Purchasing Resources for Unclaimed Property In Louisiana

Unclaimed Property in Louisiana

Locate LA unclaimed property to use in your business
By Emmet McMahan A court may classify unclaimed property in Louisiana 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 Louisiana unclaimed property. Generally, the state serves as the custodian of unclaimed property for Louisiana 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 Louisiana state 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.

Find agencies that handle unclaimed property of Louisiana

Beware of sites that charge you a fee to help you find contact information for the Louisiana 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 by state. The Louisiana state treasurer keeps a database of Louisiana treasury unclaimed property that is searchable by name, business name, address and city.

Participate in a state of Louisiana unclaimed property auction

Most 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. SeizedLuxuryHomes.com allows you to search for seized homes by zip code. You may bid on these homes at local or online auctions.

Conduct a Louisiana unclaimed property search in your city

Most cities in Louisiana 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 Shreveport Police Department Property Management Bureau keeps stolen or seized property for 150 days before selling or disposing of it. The St. Charles Parish Sheriff's Office holds regular public auctions of property that is not claimed after a period of time.

• The process of turning over unclaimed property in Louisiana 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.

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