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Unclaimed Property in Pennsylvania Basics

Locate PA unclaimed property for your business

By Emmet McMahan
Unclaimed property in Pennsylvania 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 Pennsylvania. 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 Pennsylvania 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 Pennsylvania:
  1. Government websites. These sources of Pennsylvania abandoned property have official information on recovering unclaimed property in Pennsylvania.
  2. Commercial websites. These sources may be commercial sites that sell unclaimed property services and also provide a summary of Pennsylvania unclaimed property.
  3. Websites of local governments. Counties in Pennsylvania 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 PA

The state of Pennsylvania administrates unclaimed property that it receives from businesses and government entities throughout the state. Pennsylvania also has specific laws that regulate unclaimed property.
Try: The Pennsylvania Treasury Department provides basic information on unclaimed property in Pennsylvania and also has a search capability on the unclaimed property database. The Pennsylvania Attorney General has a summary on recovering unclaimed property, such as gift certificates.

Learn about PA abandoned property from private sources

There are many businesses that provide searches of unclaimed property in Pennsylvania. While these companies may charge a fee for these services, they often provide free information about unclaimed property in Pennsylvania.
Try: Wolf, Baldwin & Associates provides a legal definition of unclaimed property and specific information on unclaimed property in Pennsylvania. Spencer Law Firm provides a post on the process by which safe deposit box contents are turned over to the state.

Look for state of Pennsylvania unclaimed property in local jurisdictions

Universities, cities and counties frequently hold unclaimed property temporarily. The property eventually will be turned over to the state, reclaimed, auctioned off or otherwise disposed of.
Try: Allegheny County provides its procedure for turning unclaimed Pennsylvania escheat to the state of Pennsylvania. Beaver County maintains a list of unclaimed property for residents in that county.

 

  • A treasure trove is a specific type of unclaimed property in Pennsylvania 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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