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Unclaimed Property in Michigan

Locate MI unclaimed property to use in your business

By Emmet McMahan
A court may classify unclaimed property in Michigan 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 the state of Michigan. Generally, the state serves as the custodian for abandoned property in Michigan until the appropriate agencies review and approve the finder’s claim. Companies frequently lose property through misfortune or carelessness.

There are general types of unclaimed property in MI:

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 MI unclaimed properties

Beware of sites that charge you a fee to help you find contact information for the Michigan 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 and allows you to select city and state. The Department of Treasury in Michigan keeps a database of unclaimed property that is searchable by name.

Participate in an auction of unclaimed properties in MI

Most states have their own auctions to allow prospective buyers to bid on unclaimed or otherwise abandoned property.
Try: Policeauctions.com publishes auctions on a range of seized property and offers free sign-up. JustStolen.net provides a service that allows police departments to auction unclaimed evidence.

Search for Michigan unclaimed properties in your city

Some cities in Michigan 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 city of Dearborn has an unclaimed cash listing and instructions for filing claims. The property room of the police department for Birmingham is responsible for keeping unclaimed property.

 

  • The process of turning over unclaimed property in Michigan 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.
  • Unclaimed property in Michigan 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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