Purchasing Resources for Unclaimed Property In Wisconsin

Unclaimed Property in Wisconsin

Locate WI unclaimed property to use in your business
By Emmet McMahan 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.

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.
Try: 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.
Try: 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.
Try: 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.

• 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.