Unclaimed Property in Indiana

Locate IN unclaimed property to use in your business
By Emmet McMahan A court may classify unclaimed property in Indiana 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 IN unclaimed properties. Generally, the state serves as the custodian for abandoned property in Indiana 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 the state of Indiana:

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 unclaimed property in IN

Beware of sites that charge you a fee to help you find information from the Indiana unclaimed property division. This information should be available from your state government at no charge.
Try:  Sign up to use the National Unclaimed Property Database for free. It offers a search of both federal and state agencies. The Indiana Attorney General's Office keeps a database of unclaimed property that is searchable by name and business.

Participate in an auction for unclaimed properties in the state of Indiana

Some states have their own auctions to allow prospective buyers to bid on unclaimed or otherwise abandoned property.
Try:  JustStolen.net provides a service that allows police departments to auction unclaimed evidence. Carsfrom500.com allows you to search for government auctions in your area. You can specify zip code and a search radius.

Search for unclaimed properties in IN in your city

Some communities in Indiana have a department that attempts to reunite unclaimed property with its owner. This department can answer specific questions regarding lost or abandoned property.
Try:  The Indianapolis Department of Public Works holds abandoned vehicles for 15 days before putting them up for auction. The Indy Land Bank acquires abandoned properties in Marion County and makes them available to developers.

• The process of turning over unclaimed property in Indiana 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.