Unclaimed Property in Arizona

Locate AZ unclaimed property to use in your business

A court may classify unclaimed property in Arizona 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 unclaimed property in AZ. Generally, the state serves as the custodian for Arizona unclaimed properties 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 Arizona 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 state of Arizona unclaimed property

Beware of sites that charge you a fee to help you find contact information for the Arizona unclaimed property division. This information should be available from your state government at no charge.
Try: UnclaimedMoney.us.com allows you to search for unclaimed property by name or city and state on its website. The Arizona Department of Revenue keeps a database of unclaimed property that is searchable by first and last name.

Participate in an Arizona unclaimed property auction

Most states have their own auctions to allow prospective buyers to bid on unclaimed or otherwise abandoned property.
Try: SeizedLuxuryHomes.com allows you to search for seized homes by zip code. You may bid on these homes at local or online auctions. Carsfrom500.com allows you to search for government auctions in your area. You can specify zip code and a search radius.

Conduct an Arizona unclaimed property search in your city

Some communities in Arizona 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 Property Management Bureau for the Phoenix Police Department publishes a list of the unclaimed property that it is holding each week. The property and evidence room of the Gilbert Police Department conducts monthly auctions on unclaimed property.

 

• The process of turning over unclaimed property in Arizona to the state is called escheatment. In business, an Arizona escheatment 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 of Arizona escheat.
• Unclaimed property in Arizona 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.

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