Mississippis unclaimed property program is younger than similar programs in most states and is updated less frequently. 89-12-21 - Recovery by another state of property paid or delivered to treasurer under this chapter. More information from the state of Mississippi on unclaimed property reporting can be found here. We also recommend choosing electronic account management and using a single email address to handle all of those records, when that is a possibility. (3) Notwithstanding subsections (1) and (2) of this section, the funds reflected by the cancellation of State of Mississippi warrants that constitute part of the Abandoned Property Fund shall be transferred by the State Treasurer back to the original fund source if unclaimed by the owner within the time specified in Section 7-7-42. Dormancy periods in Mississippi vary by property type. 89-12-41. Fortunately, today you can just look in Mississippis statewide unclaimed property database for information from all of those counties. 89-12-14. Title 89 Real and Personal Property, Chap. (2) The claim of another state under this section to recover property shall be presented in writing to the treasurer, who shall consider the claim within ninety (90) days after it is presented. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Sign up with your email address to receive news and updates. We want to make you aware of them and give you tips on how to avoid them, so that your own search will run as smoothly as possible. We still got a similar response: This information led us to the conclusion that in Mississippi, you only need a last name to run your property search. (1) All tangible personal property or intangible personal property, including choses in action in amounts certain, and all debts owed or entrusted funds or other property held by the federal government, or any federal agency, or any officer, or appointee thereof, shall be presumed abandoned in this state if the last known address of the owner of the property is in this state and the property has remained unclaimed for five (5) years. If so, include those states on your list. You want to leave that person the account records listed in the question above. (b) Any sum which a utility has been ordered to refund and which was received for utility services rendered in this state, together with any interest thereon, less any lawful deduction, that has remained unclaimed by the person appearing on the records of the utility entitled thereto for more than five (5) years after the date it became payable in accordance with the final determination or order providing for the refund. Cookie Policy, Find Mississippi Unclaimed Property (2022 Guide), Mississippis unclaimed property page here, Mississippis unclaimed property database on the home page for its unclaimed property program here, National Association of Unclaimed Property Administrators (NAUPA), Mississippis unclaimed property database is located here, Uniform Disposition of Unclaimed Property Act, 2010 Mississippi Code, Title 89, Chpt. The holder is expected to maintain strict compliance with state unclaimed property laws after the VDA period. If accepted by the state, the holder is then exempt from fines and penalties that cover the VDA period. You can also find unclaimed property forms here. Section 89-12-49 of the Mississippi Code of 1972 Annotated, as amended, authorizes the Mississippi State Treasurer to adopt necessary rules and regulations to carry out the provisions of the Uniform Disposition of Unclaimed Property Act. The current statutes that govern unclaimed property in Mississippi can be found with the Holder Reporting Instructions. This is different from the search procedure in almost every other state and is something that you need to know when you begin searching for property in Mississippi. This site is protected by reCAPTCHA and the Google, There is a newer version Many people find the idea of searching for and claiming abandoned property to be very intimidating. The Treasury used to run an easy-to-use database that could help you locate lost or abandoned savings bonds. 89-12-7 - Presumed abandonment of unclaimed funds held or owing by life insurance corporation. (2) There is created within the Abandoned Property Fund in the State Treasury a trust to be known as the Historic Properties Financing Fund, which shall be used as provided in this section. Mississippi requests that holders do not submit negative reports. Bonds and Liability. Nothing in this section shall be construed to prevent an owner from asserting at any time that an agreement to locate property is based upon an excessive or unjust consideration. Find All Alabama Unclaimed Money (2022 Guide), Find All Delaware Unclaimed Property (2022 Guide), Find All Hawaii Unclaimed Property (2022 Guide), Find all Kansas Unclaimed Property (2022 Guide), Find All Maine Unclaimed Property (2022 Guide), Find All Oklahoma Unclaimed Property (2022 Guide), Find All Rhode Island Unclaimed Property (2022 Guide), Find all Unclaimed Property in South Dakota (2022 Guide), Find All West Virginia Unclaimed Funds (2022 Guide), Find All Your Wyoming Unclaimed Property (2022 Guide), Find Any Kentucky Unclaimed Property (2022 Guide), Find Any Montana Unclaimed Property (2022 Guide), Find Any Texas Unclaimed Property (2022 Guide), Find Any Unclaimed Money in Louisiana (2022 Guide), Find Any Unclaimed Property in California (2022 Guide). 12 Uniform Disposition of Unclaimed Property Act, SEC. A person making a claim under this chapter after the expiration of the time period is entitled to receive either the securities delivered to the Treasurer by the holder, if they still remain in the hands of the Treasurer, or the proceeds received from sale, but no person has any claim under this chapter against the state, the holder, any transfer agent, registrar or other person acting for or on behalf of a holder for any appreciation in the value of the property occurring after delivery by the holder to the Treasurer. Unclaimed property refers to things like money or stocks. Title 89 Real and Personal Property, Chap. 12 Uniform Disposition of Unclaimed Property Act, SEC. The mailing of notice to the last-known address of the owner by the holder shall constitute compliance with this subsection and no further act on the part of the holder shall be necessary. Privacy Policy 89-12-19. However, you can enter your details and member insurers will check to see if you are a beneficiary on any of their policies. In Mississippi, you start your search for unclaimed money by looking to see if you have any abandoned property listed in