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Unclaimed Property in Kentucky Basics

Locate KY unclaimed property for your business

By Emmet McMahan
Unclaimed property in Kentucky basics include the fact that a financial asset that has been abandoned for a certain amount of time may be considered unclaimed property. Businesses, such as financial institutions, may hold unclaimed property for a specified period of time before turning it over to the state of Kentucky. The period of time that a business may retain this property is known as the abandonment period.

The state must attempt to locate the owners of Kentucky state unclaimed property. These methods are specified by law and typically include mailing letters to the last known address of the owner and taking out advertisements in local newspapers. There are generally three types of information sources on unclaimed property in Kentucky:
  1. Government websites. These sources of Kentucky unclaimed funds have official information on recovering unclaimed property in Kentucky.
  2. Commercial websites. These sources may be commercial sites that sell unclaimed property services and also provide a summary of Kentucky unclaimed property.
  3. Websites of local governments. Counties in Kentucky may attempt to locate the owners of unclaimed property on their own before handing it over to the state.

 

Find state agencies that deal with unclaimed property in KY

The state of Kentucky administrates unclaimed property that it receives from businesses and government entities throughout the state. Kentucky also has specific laws that regulate unclaimed property.
Try: The Kentucky State Treasury offers basic information on unclaimed property in Kentucky. Chapter 393 of the Kentucky Revised Statutes published by the Kentucky Legislature provides for the disposition of unclaimed property in Kentucky.

Learn about Kentucky unclaimed properties from private sources

There are many businesses that provide searches of unclaimed property in Kentucky. While these companies may charge a fee for these services, they often provide free information about unclaimed property in Kentucky.
Try: Business First provides a summary of upcoming legislation in Kentucky that relates to unclaimed property. The BBB Consumer Education Blog has a post on unclaimed funds scams in Kentucky.

Look for state of Kentucky unclaimed property in local jurisdictions

Universities, cities and counties frequently hold unclaimed property temporarily. The property will eventually be turned over to the state, reclaimed, auctioned off or otherwise disposed of.
Try: The Office of the Commonwealth's Attorney assists crime victims in obtaining unclaimed restitution from the Jefferson Circuit Court. The Bullitt County Clerks Office is responsible for granting titles for unclaimed vehicles in that county.

 

  • A treasure trove is a specific type of unclaimed property in Kentucky in which currency is intentionally hidden by the owner. In order to be a treasure trove, the property must have been hidden sufficiently long ago that the owner is assumed to be dead or cannot be located. American common law generally holds that a treasure trove belongs to the finder.

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