Making the most of unclaimed property in Wisconsin 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.

State of WI 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 property. 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. Unclaimed property in WI 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. Wisconsin state 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 Wisconsin 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 Wisconsin State Treasurer maintains a database on unclaimed property that you can search by name or property ID. Price County describes the procedure for turning unclaimed property over to the state and also lists the owners of unclaimed property in Price County.

Learn more about the laws regarding Wisconsin 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: The Wisconsin State Legislature addresses unclaimed property in Chapter 177 of the state statute. Reinhart Boerner & Van Deuren has specific expertise in using unclaimed property to minimize taxes.

Buy a vehicle in a WI unclaimed property auction

Look at the various auctions that occur regularly throughout Wisconsin 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 City of Cedarburg maintains current information on its procedure for putting abandoned vehicles up for auction. The City of La Crosse provides a FAQ on auctioning vehicles in its impound lot on a regular basis.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in Wisconsin to the state is called escheatment and legal documents may therefore refer to the property as escheat. Businesses usually encounter 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 Wisconsin 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 Wisconsin unclaimed property. Generally, the state serves as the custodian for abandoned property in Wisconsin 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 unclaimed property in WI:

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
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Find agencies that handle state of Wisconsin unclaimed property

Beware of sites that charge you a fee to help you find contact information for the Wisconsin 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 Wisconsin State Treasurer's Office keeps a database of Wisconsin treasury unclaimed property that is searchable by name, business name or property ID.

Participate in a Wisconsin state 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. JustStolen.net provides a service that allows police departments to auction unclaimed evidence.

Conduct a Wisconsin unclaimed property search in your city

Most cities in Wisconsin 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: Check the unclaimed property page for Columbia County to see if you have a claim to any of the listed property. St. Croix County maintains a database that contains a range of financial assets that have not had any activity for at least five years.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  The process of turning over unclaimed property in Wisconsin 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.
• •  Wisconsin unclaimed properties 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.

Unclaimed property in Wisconsin 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 Wisconsin 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 Wisconsin 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.
   

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Learn about the laws regarding the owners of state of WI 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 Wisconsin State Treasurer to locate Wisconsin treasury unclaimed property.

I recommend: Title 3 of the Two Rivers Municipal Code addresses the procedures that allow an owner to retrieve unclaimed property from the police department. The Wisconsin Department of Regulation & Licensing addresses the return of unclaimed property in the form of earnest money to its owner.

Examine laws on holders of Wisconsin unclaimed properties

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: Chapter 177 of the Wisconsin Statutes provides laws regarding the holders of unclaimed property in Wisconsin. The Wisconsin Legislature offers extensive information on the rules for holders of unclaimed property in Wisconsin.

Review unclaimed property in WI 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 City of Marshfield Municipal Code addresses the return of abandoned property to the finder. The State Bar of Wisconsin discusses a case on the disposition of found property in Wisconsin.

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 Wisconsin unclaimed property. 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 Wisconsin basics define unclaimed property as property that has not been claimed for a specified period of time, known as the abandonment period. Financial institutions and other businesses routinely report unclaimed property to the state of Wisconsin and are generally required to turn it over to the state once the abandonment period expires.

The state is required by federal law to administer Wisconsin state unclaimed property once the abandonment period has expired. Wisconsin has state laws that specify the procedures for locating the owners of unclaimed property that is in its custody. There are generally three types of information sources for unclaimed property in Wisconsin:

1. The state government. The official Wisconsin treasury unclaimed property site maintains the state’s property database, and other government departments may offer basic information on unclaimed property.
2. Third parties. Businesses and other private organizations may provide free information on unclaimed property, in addition to selling unclaimed property services in Wisconsin.
3. Local jurisdictions. Generally, each county and city in Wisconsin has specific procedures for locating owners of unclaimed property before the abandonment period expires.
   

Action Steps
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Find state agencies that deal with state of WI unclaimed property

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

I recommend: The Wisconsin State Treasurer provides a FAQ with basic answers to questions about unclaimed property in Wisconsin. The Wisconsin Statutes published by the Wisconsin Legislature addresses the issue of unclaimed property in Wisconsin with Chapter 177.

Learn about Wisconsin unclaimed properties from private sources

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

I recommend: WISN has a recent report on unclaimed property that belongs to big businesses in Wisconsin. 1888 Press Release provides specific information regarding unclaimed property in Wisconsin.

Look for state of Wisconsin 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 City of Stevens Point provides its policy for locating the owners of unclaimed bicycles or auctioning them off. The University of Wisconsin offers its procedures for disposing of unclaimed property under Wisconsin law.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Wisconsin state treasury unclaimed property is administered by the state as a result of the Uniform Unclaimed Property Act. This act was last revised in 1995 and specifically deals with unclaimed property that is in the custody of businesses. These funds frequently can be located in databases that contain the property of more than one state.