Looking for unclaimed properties in Louisiana is quite an easy task. A property in Louisiana is presumed to be abandoned or unclaimed if it has remained dormant for more than 5 years. In this case, the property will become distributable and payable. In Louisiana, the time limit for property dormancy varies and depends on the type of property.
Louisiana State can decide to sell a property that has been abandoned to the highest bidder at a public sale. In the course of this article will be looking at a practical guide on how to claim a Louisiana unclaimed property, and the necessary resources that you need.
What is an Unclaimed Property?
Unclaimed property is an asset that has been lost or abandoned by its owner and then after a period, turned over to the state government. The job of the Louisiana state treasury is to locate the rightful owner of unclaimed property. They might choose to do this by sending mail notifications to the last listed address of the Resident (in which case is Louisiana). The Louisiana comptroller or treasury can decide they also subscribe to their online content producers across their counties that have more up-to-date information about property owners. Some of the common reasons why properties become unclaimed are the death of the owner, forgetting the property, or leaving it behind.
Here are some examples of unclaimed properties that you can find in Louisiana State:
- Court funds
- Uncashed payroll checks
- Stocks and Bonds
- Forgotten layaway balances
- Military benefits
- Mortgage insurance refunds
- Pension benefits
- Savings and Checking accounts
- Proceeds of estates
- Income tax refunds
How to File a Claim For Unclaimed Property in Louisiana
Before moving on to file a claim for an unclaimed property held by Louisiana state, you can find the property by searching for the state’s official government website. If you do not find the property on the state website, you can check out the National database established by the National Association of Unclaimed Property Administrators.
If you have interest in any unclaimed property whether delivered or paid, you may file an owner claim form with the Louisiana department of treasury. The department must be able to consider your claim within duration of 90 days.
If your file claim is not acted upon within 90 days by the Treasury, you can take up the claim in any Court in Louisiana that has the competent jurisdiction.
Louisiana Unclaimed Property Resources
Peradventure you need extra information regarding and unclaimed property, as stated earlier, you can use Louisiana state government agencies. They are actually the administrators of this area of the law. In this regard, if you require any help in answering any unclaimed property question in Louisiana contact the following:
Louisiana Department of the Treasury
Unclaimed Property Division
P.O. Box 91010
Baton Rouge, LA 70821
Phone: (225) 219-9400
Fax: (225) 342-2191
For Online inquiries about Unclaimed Properties: www.treasury.state.la.us/unclaimed-property-division/
Official state government Treasury Website for Louisiana: www.treasury.state.la.us/default.aspx