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If unclaimed by owner or guardian after five years, the funds are considered abandoned.
If the owner doesn't take action for the property within a set amount of time, the holder of the property is required to turn it over to the state. The state protects the interests of the owners so they may be reunited with their property.
The state of Georgia maintains a database of this unclaimed property. It is completely FREE to search the database and to claim your property. All you need to begin is: Your name.
Most claims are paid within 30 days of the claim being received.
The state maintains an UCP database where you can search for and claim your property. Search by your name to find UCP. The state of Georgia maintains a database of this unclaimed property. ... Submit a claim. ... Check your claim status. ... Receive your claim in the mail. ... Keep my property from becoming lost in the future. ... Related Links.
Georgia Dormancy Periods Generally, most property types have a five-year dormancy period. Accounts are considered dormant if the property owner has not indicated any interest in the property, or if no contact has been made by the owner for the allotted dormancy period for that property.
Under Georgia law,if a tenant has actually abandoned the property then you do not need to obtain a writ of possession. However,in order for a tenant actually to abandon the property,there must be both non-use as well as an intention to relinquish all rights to the property.
Holders of unclaimed property must perform due diligence to show that they attempted to find the rightful owner of unclaimed property. For any balance greater than $50, written notice must be sent to the owners last known address 60 to 120 days days before the unclaimed property report is filed.