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Unclaimed Property in Maryland Basics

Locate MD unclaimed property for your business

By Emmet McMahan
Unclaimed property in Maryland basics define unclaimed property as property that has not been claimed for a specified period of time, known as the abandonment period. Financial institutions and other businesses routinely report unclaimed property to the state of Maryland and are generally required to turn it over to the state once the abandonment period expires.

The state is required by federal law to administer Maryland state unclaimed property once the abandonment period has expired. Maryland has state laws that specify the procedures for locating the owners of unclaimed property that is in its custody. There are generally three types of information sources for unclaimed property in Maryland:
  1. The state government. The official Maryland abandoned property site maintains the state’s property database, and other government departments may offer basic information on unclaimed property.
  2. Third parties. Businesses and other private organizations may provide free information on unclaimed property, in addition to selling unclaimed property services in Maryland.
  3. Local jurisdictions. Generally, each county and city in Maryland has specific procedures for locating owners of unclaimed property before the abandonment period expires.

 

Find state agencies that deal with unclaimed property in MD

The state of Maryland administrates unclaimed property that it receives from businesses and government entities throughout the state. Maryland also has specific laws that regulate unclaimed property.
Try: The Comptroller of Maryland provides an online search for the unclaimed property it's currently holding. Title 17 of the Maryland Code published by Michie's Legal Resources details the disposition of abandoned property in Maryland.

Learn about Maryland unclaimed properties from private sources

There are many businesses that provide searches of MD abandoned property. While these companies may charge a fee for these services, they often provide free information about unclaimed property in Maryland.
Try: KBST&M provides an overview of the process for disposing of unclaimed property in Maryland. Your4State.com has a recent report on the use of tax rolls to return unclaimed property in Maryland.

Look for state of Maryland 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 Baltimore County Police Department provides its procedures for handling unclaimed property in its possession. The Police Department of Howard County holds regular auctions of unclaimed property.

 

  • MD state unclaimed property is administered by the state as a result of the Uniform Unclaimed Property Act. This act was last revised in 1995 and specifically deals with unclaimed property that is in the custody of businesses. These funds frequently can be located in databases that contain the property of more than one state.

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