Maine Unclaimed Property

Do You Have Any Assets to Collect?

Did you know that as of February 2023, the state of Maine is holding over $300 MILLION in unclaimed property?

Unclaimed property refers to money or financial assets such as bank accounts, uncashed checks, life insurance policies, unpaid wages, stocks and dividends, refunds, and safe deposit box contents. And yes, forgotten Clynk accounts (which may show up as Count and Crush LLC) would also fall into this category.

If you've ever moved and forgot to update your address with every single one of your accounts, you might one have unclaimed assets. 

Although, I've heard about another situation (relating to a real estate transaction) that has come close to resulting in unclaimed property. At the time of closing on a sale, the title company was to hold a check funded by the sellers as a compensation to the buyers made payable to a local plumber to remedy a minor plumbing issue. The buyers were not impressed with the credentials of this particular plumber and so they never used them. The title company could not re-issue the check to a different plumber until all parties (both sellers and buyers) agreed in writing. If that hadn't have happened prior to the 3 year window of time they had to hold the money in escrow, the title company would have to submit the money to unclaimed property. And in this case, the plumber would be entitled to the money even though they hadn't even completed any work!

Checking to find out if you have any unclaimed property is easy. The Maine State Treasurer has a website that you can enter your name or part of your name (or perhaps just your last name so you can also check for your relatives as well) and find out.

As mentioned earlier, I found and received money from an old Clynk account that I had forgotten all about. I also found an entry for a deceased family member, and in this case, I needed to provide additional documents including a copy of their death certificate.

How about you? Did you find anything?