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Unclaimed Property in Michigan Laws and Regulations

Learn how to find and return property with MI unclaimed property laws and regulations

By Emmet McMahan
Unclaimed property in Michigan laws and regulations are based partially on the common law of property. This generally means that unclaimed property is property which has left the rightful owner’s possession without directly entering another owner’s possession.

The disposition of unclaimed property in the state of Michigan depends on the specific circumstances under which it is found. There are three types of unclaimed property:
  1. Lost property is found in a location where the owner did not intend to leave it and is not likely to find it. The finder of unclaimed property in MI is entitled to possession against everyone but the true owner. One exception to this rule occurs when a trespasser finds lost property while on private land.
  2. Mislaid property is found in a location where the owner did intend to leave it and simply forgot to pick it up. Mislaid property must be returned to the owner.
  3. Abandoned property is found in a place where the owner intended to leave it. However, the condition of the property is such that it is unlikely that the true owner intends to reclaim it. Abandoned property in Michigan belongs to the finder.

 

Learn about the laws regarding the owners of Michigan unclaimed property

Laws on unclaimed property are frequently used to determine the circumstances under which property must be returned to the owner. Unclaimed property laws and regulations are a resource for owners who wish to locate their MI unclaimed properties. Contact the Michigan Department of Treasury to locate your own property.
Try: The City of Dearborn provides the procedures for an owner to locate unclaimed property being held by the city. The Calhoun County Courts offers information on the laws that specify the state's obligation to located unclaimed property owners.

Examine laws on holders of unclaimed properties in the state of Michigan

Unclaimed property laws describe the requirements for holders of unclaimed property to return the property to the rightful owner. They can determine when ownership of the unclaimed property passes to the holder.
Try: The Michigan Legislature provides the laws for holders of unclaimed property in Michigan. The Michigan Office of the Attorney General provides an opinion on the laws regarding holders of unclaimed property in Michigan.

Review laws on unclaimed property in Michigan for finders

Unclaimed property laws for finders address procedures for how finders charge owners for locating, delivering, recovering or assisting in the recovery of their unclaimed property. Unclaimed property laws for finders may also cover the rights of the state to recover compensation for unclaimed property.
Try: The State of Michigan Department of Treasury provides rules for finders of unclaimed property in Michigan. Justia has the laws that address the finder's rights to unclaimed property.

 

  • The Uniform Unclaimed Property Act is a key piece of federal legislation that affects Michigan unclaimed properties. The Act seeks to address the problems of unclaimed property that arise from its origins in English common law. The National Conference of Commissioners on Uniform State Laws first drafted the Uniform Unclaimed Property Act in 1981 and last revised it in 1995.

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