(Part 1 of 2)

According to MO State Treasurer Sarah Steelman, Missouri unclaimed money has swelled to the giant amount of $400 million. This mountain of cash is likely to get larger, because like in most other states, Missouri takes in more unclaimed money each year than they return to the citizens. Among the number of reasons why these monies continue to go unclaimed, is the fact that the majority of people are unaware of unclaimed money, and those that are don't know the right way to track down these properties.

As we watch Missouri unclaimed money rolls approaching a half of $1 billion, perhaps the "Show Me State" ought to change its name to the "Show Me The Money State". So where does all that cash come from? There are quite a number of different types of sources for unclaimed money, a few of the most common are safe deposit boxes, certificates of deposit, abandoned bank accounts, life insurance policies, forgotten stocks, and checks that have not been cashed.

While there is no time limit on claiming abandoned cash, Missouri only promises that they will hold on to items from safe deposit boxes for one year (though they do occassionally hold them for longer). According to the Missouri State Treasury website, this is how they deal with these items: "Although State Treasurer Steelman would like to keep the contents of safe deposit boxes until an owner or heir is identified, the unclaimed property vault used to store non-monetary items of value (jewelry, coins, etc.) reaches capacity every couple of years. When the vault is full, the Unclaimed Property Division hosts an auction, and the proceeds generated from the sale of items from safe deposit boxes is recorded in the name of the safe deposit box owner. If owners or heirs are identified, they receive the entire proceeds from the sale of the items."

It is clear that for those citizens who use (or have used) safe deposit boxes, it is important to get started on your search quickly if your items hold some sentimental value to them, but worst case scenario is that you'll get the cash if your items sell. Luckily for most of us, most of this cash does not come from these auctions.

Whether you are a current or former Missouri resident, or even in some cases, haven't ever resided in Missouri at all, the odds of finding lost money that is belongs to you, are are great. Of course the great thing about money from unclaimed money is the fact that the assets already rightfully belongs to people. This means that there are no games or risk taking involved. The only thing keeping missing cash from becoming found money, for most people, is their knowledge about how to search, and where to search.

(to be continued)

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Missouri Woman to Get $6.1 M Unclaimed Money Payout
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Unclaimed Money: Missouri Woman Nets $6.1 Million, is Largest Known Property Claim in U.S. History
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