What is a unclaimed financial assets?

[Anonymous]

[DaveJord]

www.patriotsoftware.com/accounting/training/definition/unclaimed-funds/#:~:text=Financial%20assets%20that%20have%20not,%2C%20stocks%20and%20bonds%2C%20etc.

Financial assets that have not been used for a length of time or have unknown ownership. Unclaimed property can include uncashed payroll checks or other checks, dormant bank accounts, refunds, customer overpayments, security deposits, insurance payments, stocks and bonds, etc.

[TroyDT2]

Usually money in a bank or a returned check that, by law, must be turned over to the Controller or Treasurer in many states X number of days after failure to locate the legal owner. You can probably check on a database to see if you are named. Here is the one for California:

https://ucpi.sco.ca.gov/

[WhitneySnow]

Like money I think? I heard my mom’s friend use that term before. It’s just a fancy way of saying unclaimed money.

[SaoirseS]

It depends on the context in which the term is used.