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Claimants may also call 517-636-5320 between 9 a.m. and 2 p.m., Monday through Friday. "Everyone should take advantage of Unclaimed Property Day," said State Treasurer Rachael Eubanks. "One in seven people has unclaimed property nationally. Take a little time today to search by name or business.
Claimant's picture ID ? Property owner's picture ID and social security card ? Court documents or other signed legal documents giving you authority to act on the property owner's behalf.
Property is considered ?abandoned? at the expiration of an applicable dormant period. The period starts with the last time the property owner had any contact with the holder and during which the owner takes no other actions related 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 365 days days before the unclaimed property report is filed.
The Michigan Department of Treasury is the custodian of these assets and returns them to their owners (or the owners' heirs) when they are rightfully claimed. To search the Michigan Department of Treasury's Unclaimed Property database, enter a name or business name and select ?Search?.
Under Michigan's Uniform Unclaimed Property Act, Public Act 29 of 1995, Michigan businesses and government entities must report and remit to the Michigan Department of Treasury any abandoned and unclaimed property they hold that belongs to: Owners whose last known address is in Michigan, or.
Dormancy periods depend on the nature of the check and the state in which the check was issued and, in most cases, starts on the date the check was issued. In Michigan, the dormancy period for payroll checks is one year. For most other checks, the dormancy period is three years.