There are a number of reasons to conduct and asset records search. These reasons include searching for missing or unclaimed assets for individuals, as well as assets that belong under the name of a business or corporation. To find hidden assets without the assistance of an asset records search would be difficult.

Any business who wants to search assets should take advantage of search tools online, as well as firms that specialize in searching for lost assets. The pricing and costs of asset records searches will depend on the search method you use. Some of the most common search types are:

1. Online asset searches that charge fees for additional information on the results.

2. Asset search tools affiliated with the government.

3. An asset search firm that can go through records for you to find unclaimed assets.

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

Find business assets through a professional search firm

Many individuals and businesses do not have the time or resources to dig through thousands of unclaimed assets to find one that belongs to them. This is where a search firm will come in handy. While these services may cost more than search tools you can find on your own, a search firm can find assets fast if the are available. Professional search firms cost $75 to $200; the price goes up with the amount of information you need. A minimum cost of $75 can get you overviews of records.

I recommend: Bearak Reports is a firm that offers many asset search options, including personal property, real estate and corporate affiliations. The United States Treasury Department offers a lot of useful information on searching for assets and how to claim them if you think they're yours.

Search for unclaimed business assets through search websites

There are many searchable databases for unclaimed assets on the Internet and most of them can get you the information you need, or at least lead to you it. This will cost a small fee of around $35 to $40, which will provide you with a report that includes as much information as can be collected on the matter.

I recommend: Asset Trackers can search for a variety of assets that may belong to a company or individual, including vehicles, cash or even money located outside the country. KnowX is another search service that can track down assets records.

Use government asset search databases

To get the best information for little to no money upfront, use a government affiliated websites for quick and easy asset records searches. Searches from these sites are free, or can cost up to $250 for an additional monitoring program that gives you periodic data on your company's listed assets.

I recommend: The National Association of Unclaimed Property Administrators (NAUPA) can provide searches and other monitoring services for any business that wants to pay a yearly fee. And for an easier search, try a NAUPA-sponsored site like MissingMoney.com. This page contains links to state government websites where you can search databases for unclaimed assets.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If a person or company approaches you about a search for business assets, proceed with caution. This could be a scam you will want to avoid.

Widespread Internet availability has transformed the process of conducting an asset records search. At the click of a mouse, it's possible to conduct a surprisingly thorough asset search.

Online unclaimed asset search databases allow users to search for unclaimed property in both business names and individual names.

Keep the following in mind when you're trying to find hidden assets by conducting asset searches:

1. Although you might choose to pay a business asset search service to find hidden assets for you or your company, there is no fee involved in actually filing the required paperwork and attempting to claim the assets.
2. A business asset search service is a good option if you're limited geographically and not able to travel to areas where you need to do research.
3. Results from an online asset records search can be the first step in helping you locate hidden assets.
   

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The best contacts and resources to help you get it done

Use government and government-affiliated asset search databases

Unclaimed property databases allow users to search for unclaimed funds held by states' treasury departments. They've grown in popularity after being widely publicized.

I recommend: Try the National Association of Unclaimed Property Administrators. This website includes links to each state's treasury department website. Also, try MissingMoney.com for links to the states' treasury department websites.

Use an asset search firm

If you're willing to pay a fee, asset search services can help you with the process of conducting a business asset search.

I recommend: Try Bearak Reports. They offer an ExpresSearch Series which provides clients with many different search options including personal property and real estate searches. They also offer an ExpresSearch Plus Series and an AssetView Select Series. Another choice is Able Investigations. They have licensed investigators, many of whom have juris doctor degrees.

Learn more about how to search assets and complete the required paperwork to make a claim

The required paperwork varies depending on what type of unclaimed property you find. Many state treasury databases include links to the required forms, and many are often available in PDF format.

I recommend: Read more about unclaimed assets at the United States Department of the Treasury website. Complete the required forms to establish proof of heirship. Unpaid foreign claims require these two forms.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Weigh your options. Determine how much time you have to devote to finding hidden assets. If your time is limited, hiring a firm to conduct a business asset search might be the right choice for you.
• •  Proceed with caution if someone contacts you about hidden assets or unclaimed property. Be careful to avoid possible scams. Guard your personal information such as your social security number or employer identification number. Confirm the person or company's identity before proceeding further.
• •  Some state treasury unclaimed property databases won't list unclaimed funds under a certain amount, and most only list whether or not the amount is under or over $100.

