat. 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 West Virginia basics include the fact that a financial asset that has been abandoned for a certain amount of time may be considered unclaimed property. Businesses, such as financial institutions, may hold unclaimed property for a specified period of time before turning it over to the state of West Virginia. The period of time that a business may retain this property is known as the abandonment period.

The state must attempt to locate the owners of unclaimed property of WV. These methods are specified by law and typically include mailing letters to the last known address of the owner and taking out advertisements in local newspapers. There are generally three types of information sources on unclaimed property in West Virginia:

1. Government websites. These sources of unclaimed property of West Virginia have official information on recovering unclaimed property in West Virginia.
2. Commercial websites. These sources may be commercial sites that sell unclaimed property services and also provide a summary of West Virginia unclaimed property.
3. Websites of local governments. Counties in West Virginia may attempt to locate the owners of unclaimed property on their own before handing it over to the state.
   

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Find state agencies that deal with WV escheat

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

I recommend: The West Virginia State Treasurer is responsible for returning unclaimed property in West Virginia to its rightful owner. Justia.com provides Chapter 36, Article 8 of the West Virginia Code, which addresses unclaimed property in West Virginia.

Learn about unclaimed property in WV from private sources

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

I recommend: The Insurance Journal has a recent article on unclaimed property in West Virginia and also provides a link to the unclaimed property database in West Virginia. BankingQuestions.com answers a specific question on recovering unclaimed property in West Virginia.

Look for state of West Virginia unclaimed property 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 West Virginia State Archives provides the documentation needed to apply for an unclaimed Civil War medal. The City of Summersville provides the rules for recovering unclaimed utility deposits in West Virginia.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  A treasure trove is a specific type of West Virginia government unclaimed property in which currency is intentionally hidden by the owner. In order to be a treasure trove, the property must have been hidden sufficiently long ago that the owner is assumed to be dead or cannot be located. American common law generally holds that a treasure trove belongs to the finder.