Vermonters were refunded an amount more than $4.5 million in the form of reclaims for unclaimed property. On an average the state government of Vermont issues refunds to around 8000 rightful owners annually.
State government of Vermont collects unclaimed property from many sources – banks, insurance companies, state unions and other companies. Companies have to report unclaimed and abandoned proceeds to the state every year. The abandoned property could be in the form of cash dividends, traveler’s checks, unclaimed security deposits and gifts etc. It does not include the real estate proceeds. The Vermont State government acts as a custodian to the unclaimed property. Owners can anytime claim their unclaimed proceeds from the state’s treasurer office. Claims are generally processed between 60-90 days after the state receives the claim receipt.
Potential claimants and holding institutions can avail services from the state of Vermont for free of cost. Their staff is committed to provide you best in class services by searching your property, notifying you about its whereabouts and the procedure to claim it from the state government.
And if you are getting worried on how to ensure that state owes you? Sit back and relax. You can log on to NAUPA’s or state government of Vermont’s website and check if you are owed. You may be contacted by the private heir locators informing about your found missing property. While hiring them, ensure that they do not demand a fee viz. more than 10% of the property amount. Such agencies must be licensed and registered with the state. At times some fake or scam agencies might contact the innocent owners to scam they. Beware of such agencies! Another smart thing would be to contact the state and file for claim and recovery at no cost at all. After all nobody likes to pay for an amount that is owed to them.