their database. You're all set! (d) Holder means any person in possession of property subject to the provisions of this chapter belonging to another, or who is trustee in case of a trust, or is indebted to another on an obligation subject to the provisions of this chapter. If the Treasurer sells any securities delivered pursuant to Section 89-12-11 before the expiration of the three-year period, any person making a claim pursuant to this chapter before the end of that time period is entitled to either the proceeds of the sale of the securities or the market value of the securities at the time the claim is made, whichever amount is greater. Some good tips to follow are: cash all checks when received; keep detailed records of all of your accounts; contact the holder of your accounts on a yearly basis; respond to all communications from any of your holders; and inform holders whenever you have a change in personal information such as a name change or a change of address. Accounts are considered dormant if the owner of a property has not indicated any interest in the property or if no contact has been made for the allotted dormancy period for that property. Box 138 | Jackson, MS 39205-0138 Join our growing network of businesses that are using the Escheatify HolderExchange to prevent escheatment by reconciling their pre-escheat unclaimed property. 12 Uniform Disposition of Unclaimed Property Act, SEC. Mississippi does not discourage finders, but the Mississippi claim search process is free. Presumed abandonment of unclaimed funds held or owing by life insurance corporation: (1) Subject to the provisions of Section 89-12-17, funds held or owing by a life insurance corporation under any life or endowment insurance policy or annuity contract which has matured or terminated shall be presumed abandoned if unclaimed and unpaid for more than five (5) years after the funds became due and payable as established from the records of the corporation. (4) Within one hundred twenty (120) days from the receipt of the report required by Section 89-12-23, the Treasurer shall mail a notice to each person having an address listed therein who appears to be entitled to property valued at One Hundred Dollars ($100.00) or more and presumed abandoned under the provisions of this chapter. Title 89 Real and Personal Property, Chap. Email us at Unclaimed@treasury.ms.gov or call (601) 359 . First, you want to make a list of the states you should search for your unclaimed property search. Mississippi Disposition of Unclaimed Property Law Mississippi Law Summary Uniform Disposition of Unclaimed Property Act Note: This summary is not intended to be an all inclusive discussion of abandoned property law, but does include basic provisions. If you do use a finder/ locator service in Mississippi, be advised that they are limited as to what percentage of the claim they can charge for their services. The interest on interest-bearing property shall begin to accumulate on the date that the property is delivered to the Treasurer and shall cease on the earlier of the expiration of fifteen (15) years following delivery or the date on which payment is made to the owner. As used in this chapter, unless the context otherwise requires: (a) Banking organization means any national or state bank, trust company, savings bank, land bank, private banker, or any similar organization which is engaged in business in this state. 12 Uniform Disposition of Unclaimed Property Act, SEC. (2) The published notice shall be entitled Notice of names of persons appearing to be owners of abandoned property, and shall contain: (a) The names in alphabetical order and last-known addresses, if any, of persons listed in the report and entitled to notice in the county as specified in subsection (1) of this section; (b) A statement that information concerning the amount or description of the property and the name and address of the holder may be obtained by any persons possessing an interest in the property by addressing an inquiry to the Treasurer; and. This means that property may actually be identified as unclaimed, but not reported for almost another three years. 12 Uniform Disposition of Unclaimed Property Act, SEC. Any holder who pays to the owner property which has been delivered to the state and which, if claimed from the Treasurer, would be subject to the provisions of this section as interest-bearing property, shall add interest as provided in this section. (a) A statement that property is being held to which the addressee appears entitled; (b) A statement that any person claiming an interest in the property must file a proof of claim with the Treasurer as set forth in Section 89-12-39. While many states use the Missing Money database to handle their abandoned property claims, Mississippi runs its own database. As the prevalence of pensions has declined, many people have moved to jobs with no pensions benefits and may have forgotten pensions at prior jobs. Sometimes unclaimed property is known as unclaimed money, abandoned property, and abandoned money. (3) If the validity of a claim shall be determined in favor of the claimant, the Treasurer shall pay over to the claimant only that amount which the Treasurer actually received, without deduction for costs of notices or for service charges, together with interest at the rate of one-twelfth of one percent (1/12 of 1%) per month from the time when it was received by the Treasurer to the time when it was paid by him to the claimant. Unclaimed Property Reporting. (i) Person means any individual, business association, government or political subdivision or agency, corporation, public authority, estate, trust, two (2) or more persons having a joint or common interest, or any other legal or commercial entity whether such person is acting in his own right or in a representative capacity. (2) If the owner established the right to receive the abandoned property to the satisfaction of the holder before the property has been delivered, or it appears that for some other reason the presumption of abandonment is erroneous, the holder need not pay or deliver the property to the Treasurer, and the property is no longer presumed abandoned. 89-12-39. (2) If the holder pays or delivers property to the Treasurer in good faith and thereafter another person claims the property from the holder or another state claims the money or property under its laws relating to escheat or abandoned or unclaimed property, the Treasurer, upon written notice of claim, shall defend the holder against any liability on the claim.
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