An asset records search for any individual or company can turn up some hidden treasure they never knew they were entitled to. Unclaimed assets can come in the form of money, real estate or other physical property. Many companies try to find hidden assets they can legally claim.

A business asset search service or simple online asset search can turn up many leads for recovering lost assets. To keep up with laws and requirements that will help you execute your asset search, consider the following sources for asset records search news and trends:

1. Blogs and forums that can put you in touch with experts.

2. Articles and magazines that provides tips on finding hidden assets.

3. Reviews of the best asset search firms and online search tools.

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

Find business assets news through blogs

Because asset searches can be done in a number of ways, many people first turn to experts to find out whether it's more cost effective to hire an expert asset search firm or to go about it on their own. Many experts have blogs that can provide you with the latest asset records search news and trends.

I recommend: The Asset Search Blog provides weekly asset search news for those who want to know more. PInow.com is blog where you can get news on how to use an asset record search to find unclaimed property, and provides information on the legal aspects of unclaimed assets.

Check out asset search services reviews before you sign up

Most asset records searches are legitimate, especially if you use one that is sponsored by a government program like the National Association of Unclaimed Property Administrators (NAUPA). But there are still quite a few popular scams on the Internet. If you read reviews about asset search firms and search databases available online, you can successfully avoid these.

I recommend: JunkFax.org provides a lot of information on assets records search companies that use scams and frauds to lure customers. It is also important to note the statute of limitations for unclaimed property so that you don't get scammed by paying for something you can never reclaim. Check out this handy chart from Your Collection Solution to find out what the statute of limitations is in your state.

Read articles that provide new and tips you can use to search business assets

Searching for assets of any kind may be difficult if you do not know where to start. But with online resources and print resources, you can easily find the information you are looking for.

I recommend: How to Investigate provides a two-part series on how to begin searching for assets, what you will need to do it, and the reasons why it may be important for you to find these assets. All Sleuths provides state-specific news and trends on the asset records search industry.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  If you are unsure about whether you need to hire professionals to find assets records, try one of the free online asset records searches first and see if your query turns up any information.

Asset records can contain information about personal or business investments or acquisitions, and help businesses and investors keep track of investment or property assets and their values. Searching asset records can help determine details about an asset acquisition and determine its current status and value.

Asset records searches can be conducted for use in legal proceedings, asset sales or just to maintain an asset inventory. It's important to understand key terminology frequently found in asset records to ensure that asset records searches produce correct and useful information.

Action Steps
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Digital asset management

Digital asset management, or DAM, is the use of digital tools like online documents and email to organize and manage assets. Digital asset management often includes asset file categorization and security software installation.

I recommend: Tech-FAQ explains digital asset management and how it helps organize assets and digital asset data.

Asset allocation

Asset allocation is a method of determining valuable assets to invest in or collect based on individual financial goals and market risks. Asset allocation varies by individual or company and attempts to balance the risk of each asset acquired by analyzing data about the assets.

I recommend: Investopedia explains how asset allocation works and how it functions to minimize asset investment risk.

Asset exemption

Asset exemption is an asset that is ruled by the federal government to be exempt from seizure by collection agencies or in bankruptcy proceedings. Common asset exemptions include retirement plan exemptions and tools of the trade exemptions. Asset records searches are often done to determine asset exemptions in legal cases.

I recommend: The Business Owner's Toolkit explains asset exemptions and how to protect them during legal proceedings.

Durable assets

Durable assets are typically large items that can be used in the production of goods or services. They are assets that last for long periods of time and can often be used in many ways. Asset records will often include tools, farm machinery and automobiles as durable assets.

I recommend: The Public Sphere Project explains durable assets and how these assets are beneficial.

Accumulated depreciation

Accumulated depreciation is the decrease in the value of an asset from the date it was acquired to present, based on age, wear and tear, market value and degree of use. Asset records searches can be used to find sale dates for assets to determine accumulated depreciation.

I recommend: wiseGEEK defines accumulated depreciation and explains how it is affected by the asset entity and market changes since the asset's acquisition.

Liquid assets

Liquid assets consist of cash or any assets that can be converted quickly into cash, such as gift certificates, bank notes or savings bonds. Asset record searches are often performed by creditors or collection agencies to determine the liquidity of assets of an investor or company.

I recommend: BusinessDictionary.com explains liquid assets and how they can be converted into cash quickly.